Dabbling in Cryptocurrency (Crypto) investments…? If you’ve sold, traded or earned cryptocurrency in the last financial year, you’ll need to declare this to the ATO in your annual tax return as you would with any other investment. Though the tax can vay depending on the type of crypto transaction and your circumstances. Your tax responsibilities […]
This 2022 tax time, the ATO has announced that one of it’s four key areas of focus is ‘income and tax deductions from rental properties’. In particular the ATO is concerned about the omission of rental income and deliberate over claiming of rental deductions. The ATO is urging rental property owners to review their records […]
Accessing a suitable aged care facility can be a confusing process, at what is often a difficult time for the in-going resident and family members. The decisions that need to be made at this time may seem overwhelming, but having choices available is a positive. Quality of care, fee structure and finding a suitable facility […]
When we think of the things we have of value, our largest assets often come to mind. But when we start to list down all the the assets we have it’s often the long list of medium sized assets that end up consuming the volume of line items. An asset register is a detailed list […]
It’s a proud moment when your children get their first job. Getting their first job is their foray into changing their focus from being the ‘serviced’ to being ‘of service’. Whilst the excitement of where they spend their first paycheck is exciting for them. It’s worth ensuring that we help them get set-up as employees. […]
Haven’t seen your PAYG/BAS paper forms for sometime or can’t remember the last time you received one…? If you can’t remember the last time you received an ATO instalment notice for your PAYG and or BAS it might be prudent to check in with your accountant. The ATO can sometimes change their method of communications […]
As we turned the corner with the beginnings of a new financial year, we’re deep in tax time and it’s important to understand what can and can’t be deducted. With an incentive to reduce taxable income to increase a potential tax refund, sometimes we can sometimes be too optimistic with what classifies as a work-related […]
From 1 July 2022, there are two main changes to the Superannuation Guarantee (SG). The changes include: Superannuation guarantee increase from 10% to 10.5%. There is no longer a minimum income threshold – employees are now paid superannuation for all hours worked (subject to an eligibility criteria, additionally workers under 18 years of age are […]
