The tax-free threshold is the amount of income you can earn in Australia each financial year before you’re required to pay any income tax. For the 2025–2 financial year, that amount is $18,200. This threshold applies to individuals who are considered Australian residents for tax purposes. If your total taxable income for the year is…
Get the latest information on ATO audits, including what happens during an audit, what can be audited, and why
When running a business, you’re always looking for ways to reduce costs and maximise your bottom line. One often overlooked opportunity is claiming fuel tax credits. Diesel fuel, being a significant part of fuel expenses for many businesses, plays a big role in this context. So, by understanding how fuel tax credits work and following…
Every year, millions of Australians submit their tax returns hoping to reduce their taxable income through tax deductions. Tax deductions can lower the amount of your assessable income that’s subject to income tax, potentially saving you thousands of dollars each year. But understanding what expenses you can claim and how to claim them correctly can…
As a business owner in Australia, you are likely familiar with Business Activity Statement (BAS) payments. Every quarter, you report your business’s Goods and Services Tax (GST), Pay-As-You-Go (PAYG) withholding, PAYG instalments, and possibly other taxes via your BAS. For many businesses, this can feel like a heavy financial burden, particularly if your cash flow…
Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.
Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.
Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.
Doctors are among the highest-earning professionals in Australia. And the higher the income, the higher the marginal tax rate. But did you know that as a medical professional, you’re eligible for a pretty long list of deductions? Unfortunately, however, many doctors are missing out because they don’t know what tax deductions they can claim. So,…
Cryptocurrency has undoubtedly experienced explosive growth over the last couple of years – but how does tax on cryptocurrency in Australia work? With governments worldwide cracking down on managing the tax implications of cryptocurrency, you would likely have had to start reporting cryptocurrency on your annual tax return. In Australia, it’s no different – if…
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