Are you required to complete an annual tax return this year?
When was the last time you took time off work or sacrificed a lunch break to complete your annual tax return?
Did you know that over 1. 8 mil. taxpayers in Australia last year completed their annual income tax return online? That’s right, over 1.8 mil [...]
Two Mortgage Choice surveys have identified that Australian women plan to take decisive action with their financial positions this year.
The Mortgage Choice survey reported:
“The perception of property as a ‘safe’ investment was on the increase, with 65% of females saying the credit crunch made investing in property seem safer than shares (compared with 63% of [...]
I have to buy tools/equipment for my job. What can I claim and how much?You are able to claim expenditure incurred in replacing, insuring and repairing tools of trade that you use for earning your income. The amount you can claim will depend on what records you have kept.My job requires me to keep my [...]
I have to buy tools/equipment for my job. What can I claim and how much?You are able to claim expenditure incurred in replacing, insuring and repairing tools of trade that you use for earning your income. The amount you can claim will depend on what records you have kept.My job requires me to keep my [...]
There were quite a few changes affecting 2009 – 2010 tax returns in the 2009 budget. Fortunately, the rate of medicare levy is unchanged with income thresholds increasing resulting in less medicare levy payable.
However, there are other changes that are relevant for the 2009 tax return and beyond:
Medicare Levy Surcharge for 2009 changed ==> Surcharge [...]
Planning on making a voluntary HELP repayment?
If you have a HELP debt and plan to make a voluntary repayment, you can make repayments to the Tax Office at any time and for any amount. You may receive a bonus of 10% of the payment amount for repayments that:
are $500 or more, or
clear your debt.
You [...]
Choosing a business structure when starting up a business is an important element of the setup phase.
Business structure is important as it can impact on taxation, liability of owners, succession, ownership issues and disposal of your business.
Trust is a relationship where a business is transferred to a third party (trustee) who has legal control and [...]
Anyone can do their own tax return. 75% of 2009 tax return preparers will use a tax agent to complete their returns.
Many want to do it themselves to save money and avoid the hassle of finding a reliable tax consultant, waiting for appointments or wondering if the ATO will audit their return.
This is where we [...]
Choosing a business structure when starting up a business is an important element of the setup phase.
Business structure is important as it can impact on taxation, liability of owners, succession, ownership issues and disposal of your business.
A company is a legal entity separate form its shareholders and is managed by a director who has additional [...]
Marginal tax rates and thresholds for the 2010 year were announced in the 2009 Budget:
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Current tax thresholds from 1 July 2008 tax thresholds Income range ($)
Tax rate%
New tax thresholds from 1 July 2009 tax thresholds Income range ($) [...]
