Stay Up-to-Date on Accounting Regulations

How to Stay Up-to-Date on Accounting Regulations

In the dynamic world of finance and business, staying updated on accounting regulations is integral for financial success. With constantly shifting rules and guidelines, businesses should stay updated on accounting regulations to avoid hefty fines and maintain a positive reputation. This blog explains the importance of staying informed and how accountants play an important role…
self education

Self-education: What can you claim?

The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim. If you undertake study that is connected to your work you can normally claim your costs of that study as a tax deduction – assuming your employer has…
The Garis Group Wins Best Small Business Accounting Firm in Australia

The Garis Group Wins Best Small Business Accounting Firm in Australia

In some exciting news for Newcastle & the Hunter over the weekend, local accounting firm The Garis Group won best small business accounting firm in Australia at the nationally recognised Small Business Champion awards at the International Convention Centre in Darling Harbour, Sydney on Saturday night. The awards night was postponed several times throughout 2020…
100 dollar notes on washing line

Laundry Expenses Hung Out To Dry

  The ATO is airing the ‘dirty laundry’ on work-related clothing and laundry expenses warning that it is closely reviewing claims. “Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. While many of these claims will be legitimate, we don’t think that half…

Tax Office Hunts for Undeclared Income

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Assistant Commissioner, Kath Anderson, says the ATO is looking for income from second jobs and capital gains on cryptocurrency. Australians leaving cash payments and foreign income off their annual tax return face being caught through new data-matching technology deployed by the Tax Office. Part of efforts to recover an annual shortfall of up to $1.4…
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