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Are you thinking of selling your holiday home abroad or cashing in on your overseas investment property? It pays to pause before putting up a “For Sale” sign. Selling a foreign property can trigger Capital Gains Tax (CGT) in Australia. This tax can take a surprising chunk out of your property’s sale profit. But with…
Looking for payroll software that doesn’t just work but works for you? As an accountant, your time is precious, your payroll processes need precision, and your clients expect perfect results. The right payroll software can deliver such results efficiently and seamlessly! But with so many options on the market, which one is the best fit…
Are you tired of watching your business’s hard-earned profits get swallowed up by taxes? There’s a strategic way to keep more money in your pocket and less in the Australian Taxation Office’s. Asset write-offs aren’t just a perk; they’re a game changer for significantly reducing a business’s tax burden. Is your business eligible for asset…
You’ve just sold your rental property, which you’ve carefully maintained and maybe even renovated over the years. The sale price is excitingly high, and you can almost taste the freedom and possibilities this windfall brings. But then, a question looms- how much of this sale price is actually yours to keep? Enter capital gains tax…
Have you just invested in new equipment for your business, perhaps an espresso machine for your café or an excavator for your construction company? While necessary to help your business thrive, these investments are significant. What if you could claim an immediate deduction for them and keep more cash in your pocket? Welcome to the…
Imagine pouring your savings into your dream home, only to discover you don’t have the right to make the changes you want. Or worse, facing an unexpected legal battle over something as minor as a shared fence. Understanding property interests is your first line of defence against these nightmares. When it comes to property in…
As a property investor in Australia, you’ve worked hard to build your property portfolio, and now it’s time to cash in! But before you sell, make sure you’re not leaving yourself open to a hefty investment property tax bill. Understanding tax when selling an investment property and the implications can be a minefield. With the…
We all know the old saying, “You’ve got to spend money to make money”. Small business owners know it particularly well! You invest a large amount of financial capital into your business to generate profit, like purchasing equipment, hiring employees, and marketing your products or services. These expenses and more can be claimed as tax…
Unfortunately, we’ve all been feeling the pinch of the rising cost of living in Australia. We could use some good news in this regard, right? Well, here it is! The Australian Taxation Office (ATO) has updated the tax rates and brackets for the 2024-2025 financial year. With these adjustments, many Australians will see a reduction…
Whether you’re an Aussie business owner or an employee, you’re not likely to forget the end of financial year (EOFY) date! It can bring a flurry of paperwork, stress over meeting tax deadlines, and the challenge of getting all your financial records up to scratch. That’s a lot of pressure, making sure everything is perfectly…