Individuals
Why Property Investors Need Tax Planning
Why Property Investors Need Tax Planning Why Property Investors Need Tax Planning (Before It Becomes Costly) Property remains one of the most popular long‑term investment strategies in Australia. However, many property investors focus heavily on the purchase decision and financing, while giving far less attention to tax planning — often until after problems arise. Tax…
Read MoreGet Ready for end of year tax planning
End of financial year tax planning – what to review before 30 June End of financial year tax planning is not about chasing last‑minute deductions or reacting once the year has ended. It is about reviewing your position before 30 June so your tax outcome reflects what actually happened, not assumptions or “same as last…
Read MoreBoost Your Super and Maximise Your Retirement Savings
Superannuation contributions and tax considerations for retirement Superannuation plays an important role in how Australians save for retirement. Understanding how different types of super contributions are treated for tax purposes can help individuals make informed decisions and avoid unintended consequences. This page provides general information about common superannuation contribution options and related tax considerations. It…
Read MoreChanges to Study and Training Loan Indexation: What You Need to Know
Changes to Study and Training Loan Indexation: What You Need to Know If you have a study or training loan (such as a HELP or VET loan), you may have noticed how indexation affects your balance over time. Indexation is applied each year to adjust outstanding loan balances and recent legislative changes have altered how…
Read MoreSmart Spending This Christmas: Track Every Dollar
Smart Spending and Budgeting During High‑Cost Periods Many people experience periods during the year where spending increases significantly. This can include celebrations, holidays, family events, school costs, or other planned and unplanned expenses. Without visibility over where money is going, these periods can quickly place pressure on cash flow and lead to financial stress later.…
Read MoreLate Tax Declaration with a Tax Agent
Late Tax Return Lodgement with a Tax Agent If you’ve missed the tax deadline or have one or more overdue tax returns, you are not alone. The most important step is to take action and get back up to date in a structured, calm way. This page explains what late lodgement can lead to, why…
Read MoreMedicare Levy Surcharge (MLS): What It Is & How It Affects You
What is the Medicare Levy Surcharge (MLS)? The Medicare Levy Surcharge (MLS) is an additional tax imposed on individuals and families who earn above a certain income threshold but do not have private health insurance. The MLS is designed to encourage high-income earners to take out private health insurance and reduce pressure on the public…
Read MoreThe Benefits Of Seeing A Professional Tax Agent
The Benefits of Seeing a Professional Tax Agent Many Australians attempt to lodge their tax returns on their own each year. In some cases this may be fine. However, when circumstances become more complex, working with a professional tax agent can provide clarity, reduce risk, and improve outcomes over time. A registered tax agent does…
Read MoreHow Much Tax Do I Need to Pay?
How to save tax in business using a company From the 2023–2024 financial year, most small businesses in Australia are taxed at a reduced rate of 25%, while larger companies pay 30%. Whereas individual takes rates are higher than this from each dollar over $45000 The above rates do not include the Medicare Levy…
Read MoreFive common questions you should be asking your Accountant
A great person to ask what you should be asking your accountant is an accountant. So I have prepared five great questions to ask the accountant. What can I claim? Of course, your accountant should be asked to explain the deductions that are available to your circumstances and occupation or business. These may be available…
Read MoreYour Guide To Choosing The Right Accountant
Selecting the Right Accountant: Key Considerations for Financial Success Choosing the right accountant for your personal and professional needs may seem daunting but it is a necessary step for you to maximise your current financial position and proactively plan for your future. The right accountant can do a lot more for you besides preparing your…
Read MoreThe Logbook Method: How to Claim Work-Related Car Expenses
The logbook method: how to claim work-related car expenses Why keeping a car logbook matters Where a vehicle is used for income‑producing purposes, car expenses may form part of a valid tax deduction. The logbook method is used to establish the business‑use percentage of a vehicle so that expenses are claimed accurately and in line…
Read MoreCommon Tax Mistakes To Avoid
Common tax mistakes to avoid when lodging your tax return Lodging a tax return can seem straightforward, but many issues arise from small and avoidable mistakes. These errors can lead to delays, ATO adjustments, missed reporting, or compliance concerns. Below are some of the most common tax mistakes, along with practical guidance on how to…
Read MoreATO Scams: How to Spot and Avoid Tax Scams in Australia
Why it is important to protect your tax file number Some of you may already be aware of how important it is to protect your tax file number (TFN) from getting into the wrong hands. Crooks can use your TFN for TFN fraud, such as presenting themselves as you to the ATO, doing your tax…
Read MoreWhat to Bring for Your Individual Tax Return
So what do you need to bring for your tax return appointment? 1. A copy of your last tax return if you haven’t done a tax return with us before. We mean the last full tax return copy done by you or your previous accountant, rather than just a notice of assessment. This may be…
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