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2025 Individual Tax Return Checklist
Our individual tax return checklist. will assist you in preparing your tax return & getting your maximum refund
June 2025
Topics Include
- 2025 Tax Planning Guide Part 1
- 2025 Tax Planning Guide Part 2
- Guide to buying a business.
- $20,000 instant asset write-off
- 2025 tax time checklist
Cars - Companies & Trusts
There are different Tax & GST treatments depending on the type of car you purchase, the entity type that purchases it, and who drives it
Cars
These are motor vehicles which are designed to carry both:
-a load less than one tonne
-fewer than 9 passengers
Examples: sedan, SUV
Other Vehicles
These are vehicles which ARE NOT designed principally to carry passengers
Examples: van, single cab ute
Some vehicles i.e. dual cab utes can be either a Car or Other Vehicle so the specifications need to be reviewed
If unsure as to what type of vehicle you are buying speak to your accountant BEFORE buying it
... read moreMarch 2025
Topics Include
- Spouse Contribution Splitting
- Exploring early compassionate release of super
- Choosing the right structure for your business
- Are payments made to Contractors considered as wages?
- Is it time for a website upgrade or makeover?
- Cash is King
Renting out your home
I am looking to rent out my home (main residence) and move into my holiday home
Questions:
-Can I negatively gear my home?
-What records do I need to keep?
Macquarie Bank
We are aware of scammers posing as Macquarie Staff, requesting 'authorisation codes' to cancel payments. Never share authorisation codes, passwords or card details, as these can be used to make fraudulent payments. If you have doubts about communications you have received contact scams@macquarie.com. Stay alert to risks at the Macquarie Scams Hub
... read moreChasing up Debtors
You need to be consistent and follow up
Sometimes you are at the mercy of your customer i.e. they pay 30days from statement - if this is the case then you can't do much other than send the statement on time ie 1st day of the month
If you can force your client to pay prior to the work being done then great - that alone should get you paid
If not then consider getting the to pay for your costs upfront that way at least they are covered
Set your terms eg 7days from invoice
Automate as much as possible
... read moreDecember 2024
Topics Include
- Chritmas Parties and Fringe Benefits
- Cyber Security for Small Business
- Business Success Tips
- How to read a Balance sheet
Westpac Scams what we never do
If you are contacted by someone who claims to be Westpac, including those claiming to be from our Fraud or Security team, we will never ask you to complete any of the following actions:
• Share a Password for Online Banking
• Read us an Online Banking Security Code, sent via SMS Code or displayed on a Token
• Ask you to install software that allows us to connect to your device (e.g. Anydesk/Team Viewer/Zoho/Splashtop)
• Sign into your Online Banking with remote access software on your device.
If you receive a call like this, please hang up immediately and call us on 132 032, who can validate any banking activity.
September 2024
Topics Include
- Estate Planning Considerations
- 5 Checklists to Support your Business
- Supperannuation Changes from 1 July
- End of the Road for your Business
- Changes to Casual Employment
- 7 Steps to Dealing with a Legal Dispute
- ‘Bleisure’ travel claims in ATO sights
Sole Traders using bank statements
What information do I need to provide prior to my appointment?
... read moreSole Traders using Excel
What information do I need to provide prior to my appointment?
... read moreSole Traders using Xero, MYOB etc
What information do I need to provide prior to my appointment?
... read moreScam - New MyGov Message
New scam doing the rounds at tax time
It's pretty obvious that its a scam when you look at the url and poor gramamar
Log into MyGov using your app - NEVER click on a link from an email
... read more2024-2025 Australian Government Budget for Individuals
2024-2025 Australian Government Budget for Individuals
Easing the cost-of-living pressures, taking pressure off Australians
... read more2024-2025 Australian Government Budget for SBE
2024-2025 Australian Government Budget for Small Business
Delivering a better deal for small businesses
Company wages, dividends & drawings
Company owners can take company profits as
1-Wages
2-Dividends
Sale of Rental Investment Property
Here is a list of information required to work out the capital gain / loss on the sale of your investment property
... read more2024 Individual Tax Return Checklist
Our individual tax return checklist. will assist you in preparing your tax return & getting your maximum refund
Cars - Sole Traders
There are different Tax & GST treatments depending on the type of car you purchase and the entity that purchases it
Cars
These are motor vehicles which are designed to carry both:
-a load less than one tonne
-fewer than 9 passengers
Examples: sedan, SUV
Other Vehicles
These are vehicles which ARE NOT designed principally to carry passengers
Examples: van, single cab ute
Some vehicles i.e. dual cab utes can be either a Car or Other Vehicle so the specifications need to be reviewed
If unsure as to what type of vehicle you are buying speak to your accountant BEFORE buying it
... read moreJune 2024
Topics Include
- 2024/2025 Federal Budget
- Tax Planning - 2024 Year End
- Tax Return Checklists
ATO PAYG tax instalments
Q1- My personal tax return has just been prepared and I am getting a tax refund of $2,000 but I also have an activity statement debt of $8,000. Why is that?
Q2- Why does the ATO want me to pay tax instalments?
Q3- Can I vary the ATO instalments?
... read moreMedicare Levy Surcharge
If your adjusted taxable income is greater than the applicable threshold and you don't have appropriate private health insurance for the full year then you will be liable for the medicare levy surcharge
... read moreExcel Cashbook - 2024 Tax Year
Recommended for Sole Traders ONLY who are
-Not registered for GST
-Not employing staff
March 2024
Topics Include
- Stage 3 Tax Cuts
- R&D Claims
- Business Growth & Profits
- Debt Recovery
- Spam Act
Sole Trader - complete guide
- Asset Protection
- Income
- Expenses
- Tax
- GST
- Buying a business
- Selling a business
- Other
Starting a new business
Xero Toolkit
- Research
- Setup
- Finding & selling to customers
- Getting paid & paying others
- Business accounting 101
- Xero free trial
Software Options
- Xero (recommended)
- MYOB Account right / Essentials
- Quickbooks Online
- Excel
Excel Cashbook - 2025 Tax Year
Recommended for Sole Traders ONLY who are:
-Not registered for GST
-Not employing staff
2023 Individual Tax Return Checklist
Our tax return checklist. will assist you in preparing your tax return & getting your maximum refund
December 2023
Topics Include
- Fighting Inflation
- Business Structures
- I am making a profit so where has the cash gone
- Work Christmas parties & FBT
- Directors & cyber security
Company or Trust?
Coming Soon
2024 Christmas Trading Hours
Please note that our office will be closed on Friday 20th December 2024 and will re-open on Wednesday 8th January 2025 at 9am
We would like to take this opportunity to thank you for your continued support and to wish you and your family a Merry Christmas, and best wishes for a Happy and Prosperous New Year!
Making Appointments
There are 3 appointment options:
Option 1 - Face to face appointment
Option 2 - Phone appointment
Option 3 - You can email your info / documents through – we’ll draft it and email you with our questions
Sole trader / contractor tax returns are more involved and many of them cannot be completed on the spot - for these tax returns you'll need to choose Option 3
If you have a Xero, MYOB, Quickbooks or other bookkeeping file you'll need to invite us into your file
We'll also need a bank statement @ 30 June so we can check the balance against your bookkeeping file
... read moreSeptember 2023
Topics Include
- Contractor Payments (TPAR)
- Trade Marks
- Selling your business
Tax Return Process - Business Clients
Steps we follow to prepare your business tax return
... read more