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 higher than this from each dollar over $45000 So businesses can take advantage of the lower individual tax rates by paying themselves individual income from…

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Contractor or an Employee?

  The criteria ATO consider whether you are an employee or contractor are:         Break free with Tax Accounting Adelaide Services call us on 83374460 Sole trader, Partnership, Company and Trust Tax and BAS returns; Self Managed Super Funds; Bookkeeping and Choosing Accounting Software; New business Startups Advise; Specialising in personal training…

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Grow Your Business With Budgeting

Tax Accounting Adelaide has recently seen that the power of Budgeting and how it can drive the business towards its goals. So taking your sales goal of say 300k, you need to break this down by months. Budgeting is very easy via Xero. Our firm endorsed Xero and one of the reasons is how the…

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Small business Tax and BAS return Tool!

Use the templates below to assist in Tax and BAS returns!   business income and expenses by Romeo Caporaso pdf  PDF version print and write on it business income and expenses by Romeo Caporaso Xls version spreadsheet.   Break free with Tax Accounting Adelaide Services call us on 83374460 Sole trader, Partnership, Company and Trust…

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What to Bring for Your Individual Tax Return

What to Bring for Your Individual Tax Return

So what do you need to bring for your individual tax return appointment? 1. A copy of your last tax return 2. Your tax file number 3. Payment summaries of employment government or super payments 4. A hospital cover tax statement 5. Bank interest and dividend amounts 6. Your bank details for your refund 7. Your…

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Updating Your home insurance

Updating Your Insurance for the New Year! 2016 is here and now is a good time to start updating your home and contents insurance policy. Don’t put this off because you think it will cost you money, it will cost you much more money in the long run if you don’t update your insurance cover,…

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is it ATO or Scammer? Look Out

Some of my clients have reported people ringing from supposedly the tax office and it can be a fraud as they request tax payments from you. Here is an excellent publication from the ATO on the various types of scammer out there. It might be worth seeing if any of these example seem similar to…

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Lodging your late tax returns doesn’t have to be a drama

Lodging your late tax returns

Hassle-free Late Tax Returns lodged No problem Tired of the stress of knowing your tax returns are way overdue… Have you been too afraid to take on your overdue tax returns? You are not the only one. We have many clients who have been in this situation. Are you worried about all the ATO penalties…

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Claiming car expenses

  What you can claim Did you know you may be able to claim the cost of your car when travelling when: You travel between two separate workplaces – like having two jobs or between two branches from your normal workplace to an alternative workplace (for example, a client’s premises) while still on duty, and…

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Most common mistakes for personal tax

Did you know what the most common mistakes on individual tax returns are Surprise surprise – it is omitting income. So if you are not yet aware the ATO can easily detect you omitting income such as payment summaries, interest, dividends, Centrelink payments and even capital gains all via your TFN being attached to records…

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What Can I Claim

No one should miss out on claiming their deductions Your tax agent can assist you claim deductions which stop you paying your marginal tax rate on the amount you spend on the deductions. It is always important to help your accountant do the best job for you by keeping your receipts and collaborating with them to…

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Why You Should Only Use a Registered Tax Agent

Tax season is coming, are you thinking of looking for a good tax agent to maximise your tax benefit? Here are some of the benefits to have a registered tax agent: Tax agents must register with the Tax Practitioners Board and follow strict regulations when processing tax returns. They are the only people allowed to…

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Tax deductions for employees

Here is what we need to know if you are an employee and booking in for your tax. Tax Accounting Adelaide Tax Deductions for employees pdf (click to download) Tax Accounting Adelaide Tax Deductions speadsheet version (click to download) Leave us some information here and we can book in for your tax

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Book In For Tax Return Now

Are you wanting an accountant on your side for tax minimisation and wealth creation? We are an individual tax return specialist wanting to guide you to an optimal refund now and in the future. Not only do we make it easy to get the best refund this year, we review your personal circumstance to guide…

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Tax Returns Explained Simply

Watch this video to find out how it all works in your tax return refund or payable. See tax rates below A simple tax return is really not that simple. But let me dumb it down so if you have never really understood it, you soon will. You start with Incomes (like wages and salaries)…

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