by Davie Mach | Oct 19, 2023 | News, Small Businesses, Tax Planning
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...
by Davie Mach | Nov 30, 2022 | Accounting, Accounting, BAS, Tax Returns & Financial Statements, Contractor Handbook, Small Business Handbook, Tax Planning, Tax Planning
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...
by Davie Mach | Jul 8, 2022 | Tax Planning
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...
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 | Feb 17, 2021 | Contractor Handbook, Tax Planning
Did you know that as a teacher or as someone working in education, you’re entitled to various industry-specific, teacher tax deductions? These teacher tax deductions can have a significant benefit on your annual tax return, so it’s worth equipping yourself with the...
by Davie Mach | Dec 22, 2020 | Contractor Handbook, Tax Planning
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...
