Tax Accounting Adelaide | Tax Accounting Adelaide

19 Ways to Make Extra Money

I have been noticing the recent trend in many workers finding less and less job security, so I have been inspired to share some ways to make money. As maybe some of these may interest you. My tip is to just try one or two of these suggestions that interest you the most. 1. …

Navigating Tax Returns for Freelancers and Contractors

Managing tax returns as a freelancer or contractor can be challenging, but you can make it a smoother process with the right approach. Understanding your tax obligations and keeping detailed records of your income and expenses is crucial to ensure you don’t miss out on any deductions and stay compliant with ATO regulations. Key Advice:…

Tax Return for Aged Care Workers

Tax Return and Deduction Checklist for Aged Care Workers As an aged care worker, you play a crucial role in supporting and caring for individuals in need. But did you know that you could also benefit from various tax deductions related to your profession? Filing your tax return accurately can help you maximise your claims…

How Much Tax Do I Need to Pay?

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 higher than this from each dollar over $45000 Businesses can benefit from lower individual tax rates by paying themselves an individual income from the company of…

Everything You Need to Know About BAS Statements

Everything You Need to Know About BAS Statements A Business Activity Statement (BAS) is a tax report that businesses must submit to the Australian Taxation Office (ATO). It’s primarily used by businesses to report and pay for several tax obligations, including GST, PAYG withholding, PAYG instalments, and other tax requirements. What Does a BAS Cover?…

Boost Your Tax Refund by Donating to Charity

What You Need to Know? Giving back to your community not only feels good but can also reduce your tax bill. Donations to registered charities in Australia are tax-deductible, which means you can claim them on your tax return and potentially increase your refund. Here’s how to maximise your donations and ensure they count: Key…

Five 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…

Different Types of Taxes

Overview of Different Types of Taxes Navigating the world of taxes can be daunting, especially when facing various types of taxes that might apply to your personal or business finances. Here’s a friendly overview to help you understand the key types of taxes you may encounter. 1. Income Tax What It Is: Income tax is…

Recently arrived in Australia

Essential Steps for New Arrivals in Australia: Starting Work Welcome to Australia! If you’re new to the country and ready to start working, here are the essential steps and entities you need to be familiar with to get started: 1. Obtain a Tax File Number (TFN) Why: A TFN is a unique number issued by…

Tax Rates and Calculators

Understanding Tax Rates and Using Calculators to Plan Your Finances Many Australians are looking to stay informed about the latest tax rates and use tax calculators to estimate their take-home pay. Whether you’re figuring out your annual, monthly, or weekly salary after tax deductions, it’s crucial to consider various factors that impact your final…

Your 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…

Advise Accounting Adelaide

10 Common Management Mistakes in Accounting for Businesses Managing business finances can be challenging, and small errors can lead to bigger problems later on. In this post, we’ll talk about 10 common mistakes businesses make with accounting and how you can avoid them to keep your business running smoothly. “A good business owner doesn’t run…

The Logbook Method

The Logbook Method: What It Is and Why It Matters The logbook method is a way to calculate the business-use percentage of your vehicle expenses for tax deduction purposes in Australia. This method is suitable if you use your vehicle for both personal and business purposes and want to claim a higher deduction. Here’s how…

Changes in Superannuation Rates

What You Need to Know About Changes in Superannuation Rates Superannuation rates in Australia are set to change, impacting how much employers contribute to their employees’ super funds. Understanding these changes is crucial for both employers and employees to ensure compliance and maximise retirement savings. Key Changes Increase in Superannuation Guarantee Rate From 1 July…

Software Consultation for Businesses – Quickbooks

Quickbooks Accounting Software Quickbooks has recently launched a new product – an affordable, easy-to-use online accounting software for small businesses. You can always have a one-month free trial to test if it suits best for your business. Book now for a free meeting about your accounting software choices. Some exceptional features of Quickbooks are listed…