Why is my tax refund so small?

The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate income tax, with personal income tax including taxes on capital gains representing 40% of revenue compared…
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Business Owner Checking Business Status

Navigating The Complexities Of Small Business Accounting

Accurate financial records are important for a business’s success, but navigating the complexities of accounting can be challenging. That’s where a professional accountant steps in to streamline the process. This guide will provide you with insights into the intricacies of small business accounting. Decoding the Basics: The Importance of Small Business Accounting First, let’s understand the…
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The 120% technology and skills ‘boost’ deduction

The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise your deductions. Almost a year after the 2022-23 Federal Budget announcement, the 120% tax deduction for expenditure by small and medium businesses (SME) on technology, or skills and training for their…
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Accountant And A Businessman Discussing Business Charts

How Chartered Accountants Help Small Businesses

The Role of Chartered Accountants in Business Chartered Accountants (CAs) are financial experts who provide a range of services, from bookkeeping and tax planning to financial strategy and business advice. By partnering with a trusted CA, small businesses can feel confident their financial matters are in capable hands. The Importance of Having a Chartered Accountant…
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COMPANY MONEY: A guide for owners

COMPANY MONEY: A guide for owners

General
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right? There a myriad…
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How Does Tax Apply to Electric Cars?

How Does Tax Apply to Electric Cars?

Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. The FBT exemption for electric cars If your employer provides you with the use of a car that is classified as a zero or low emissions vehicle there is…
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