Posts

small business tax gap
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The small biz tax gap

Last month, the ATO released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated ‘tax gap’. These new figures give visibility to tax compliance issues within the small business sector…
International travel

Travel for work – what can I claim?

This is a question that we get quite often. Everyone likes to hope that they can go overseas and claim it as a business expense. But can you? The short answer is sometimes, yes. But often not the entire trip. Firstly there needs to…
Lego tax deduction fail

Weirdest tax deductions revealed

Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation Office’s 2018-19 list of most unusual claims. The Lego was not the only claim for money spent…
Rental Investment

Own an investment property?

Get ready for tax time Tax time has arrived, and we have put together some practical information to help rental property owners prepare and lodge your tax return this year. There are helpful resources available for rental property…
1 July changes from the ATO
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1st July changes: what you need to know

As of 1st July 2019 there were some changes that came into affect. This includes: Insurance inside Superannuation funds We let you know the tax tip-offs from the ATO Laundry expenses are going to be reviewed Who owns the assets…
tax from your couch

Tax from your couch

Life is busy – we not only get it, but this year we are actually embracing it by making a way to do your tax without actually coming in. This year we have introduced a new way of doing tax. From your couch. Yep you heard that right. It's…
30 days of june tax tips

June tax tips

Throughout June we will be sharing some tax tips for businesses this coming tax time. These will be short and sweet and we hope you will learn something for this upcoming tax season. 1. Working from home  If you don’t have a dedicated…

What are PAYG Instalments?

PAYG Instalments, something that alot of our clients get confused about. Pay as you go instalments (PAYG) get issued by the ATO, and you get sent a welcome or adjusted letter. But do you understand it? Shaun Farrugia explains all you need…

Phone tax appointment

We know you're busy, if you'd like to have your tax appointment by phone or Zoom that is easy to do. We explain what we need you to email through to us prior to your appointment.

Offset vs Redraw

Shaun Farrugia recently created this video to explain a question that was on a few of our clients lips. Watch below to hear the difference between an offset and a redraw account on your home loan. This is a question we do get very often,…

What is debt recycling?

We all know that recycling is great for the environment. But debt recycling? Well, if done right, that could be great for your own little patch of planet earth. There are three things that many Aussie property owners wish they could do:…

Don’t blow it. Make the most of your tax refund

Most Australians receive a tax refund, but not all spend it wisely. Here’s how to make the most of your tax windfall – and not blow it all in Bali. It's now October, and we have already lodged most of our clients individual tax returns.…

What makes your debt tax deductible?

There are two kinds of debt in this world: the kind that is tax deductible and the kind that isn’t. Knowing the difference, and planning your purchases accordingly, can significantly improve your cashflow, opportunities and overall…
Salary sacrificing Australian tax

Could you benefit from salary sacrificing?

Keen for a new laptop, car, or even an airport lounge membership? Sick of putting your hand in your pocket for school fees, the rent or your mortgage? All of these things could be paid for through a salary sacrifice arrangement. With…
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Calculators online

We have put together some online calculators to help you research prior to coming in and seeing us work out the knitty gritty. We know that knowledge is power, and we want you to have the most information possible. Head on over to our calculators…
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Budget wrap-up 2018

Tuesday night Scott Morrisson handed down what can be best described as an pre-election Budget and in our opinion a very tax centric budget. No major announcements of increases or decreases in service spend and It is still expected that…

Do you know what you can and can't claim?

Taxpayers are being put on notice by the ATO, which will be paying close attention to claims for ‘other work-related expenses’ this year. Ensuring you have appropriate records, and sound advice, will be more important than ever for…

Four business hurdles that trip up first timers

Whether you’re keen to start monetizing a passion project, or want to finally escape office politics and run your own show, here are four issues that regularly trip up new business owners. Starting your own business is an exciting time.…
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Improve your finances one month at a time with this 2018 to-do list

It’s easy to get overwhelmed with a long list of tasks, so we’ve simplified things for you. Just tackle one job on this list each month and you’ll make a huge difference to your finances in 2018. January: Create a monthly family budget…

Make sure your New Years resolution includes a home loan health check

Whenever we think of New Year’s resolutions, we always seem to commit to improving our physical wellbeing rather than our financial wellbeing. Whether that involves signing up to the gym, getting a personal trainer, or subscribing to…
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Dissecting the PM's Tax cut teaser

You may have heard the PM drop a big hint earlier this week that tax cuts are coming for middle-income Aussie families. However it was all very light on detail, so here’s what to make of it. In case you missed it, here’s the tidbit…

List of possible deductions

Can you believe it's tax time again already? As our appointment bookings flood in, we wanted to share with you a list of possible deductions and what to bring with you on the day. We don't want you to miss out on any of those precious deductions…
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2017 Budget wrap-up

We have put together a summary of the key tax and financial changes that were announced in last night’s federal budget. This was Scott Morrison's 2nd budget and is focused on increased transport infrastructure spending which will support…
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Your 2 minute guide to the tax and super changes that affect you and your business.

Below is a summary of the key tax and superannuation changes that were announced in this years federal budget. There are some wins for business – aimed to stimulate ‘Jobs & Growth’ which was this year's slogan. There are plenty…