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Low and Middle Income Tax offset not available in tax return 2023
Low and middle income tax offset (LMITO) LMITO ended on 30 June 2022. The last year you can receive it is the 2021–22 income year. LMITO is not available for the 2022–23 income…
Employees Working from home deduction changes for 2022–23
Employees Working from home deduction changes for 2022–23 The record keeping requirements and methods for calculating working from home deductions has changed for the 2022–23 income year onwards. The shortcut…
how to better claim common tax deductions
how to better claim common tax deductions This tax season is going great so far. The ATO are seemingly quiet and are processing some tax returns as quickly as…
ATO tax 2022 focus
ATO tax 2022 focus Tax return time: ATO priority areas The ATO’s 2021-22 tax time focus areas for individuals are: record-keeping – ensuring that proper records are available and data-matching to…
Motivation boosters
Motivation boosters Of course there can be times when we are not feeling fully motivated. Here are some ideas to get your motivation back to it’s top. try staying away…
Share investing ideas
Share investing Are you thinking of starting a share portfolio? Or if you aren’t yet, then perhaps you should be. I must say being an accountant, I began to take…
Applying for Director Identification number
How to apply for the new Director Identification number (Director ID number) Individuals need to apply for their own Director ID Number Please note that only an individual can apply…
ATO Scam tips
Why it is important to protect your tax file number. Some of you may already be aware how important it is to protect your tax file number (TFN) from getting…
How company saves tax explained simply
How to save tax in business using a company Most companies are now taxed at 25% from each $ of profit from 1/7/21 Whereas individual takes rates are…
