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,…

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The Ultimate Guide on Land Tax

ByDavie Mach

As an investor, there are several property taxes that you need to be aware of, one of them being a land tax.  While there may be some exemptions, paying land tax is an inevitable part of owning a property.  It can often be overwhelming trying to navigate land tax and how it’s assessed – especially…

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Essential Things You Need to Know About Payroll Tax

ByDavie Mach

Payroll tax is tax payable where a business’s wages exceed specific thresholds that are imposed by each state or territory.  According to the Bureau of Statistics, payroll tax represents about 30% of state tax revenue.  As a business owner, it’s essential that you’re equipped with all there is to know about your payroll tax obligations. …

5 Simple Ways to Reduce Taxable Income For Small Businesses
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5 Simple Ways to Reduce Taxable Income For Small Businesses

ByDavie Mach

Given that every cent counts in the current distressed market, as a small business owner, you’re going to want to figure out how to reduce taxable income for your business. According to a recent report by the Australian Tax Office (ATO), with over four million small businesses in Australia, they play a crucial role in…

sole trader
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The 6 Sole Trader Deductions You Can Claim

ByDavie Mach

Knowing about your sole trader tax deductions will undoubtedly boost your tax return each year. Many of the costs that you incur from running your sole trader business can be claimed as a tax deduction.  Yet, many sole traders miss out on expense claims because they aren’t equipped with all the knowledge presented by the…

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Main Residence Exemption 6 Year Rule: The Essential Guide

ByDavie Mach

If you’re new to the property investment sphere, being aware of the main residence exemption 6 year rule could save you thousands of dollars on the eventual sale of your investment property.  Yet, so many first-time investors remain uninformed of the benefits of the 6-year rule. For example, some investors rent out their property immediately…

small business cgt concessions
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The 4 Small Business CGT Concessions Your Business Needs Now

ByDavie Mach

The Australian Tax Office (ATO) offers significant benefits and small business CGT concessions in an attempt to recognise that they are in a unique position in comparison to larger companies.  But understanding them can be a bit tricky without the help of a qualified tax agent or a savvy business partner.  For small business owners…

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Home Office Expenses: The Essential Guide

ByDavie Mach

Knowing about the tax deductions for your home office expenses will certainly boost your small business tax return.  However, many small business owners miss out on these expense claims because they aren’t equipped with the knowledge presented by the Australian Tax Office (ATO). Home-based businesses are a large part of the Australian business community, with…

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The Essential Guide to Apply for an R&D Tax Incentive

ByDavie Mach

In an effort to drive innovation, the Australian Government offers an R&D tax incentive to companies who invest in research and development (R&D).  However, according to a recent submission by CPA Australia, only 11,935 companies out of 1 million corporate taxpayers, claimed R&D tax offsets in the 2016 – 17 financial year. Based on their…

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The Ultimate Guide on Fringe Benefits Tax

ByDavie Mach

As a business owner, you could be liable for fringe benefits tax by providing benefits to your employees, or even to yourself. While this is one of the best ways to reward and acknowledge their contributions to your business, if you’re going to provide fringe benefits to your staff or yourself, there’s some vital information…

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