How Do Tax Deductions Work Australia
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What Can I Claim on Tax in Australia?

ByDavie Mach

Are you wondering what expenses you can claim as tax deductions in Australia? Understanding how to claim tax deductions for work-related expenses can help you reduce your taxable income and potentially get a bigger tax refund. This comprehensive guide will cover everything you need to know about claiming deductions on your Australian tax return. How…

Tax Minimisation - Reduce Your BAS
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How to Reduce BAS Payments for Your Business

ByDavie Mach

As a business owner or manager in Australia, one of the most crucial responsibilities you’ll encounter is managing your Business Activity Statement (BAS). Having an Australian business number (ABN) is essential for registering for GST and receiving a BAS automatically when it’s time to lodge. These regular tax obligations are fundamental to running a compliant…

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What Can Teachers Claim on Tax? (+ Checklist)

ByDavie Mach

Did you know that teachers and those working in education are entitled to various industry-specific teacher tax deductions? These teacher tax deductions can significantly benefit your annual tax return, so it’s worth equipping yourself with the knowledge presented by the Australian Taxation Office (ATO). How do you qualify to claim teacher tax deductions? What are you…

Division 7A Loans
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Are Division 7A Loans Bad?

ByDavie Mach

Are Division 7A loans bad? This query has echoed louder in the financial corridors with the recent uptick in interest rates. This article unpacks the intricacies and ramifications of Division 7A loans, shedding light on their real impact amidst evolving financial landscapes. What are Division 7A Loans? Division 7A loans are a provision within the…

accountant for doctors
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How To Choose The Best Accountant for Doctors

ByDavie Mach

Medical professionals constantly juggle their day-to-day practice with the business side of things.  But let’s face it, as a doctor, you’ve got your hands full with patient care, so management and financial planning tends to take a backseat.  While a doctor’s primary goal is to focus on providing health services to their clients, they mustn’t…

The Ultimate Guide on Tax Implications on Salary Sacrificing And Salary Packaging

The Ultimate Guide on Tax Implications on Salary Sacrificing And Salary Packaging

ByDavie Mach

Did you know that as an Australian taxpayer, you could legally reduce your tax liability through a salary sacrifice or salary package agreement?  In this article, we’re going to take a look at the various tax implications associated with this option. And while the word ‘sacrifice’ might not necessarily sound like a positive implication, salary…

tax deductions for doctors
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The 9 Best Tax Deductions For Doctors

ByDavie Mach

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,…

Reduce Taxable Income - Individuals
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8 Ways on How to Reduce Taxable Income for Individuals in Australia

ByDavie Mach

Although paying tax is inevitable, most people want to determine how to reduce taxable income. Did you know that through effective tax planning you could pay less tax and walk away with more money in your pocket each financial year? But what does effective tax planning entail? What are the simplest ways to determine how…

Work from Home Deductions
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6 Working From Home Deductions You Can Claim

ByDavie Mach

If you’re an employee who works from home, you may be able to claim a deduction for your working from home expenses.  2020 brought about many changes due to the worldwide coronavirus pandemic. One of the most predominant changes was seen in the work industry – many employees had to alter their work arrangements so…

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Personal Services Income: 4 Steps To Tell If You’re Subject to PSI Rules

ByDavie Mach

Following the Review of Business Taxation report in 1999, various recommendations were made due to growing concerns that individuals were sidestepping the tax implications of personal services income through the use of interjectory companies. contract As a result, many individuals were getting away with paying less income tax and having access to greater tax deductions…

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