by Davie Mach | Aug 26, 2021 | BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook, Small Business Handbook, Tax Planning, Tax Planning
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...
by Davie Mach | May 20, 2021 | BAS, Tax Returns & Financial Statements, Contractor Handbook
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...
by Davie Mach | Jan 28, 2021 | Contractor Handbook, BAS, Tax Returns & Financial Statements
Did you know that as an Uber driver, you’re considered an independent contractor? This means that you’re entirely responsible for fulfilling your own tax obligations each year. The income you earn as an Uber driver is assessable income and must be reported in your...
by Davie Mach | Jan 3, 2020 | Small Business Handbook, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook
So you or your accountant has been notified that an ATO review and/or an ATO audit will take place on your tax return. What do you do? Facing an ATO audit is unwelcome scrutiny that no taxpayers would like to be subjected to. Not only that, they can wind up costing...
by Davie Mach | Jul 21, 2019 | Small Business Handbook, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Contractor Handbook
Failure to lodge penalties are enforced by the ATO when businesses are not meeting their reporting obligations. If you have received such a penalty, don’t despair just yet. In this article, we explain exactly how you can have this remitted. ...
by Davie Mach | May 23, 2019 | Contractor Handbook, BAS, Tax Returns & Financial Statements, BAS, Tax Returns & Financial Statements, Small Business Handbook, Tax Planning, Tax Planning
Many people hear about tax deductions but don’t precisely understand how tax deductions work in Australia. So the obvious question is, how do tax deductions work? In a nutshell, tax deductions can assist with increasing your tax refund. As a business owner, you...
