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The Essential Single Touch Payroll Checklist

Running a business in Australia? Then you know how vital it is to keep your payroll in check.  It’s not just about ticking boxes for the tax man; it’s about steering clear of pesky fines and keeping your business running smoothly. Plus, it’s how you show your team they’re valued- by paying them correctly and…

Tax Lawyer vs. Tax Accountant: What’s the Difference?

Just like choosing between a GP and a specialist depends on your ailment, picking between a tax accountant and a tax lawyer depends on your financial situation.  Are you dealing with straightforward income and deductions, or are you wrestling with complex tax-related legal issues?  This article will explore the unique skills and areas of expertise…

What to Take to an Accountant for a Tax Return: The Ultimate Checklist

Being unprepared for your tax agent at tax time can lead to delays, extra fees, and a whole lot of stress. Forget one essential document, and you can be back to square one! But there’s no need to worry; we’ve put together the ultimate checklist for what you should take to your accountant for a…

Best Banks for Small Business Loans

Did you know that 97.3% of businesses in Australia are small businesses?  Small businesses are the unsung heroes of Australia’s economy, creating jobs and driving innovation in all communities. For your small business to thrive, knowing where to turn for financial support makes all the difference. So stick around as we guide you through the…

Outstanding Business Tax Debt

Last July, over 22,000 Australian businesses received warnings from the Australian Taxation Office for having tax debt over $100,000 that is more than three months late.  The ATO is on the hunt for a staggering $5 billion owed by businesses fitting this criteria. They’re setting a firm boundary to make things fair for everyone in…

Property Fringe Benefits: Know the Rules

Property fringe benefits are like the icing that turns a plain cake into an enticing treat.  A standard employment package includes salary, annual leave, and standard benefits. While adequate, it might not stand out in a competitive job market.  On the other hand, property fringe benefits make your employment offer more appealing to help you…

New Tax Reporting Law for Platforms Within the Sharing Economy

If you operate any form of asset or service-sharing platform, you need to know about the recent change in tax law. This applies to ridesharing or taxis and short-term accommodation. From July 2024, it will also be rolled out to meal delivery platforms, and all other task-based services, assets and supplies within what is known…

Statutory Demand Services

Is your business facing a mountain of debt and struggling to keep up with payments?  Have you recently received a statutory demand?  This formal legal document demands payment from whoever your company owes money to, be it a creditor or the Australian Taxation Office (ATO).   If you have, you’re understandably feeling overwhelmed and stressed. But…

Non-Reportable Fringe Benefits: Examples To Understand

Non-reportable fringe benefits are a valuable way for employers to provide benefits to their employees without incurring additional tax liabilities, as these benefits aren’t subject to fringe benefits tax. Employees also benefit, as non-reportable fringe benefits aren’t included in their taxable income. Let’s explore some examples of non-reportable fringe benefits in Australia. Adoption, Maternity &…

Reportable Fringe Benefits & Salary Packaging: What You Need To Know

Reportable fringe benefits and salary packaging are crucial aspects of employment that impact both employers and employees. Understanding the rules and regulations surrounding these benefits is essential for ensuring compliance with tax laws and maximising the value of compensation packages.  In this article, we’ll delve into the key concepts of reportable fringe benefits and salary…