We hear it all the time: “how much tax will I get back this year?” The truth is, estimating your tax refund can help you plan your finances and get an idea of what to expect at tax time. The Australian income tax system features progressive tax rates, starting at 0% for low-income earners and…
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…
Ready to start a business in Australia? Learn about the most common types of business structures and the advantages and disadvantages of each type.
If you’re an Australian who attended university, there’s a good chance you have a HECS-HELP debt. The Higher Education Loan Program (HELP) is a key component of Australia’s education loan program help, designed to assist students in managing their university tuition fees. This government loan scheme has helped countless students afford their tertiary education, but…
As an Australian employee, you’ve probably heard the term PAYG mentioned when discussing your pay and taxes. But what does it mean, and how does it affect you? In this article, we’ll break it down for you so you can understand your obligations and entitlements. What is PAYG? PAYG stands for “Pay As You Go”…
As a business owner in Australia, you’ve got a lot on your plate. From managing staff to keeping the books in order, it’s easy to feel overwhelmed. One important thing about running a business is understanding the weekly tax table and how it applies to you. The weekly tax table is influenced by income tax…
As a business owner or accounts professional in Australia, you need to know about the tax-free threshold and how it affects your employees’ pay. And it all starts with the latest information on tax declarations, income assessments, and potential tax liabilities. Out of all these details you need to keep up to date with, the…
Are you feeling uncertain when it comes to paying directors’ fees and being compliant with the ATO? You’re not alone. It’s a question we get asked often – should we pay directors, and if so, how should director fees be paid? Claiming a deduction lowers your overall tax liability, so you’ll want to be clued…
There are around 600,000 not-for-profits in Australia, which is around 10% of the workforce. But it’s no secret that the wages are nowhere near what you’d get if you worked for a big corporate company. However, the job is way more rewarding for most not-for-profit employees than just a paycheck. Beyond that, the Australian Tax…
Like all significant business decisions, deciding between a company vs a trust business structure requires a complete understanding of the advantages and disadvantages of each situation. Our guide is designed to delve into the pros and cons of both business structures, aiding you in identifying the most appropriate choice for your unique circumstances. Differences Between…
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