Owning an investment property in Australia can be a smart way to build wealth — and maximising your tax deductions is key to getting the most out of your investment. Many landlords miss out on valuable deductions simply because they’re unaware of what they can claim. Here’s a breakdown of the top tax deductions available to Australian investment property owners.…
Sustainability is no longer just a buzzword — it’s a business imperative. As Australian companies face increasing pressure from consumers, regulators, and investors to reduce their environmental impact, many are looking for practical ways to operate more sustainably. What’s often overlooked is the vital role accountants play in helping businesses go green. 1. Measuring Environmental Impact One of the…
Living and working overseas can be an exciting chapter in life — but for Australian expats, it can also bring tax complications. The Australian Taxation Office (ATO) has clear rules about tax residency and overseas income, and failing to understand them could lead to unexpected tax bills or penalties. Here’s a look at some of the most common tax…
Running a small business in Australia comes with many responsibilities — and one of the most important, yet often overlooked, is regular bookkeeping. Accurate and up-to-date financial records are not just about ticking boxes for the ATO; they are essential for understanding your business’s financial health and supporting sustainable growth. Stay on Top of Your Finances Regular bookkeeping gives you…
As the 2024–25 financial year draws to a close, now is the time for small business owners to take proactive steps to manage their tax position. At Accounting Tax Solutions, we’re here to help you make smart, strategic decisions that not only minimise tax but support long-term financial health. Here are five key tips to keep in mind before 30…
Charitable donations don’t just support meaningful causes — they can also help reduce your tax bill. For Australian taxpayers, donating to a registered Deductible Gift Recipient (DGR) is a smart way to give back while benefiting financially at tax time. What qualifies? To claim a tax deduction, your donation must be made to a DGR — an organisation approved by…
Generally speaking, it’s not exactly an unusual practice to hire freelancers and contractors when running a business if you’re looking for flexibility and specialised skills in particular. Having said that, there are still a few tax implications that are different from simply hiring employees, so it’s paramount that you’ve got an idea of what these are if you plan on…
Generally speaking, it’s a fairly significant step for any entrepreneur when the prospect of incorporating a business is becoming more and more realistic. The main benefits are obviously the ones that come with having a formal and legally recognised company structure, but like pretty much any business decision, there’s a set of pros and cons that we’re going to need…
You might have it in your head that accountants are just number crunchers who help you be a bit more financially accurate, but nowadays, accountants take on a much more holistic role as strategic advisors who provide all the insights and guidance your business needs to succeed, regardless of your size – this means you’ll not only stay compliant with…
Making a significant amount of dollars each year and knowing how to use it effectively to avoid paying so much in tax are two very different things – take advantage of our expert tax planning tips to save more money come the end of the financial year. Make Additional Contributions to Your Superannuation Fund Being able to grow your…