Serving Sydney’s Inner West
As 30 June approaches, many businesses are asking how they can save tax for the year. There’s lots of noise about the instant asset write off and many of the large retailers are offering discounts to entice you to spend before the end of the financial year. But before you leap in, this is only one of the ways to save tax. Here are 10 tax saving tips for you to think about before you head out to your nearest computer retailer. Continue reading “10 tax planning tips for small business”
The Happy EOFYS adds have started on tv and in the newspapers, so you know we must be only a few weeks until the end of the financial year. But, you’re an individual Pay As You Go salary earner, so nothing to see here – right? Wrong! While it’s true that most of these adds are targeted to the business owner, as a wage earner, there may still a few things you can do before 30 June to reduce your tax. Continue reading “How to save tax in 2019”
Want to sort out your Assets from your Accruals? Here are some commonly used accounting terms so you can talk like an accountant! Continue reading “Sorting through the accounting jargon”
London’s calling and you’re about to head overseas on an adventure. You plan on being away indefinitely and hope to land the dream job in the UK. Sounds like a great plan, but what about the tax consequences? Will you need to lodge a tax return? What about the salary you earn while you’re away – it won’t have to be declared here. Or will it? The answer depends on whether you are considered an Australian resident for tax purposes. Continue reading “Australian tax resident? It’s different to being a citizen…..”
At this time of year, I often get asked about PAYG income tax instalments – mostly because you’ve just lodged your return and the Tax Office have sent you a letter. So if you’re in that position, here are the answers to some of the frequently asked questions. Continue reading “PAYG income tax instalments… Frequently Asked Questions”
Claiming travel in your tax return is one of the (many!) confusing parts of preparing your tax return. But you shouldn’t let that stop you from claiming what you are entitled to. So, let’s keep you off the Tax Office’s radar but maximise your deductions. Continue reading “The Do’s and Don’ts of claiming travel”
According to recent press releases from the Tax Office, there will be more than 1 million Australian taxpayers being contacted about their 2017/18 tax returns…. and you’re not alone if the thought of a call from the Tax Office makes you a little nervous! The latest estimate suggests that errors and fudging in tax returns costs the Government $8.7 billion per year. Continue reading “How to maximise your tax refund…. without panicking about an audit!”
One of the things i am most often asked by clients, is whether they can claim work clothes as a tax deduction. The good news is there are certain circumstances where you can claim work clothing as a legitimate tax deduction… but of course there are some guidelines that need to be adhered to. Continue reading “Can I claim work clothes as a tax deduction?”
