Free Financial Health Check

Weirdest Tax Deductions for 2018-19

Taking a look at the ATO's list of most unusual claims - including a years worth of children's Lego!


Personal income tax changes: You're NOT automatically entitled to $1,080

The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return.


What expenses can you claim if you work from home?

A lot of people do some sort of work from home. It might be simply answering emails on the couch or working from home a few days a week. So, what can you claim if you’re putting in extra hours?


Why the Government is banning business cash payments of $10,000 or more

From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000.


Why you MUST make good record-keeping a habit!

Record keeping is a crucial part of any business. In addition to meeting your tax and superannuation obligations, having good records will give you a more accurate picture of your business to help you understand how you are doing, so you can spot potential problems sooner rather than later.


Why it's so important to check your myGov inbox regularly

Once you register for a myGov Account and link it to the ATO, you will receive important notices to your myGov Inbox. If you don't check it regularly, you could end up with late payments and demands! 


Laundry Expenses on ATO Hitlist

The ATO has warned they are closely reviewing claims for work-related clothing and laundry expenses. 


Super, insurance and exit fees: changes from 1 July 2019

From 1 July 2019, new laws prevent superannuation funds from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances will be moved to the ATO to try and unite the unclaimed super with its owner.


How to successfully integrate the new Single Touch Payroll system into your business

The STP system is now mandatory for (basically) all businesses with employees! Avoid headaches and make sure you have everything running like a well-oiled machine! 


Who has your personal data, and are they keeping it safe?

Regardless of whether you're engaging an accountant or bookkeeper or a hair stylist - if a business needs to store your personal information (email address and phone number included), make sure they are doing everything they can to protect your information!


Victorian State Tax Changes

What you need to know about the impending changes to land tax, payroll tax and land valuation in Victoria. 


Year End Tax Strategies for Individuals and Business Owners

We've put together a tax planning guide for both individuals and business owners. It includes updates on tax rates, general year-end strategies, changes to superannuation, and areas of focus for the ATO.


Super fund members risk losing life insurance cover

From July 1 2019, certain super fund members' default life insurance will be cancelled if their superannuation accounts are inactive.


How to prepare for a visit from the ATO

The ATO is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy. The plan on visiting over 10,000 businesses in the 2020 Financial Year. It's a scary thought, especially if you don't know what to expect. 


The countdown to 30 June is on! What that means for you...

Our June newsletter covers all the checklists and updates you need in your life as EOFY closes in! 



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