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News & Articles on Finance & Business, Accounting, Taxation, SMSF & more

Income Tax Return

A Step-by-step Guide To Lodging An Individual Tax Return

Every year, thousands of tax returns must be filed by resident and non-resident Australians. Australian tax law dictates that residents earning over AUD 18,200 per year – the tax-free threshold – must file a return, while non-residents earning AUD 1 or more must file an individual tax return. Australia’s tax year is a 12-month period that runs from 1 July to the 30 June the following year; if you are required to fill in a tax return according to the

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It’s Tax Time – How To Be Wary Of Tax Scammers!

This might be the time of the year when we are busily getting our crumpled receipts together and trying to make sense of our accounting ledgers, hoping to get a decent refund. But it’s also the time of year scammers are on track to take advantage of you. Here’s what you need to know, so you don’t become a victim of tax fraud. Investment scammers conned Australians out of over $500 million last year, and their busiest season is about

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tax deduction items

10 Less Common Tax Deductions You Didn’t Know You Could Claim

We’ve all put 2020 behind us, and it’s time for a positive fresh start with organisation and getting ahead in the New Year 2021. While taxes are not something we like to think about this time of year, it’s the perfect time to start getting organised about what you need for tax time and what deductions you can be eligible for. Here are some more of the unusual tax deductions you may not even be aware you can claim. Table

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tax deduction christmas party

What can I claim as tax-deductible for Christmas parties?

If you have a business, it’s that time of year where you’re starting to think about Christmas parties and office celebrations. It’s also time as a business owner to say thank you to your employees for another year of hard work. But it’s also worth knowing what you can claim and what you can’t. The rules can be confusing, so here are some suggestions on how to make the most of your corporate budgets this year. There are two major

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tax return with tax accountant in brisbane

How will the new budget tax cuts affect me, and how do I claim?

It’s been a whirlwind year and recent month in terms of tax with the much-anticipated tax cuts confirmed as part of the 2020 Federal Budget. The tax cuts which were initially planned for 2022, have been brought forward to this financial year. While it’s all well and good to announce tax cuts, most people are still wondering how it will affect them personally and what they should do with investments and their money to make sound financial choices. There’s also

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calculating tax cuts in Australian recession

The latest tax cuts and how it will affect you in the recession

With the recent news that Australia has officially fallen into a recession after two decades of profitable growth and the new announcements of tax cuts, accounting advice is more important now than ever. Speaking with the ABC, Treasurer Josh Frydenberg has announced proposed personal tax cuts being brought forward in the vicinity of $158 billion for Australians. While the cuts were scheduled for mid-2022, they have been brought forward to ease the growing financial tension on Australians and help to

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