Tax
Sole Trader - complete guide
- Asset Protection
- Income
- Expenses
- Tax
- GST
- Buying a business
- Selling a business
- Other
2023 Individual Tax Return Checklist
Our tax return checklist. will assist you in preparing your tax return & getting your maximum refund
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 moreTax Return Process - Business Clients
Steps we follow to prepare your business tax return
... read moreJune 2023
Topics Include
- The 2023-24 Federal Budget Highlights for Individuals, Small & Medium Business, and Superannation
- 2023 Year End Tax Planning Guide
- 2023-2024 Tax Return Checklist
... read more
2023 Australian Federal Budget for SMEs
-Individuals
-Small and medium businesses (SME)
-Superannuation
-Administration
Sole Trader - What deductions can I claim?
Small Business Entities (SBE) can generally claim everything they spend on the business, except expenses which of a private or capital nature
... read moreSmall Business Technology Investment Boost and Small Business Skills and Training Boost (ends 30/06/2023)
Small Business Technology Investment Boost and Small Business Skills and Training Boost (ends 30/06/2023)
... read moreAdditional tax on concessional contributions (Division 293) – for individuals
Division 293 tax is an additional tax on super contributions, which reduces the tax concession for individuals whose combined income and contributions are greater than the Division 293 threshold.
... read moreDecember 2022
- 4 Myths of Starting a Business
- Company Director ID Deadline Extended to 14 Dec
- ATO Identify 3 Primary Targets for Individual Taxpayers
- ATO is Watching the Cash Economy
- ATO Fines to Increase
- Expansion on Single Touch Payroll Phase 2
- Hello 2023 - is it Time for a Business Health Check?
Sale of Rental Property checklist
Use this checklist to provide all of the necessary information to us to calculate the capital gain on the sale of your taxable property
Save tax by contributing extra $ into super
Did you know that you can save tax by contributing additional $ into super. Conditions Apply
... read moreATO Tax Time Information - Home Office Expenses (D5)
-Running expenses
-Occupancy expenses
-Phone and internet
ATO Tax Time Information - Car Expenses (D1 & D2)
Choose from 2 methods
Method 1 = Logbook
Method 2 = Cents per kilometre
Tax Planning - Trusts
Tax planning is the process of estimating your current year's taxable income and tax payable and taking steps to minimise this.
It involves these 4 steps.
... read moreBuying a car
IMPORTANT: If unsure as to whether your vehicle / dual cab ute is an exempt vehicle please contact us BEFORE purchasing it
... read more2022 Federal Budget Summary
Compared to past years, this year’s Budget is a little bland however, it does include some ‘sweeteners’ to keep the electorate favourably disposed toward the incumbent Government, come election day.
Buying a Car
IMPORTANT: If unsure as to whether your vehicle / dual cab ute is an exempt vehicle please contact us BEFORE purchasing it
... read moreATO Tax Time Information - Employees working from home during COVID-19 (D5)
Running Expenses
-fixed rate method
-actual expenses
-short-cut method (COVID-19 only)
ATO Tax Time Information - Self-education Expenses (D4)
General expenses eg course fees and books
Depreciating assets eg laptop
Car expenses
ATO Tax Time Information - Clothing & Laundry Deductions (D3)
Occupation specific
Protective
Compulsory uniform
Non-compulsory uniform (registered with AusIndustry)
ATO Tax Time Information - Travel Expenses (D2)
Tolls
Parking
Motor vehicles (other than cars)
Local travel
Overseas travel
Car Expenses - which trips are claimable as work trips (D1)
Which trips are claimable as work trips?
... read more