Category: Tax

Preparing for 30 June – Super Reminder

With the end of the financial year fast approaching, we’d like to remind you about some potential opportunities for super contributions. There are a number of strategies that may be of benefit in the lead up to 30 June: Personal deductible contributions: those looking to reduce their taxable income can consider a contribution to super […]

2024 Federal Budget

On Tuesday night, the Federal Government handed down an updated 2024-2025 Australian Federal Budget. This budget focused on cost of living pressures, with a number of announcements across energy bills, student debt, medicines, Social Security & Aged Care, and Business taxation. Please note that these proposals are not yet legislated, and as always, the team […]

Important tax dates and obligations Q4 – FY 2024

Key tax & lodgement dates for the April to June quarter 2024 21 April Lodge and pay March 2023 monthly business activity statement 28 April Lodge and pay March 2024 activity statement if lodging by paper Pay March 2024 quarterly PAYG Instalment notice Make March 2024 quarterly superannuation contributions by this date 15 May Lodge […]

Important tax dates and obligations Q3 – FY 2024

Key tax & lodgement dates for the January to March quarter 2024 21 February Lodge and pay January 2024 monthly business activity statement. 28 February Lodge and pay SMSF tax return for fund newly established in the 2023 financial year. Lodge and pay December 2023 quarterly activity statements. 21 March Lodge and pay February 2024 […]

Important tax dates and obligations Q2 – FY 2023

Key tax & lodgement dates for the October to December quarter 2023 21 October July – September 2023 quarterly PAYG installment activity statement due for lodgement and payment. Only need to lodge if varying the amount. September 2023 monthly activity statements – final date for lodgement and payment. 28 October July – September 2023 quarterly […]

Important tax dates and obligations Q1 – FY 2023

Key tax & lodgement dates for the July to September quarter 2023 14 July Single Touch Payroll (STP) finalisation due Payers must issue PAYG withholding payment summaries to payees (that is, employees and other workers) for payments not reported through STP 21 July June 2023 quarterly PAYG instalment activity statement due for lodgment and payment. […]

Tax tips for self-managed superannuation funds 2023

Having a self-managed superannuation fund (SMSF) gives you control and flexibility over how you make investments and prepare for retirement. It’s important to get your deductions and record keeping correct for the SMSF audit process and the tax return, as there are strict laws governing SMSFs. An SMSF must be set up as a trust […]

Tax Tips for small business 2023

Common Tax Deductions for Small Business Are you claiming all the business tax deductions that you are entitled to? There are many expenses common to most small business, and there are other expenses that are specific to the nature of each industry and the goods or services that your business provides. Operating expenses include accounting, […]

Tax Tips for Property Investors 2023

If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2023 financial year. Income to Declare All income earned from each property must be declared. If you have multiple properties, keep the records for each property separate to make the tax return more […]

Temporary full expensing is due to end soon – your tax deduction guide 2023

With the temporary full expensing (TFE) incentive due to end on 30 June 2023, the federal government has announced the reintroduction of the small business instant asset write-off. Businesses with an aggregated turnover of less than $5 billion The TFE rules provide for a full deduction to businesses for the cost of eligible depreciating assets […]

Tax Tips for Individuals 2023

Although your tax return is not due for a few months yet, the end of the financial year is near. Get ahead now by preparing all the documents required for your 2023 tax return so you can get your tax done quickly and get any refund due to you in your bank! Income The Australian […]

2023 Federal Budget

As expected, Labor’s second Budget was filled with measures aimed at easing the cost of living over the coming years, addressing the challenges of a slowing economy, and bolstering the healthcare system. There were a number of changes to superannuation, taxation, social security, aged care, housing and other measures that may be of interest to […]

Important tax dates and obligations Q4 – FY 2023

Key tax & lodgement dates for the April to July quarter 2023 21 April Lodge and pay March 2023 monthly business activity statement. 28 April Pay quarter 3, 2022–23 instalment notice 15 May Lodge 2022 tax returns for all entities that did not have to lodge earlier 21 May Lodge and pay April monthly business […]

Important tax dates and obligations Q3 – FY 2023

Key tax & lodgement dates for the January to March quarter 2023 15 Jan Lodge tax return for taxable large and medium entities as per the latest year lodged. 21 Jan Lodge and pay December 2022 monthly business activity statement. 21 Feb Lodge and pay January 2023 monthly business activity statement. 28 Feb Lodge tax […]

2022 October Federal Budget

Last night, the government handed down the October Federal Budget for 2022-23. The announcements focused on easing the cost of living over the coming years, addressing the challenges of a slowing economy, and introducing investments designed to place Australia in a stronger position for the future. There were very few changes to superannuation & taxation, […]

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