As we head towards the end of another financial year, here are some things you can do to prepare for tax time. Before 30 June, check if there are any tax-deductible items your business may need, or any concessions you can access. You could be eligible for simplified depreciation rules, the small business income tax offset, immediate…
Read more
The following provides important information and instructions to complete and lodge your tax return. Who can complete your tax return? You can get someone else to complete your tax return for you: Whoever helps you: Lodge your tax return by 31 October 2023 If you’re lodging your own tax return, you need to lodge it…
Read more
As part of the 2023–24 Budget, the government announced a lodgment penalty amnesty program for small businesses. For lodgments eligible for the amnesty, failure to lodge (FTL) penalties will be remitted, without the need for you to apply. You might see an FTL penalty on your account for a period of time, but we will remit it.…
Read more
Use this checklist to review the health of your super in 5 easy steps. Why you should review your super Your super is one of the biggest assets you’ll accumulate in your lifetime. However, many Australians think they don’t need to worry about their super until retirement. Some don’t think about it at all. It’s…
Read more
The economy is facing headwinds this year, which will be unfamiliar to many after an almost 30-year run of growth and a post-pandemic boom. Here we explain what you might expect in the months ahead, and what history has taught us about economic highs and lows. What’s in store for the rest of the year? The Australian economy is forecast to follow many…
Read more
My experience with Mick Doyle from Accountplan is that he is not only friendly but also very professional. His help has been integral in growing my business and investment portfolio over the last year or so. Mick and the team at Mark Accountants Caloundra helped me to set up an SMSF that went on to…
Read more
Cyber criminals will be hunting more than just money this end of financial year (EOFY) – remember to keep your guard up. As Australia approaches the EOFY, brokers, individuals, organisations and their employees should stay alert to phishing, smishing (SMS phishing) and vishing (phone call phishing) scams. Cyber criminals attempt to take advantage of this…
Read more
Tax time essentials, learning resources, tools and services to support small business. Tax time essentials The ATO offer a range of tools and services to make it easier for you to get your tax and superannuation right. They want to help you manage and grow your business and get back on track if you need…
Read more
Posting make-up tutorials to social media? Writing for a blog or streaming gaming for others to see? Congratulations, you’re a content creator! If you start making money from your online content, you’ll have income to declare, and you’ll need to consider whether you’re in business. If you are, or you want to start your own business, it’s…
Read more
If you disagree with a decision the ATO have made about your tax affairs, you may be able to use one of their free options for resolving disputes. You can use their in-house facilitation service for tax and super matters at any stage from audit up to litigation, where appropriate. It’s a free mediation service where an independent accredited ATO…
Read more
