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Posts Tagged ‘tax returns’
How Investment Property Gives You Tax Back
June 4th, 2024Sometimes, the path to financial independence can feel like a never-ending cycle of earning, saving, and spending, with tax time thrown in for good measure to add a few more hurdles. So how do you get out of the rut and realise the financial and lifestyle aspirations you have for yourself and your family? Investmentread more
McKinley Plowman’s 2024 Tax Time Tips
May 22nd, 202430 June 2024 is fast approaching, and with it – tax time. While this isn’t a time of year many people get excited about, the potential for a tax refund may be something to look forward to. Also given the Stage 3 Tax Cuts are being brought into effect from 1 July, tax time mightread more
Equipment Finance – EOFY Deductions Await!
May 9th, 2024As the end of the financial year (EOFY) approaches, Australian business owners are presented with a strategic opportunity to enhance their operations and optimise their tax position through equipment finance. Financing new equipment or vehicles is not only a pathway to modernising and increasing the efficiency of your business but can also provide significant taxread more
Super Contribution Caps Set to Increase on 1 July 2024
April 17th, 2024As the end of the financial year approaches, Australians will soon have an opportunity to significantly boost their retirement savings thanks to the upcoming increase in super contribution caps, effective from 1 July. While there are a number of different routes through which you can add value and funds to your retirement, additional super contributionsread more
Act Now: ATO Interest Charges Will Soon be Non-Deductible
March 13th, 2024Do you have ATO interest charges hanging over you? Hoping to claim them as a tax deduction when you pay them off? If so, read on, because a recent Government announcement aims to put a stop to interest charge deductibility. Previously, general interest charge (GIC) and shortfall interest charge (SIC) could be claimed as aread more
Understanding Stage 3 Tax Cuts
January 30th, 2024You’ve doubtless heard the term “Stage 3 Tax Cuts” in the headlines recently, but what’s it all about? The Australian Government is set to implement significant changes to the tax system with Stage 3 Tax Cuts, initially legislated a few years ago under the Morrison government. The federal cabinet has recently approved adjustments to thisread more
Does My Business Need to Pay Payroll Tax?
January 24th, 2024As a business owner in Australia, navigating the complex landscape of taxes and employer obligations can be challenging, and payroll tax is no different. Legislative changes in mid-2023 means it’s as important as ever to stay informed and compliant with payroll tax laws, and understanding it is key. This includes knowing if your business isread more
Tax Debt Firmly in the ATO’s Sights
September 19th, 2023If you have operated a business for the past few years, you are probably aware that the Australian Taxation Office (ATO) were a little more willing than normal to extend payment deadlines and work with businesses to ensure the prevailing economic conditions didn’t put them in dire financial straits. More recently, however, the ATO hasread more
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