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Knowing what you can claim from travel allowances and expenses can be difficult as in some cases, tax deductions from an allowance are to be withheld unless specified otherwise.
The reasonable amount of travel expenses is updated yearly and is based on job type and salary. On the occasion that you are required to travel overnight for work,... more
Goods and services tax (GST) is applied to most goods and services sold in Australia, taxed at a rate of 10%.
If you run a business, you are likely to have GST obligations, such as claiming credit for any GST included in the price of goods and services that have been purchased for your business. However, many businesses have expenses that... more
The 2019 Federal Budget focuses on rewarding working Australians, with the emphasis on a two-pronged approach for “hard-working” individuals.
From the 2018-2019 income year, the low and middle-income tax offset (LMITO) has been increased by $550. This now means individuals... more
The vocational education and training (VET) sector is receiving an investment of $525 million over a five year period to equip workers with the skills they need.
Additional Identified Skills Shortage Payment
The Additional Identified Skills Shortage Payment has been created to support up to 80,000 new... more
The 2019 Federal Budget focuses on building a better tax system for Australian businesses in order to create a stronger economy.
Instant asset write-off:
The instant asset write-off threshold will be increased from $25,000 to $30,000 and be extended from businesses with an annual turnover... more
The ATO often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations.
Due to enhancements in technology, the ATO has expanded its data matching capabilities which have improved the ability to identify incorrect reporting in tax returns.
The ATO has released a list of... more
Hand on heart, how long has it been since you really looked at your business?
Running a business can become repetitive, comfortable and habitual – potential roadblocks for enhancing your bottom line profit. Ask yourself the following questions:
When was the last time you...
Improve your niche marketing strategy to stay ahead of the game.
A niche marketing strategy is one that targets a specific subset of a market and is not a strategy that is ideal for every business. However, if you have determined that a niche marketing strategy is right for your business, here are some things for you to consider to... more