by Investment Plus Accounting Group | Nov 14, 2023 | ATO, Income Tax, Tax & Accounting
It’s quite common for people to structure their professional affairs by setting up an entity to run their business through. This could be a trust, a partnership or, most often, a company. Clearly, this could be a very effective way of sheltering profits for a small...
by Investment Plus Accounting Group | Jun 29, 2023 | ATO, EOFY, How To, Income Tax, Tax & Accounting, Tax Deductions, Tax Refunds
Its Tax Time again and as you prepare for lodging your return we want to ensure why you need to understand the importance of lodging your returns and fulfilling your tax obligations. Lodging an income tax return is an important financial responsibility for individuals...
by Investment Plus Accounting Group | Jun 8, 2023 | How To, Income Tax, Superannuation, Tax & Accounting, Tax Refunds
Did you know that you can make a concessional superannuation contribution and get $5000 or more as a tax refund this year? Super concessional contribution caps There is a limit on how much you can put into super each year from your pre-tax income. Such contributions...
by Investment Plus Accounting Group | May 29, 2023 | ATO, How To, Income Tax, Small Business, Tax & Accounting, Tax debts
If your ATO or SRO debt is consuming your life and finances, you need someone to help you efficiently and professionally; tax debt does not disappear if you ignore it. Our goal is to resolve your tax debt and make it as stress-free as possible, and we strive to...
by Investment Plus Accounting Group | May 29, 2023 | ATO, EOFY, How To, Income Tax, Tax & Accounting, Tax Deductions, Tax Refunds
Now’s the time to review what strategies you can use to minimise your tax before 30 June 2023. HOME OFFICE EXPENSES If you have been working from home, you may have expenses you can claim a tax deduction for. The ATO allows you to claim using a “Revised Fixed...
by Investment Plus Accounting Group | May 22, 2023 | ATO, EOFY, How To, Income Tax, Small Business, Tax & Accounting, Tax Deductions
If you are a sole trader, there are a number of small business tax concessions that you may be able to utilise. A small business entity is broadly a business with an aggregated turnover of less than $10 million. INCOME TAX CONCESSIONS Start-up costs You may be...