Tax Implications of Christmas Parties and Presents
When planning your ‘Christmas Party’ be sure you understand the tax situation for you and your staff concerning ‘staff entertaining’.
Tax Deductions for Sales Reps
Sales representatives deal with selling of goods to the customer. Their main aim is to maintain a smooth flow of sales processes for which they gather as much detail from the customer as possible, analysing the demand-supply mechanism of the consumer. On an average, sales representatives make an estimated amount of $20-40 hourly, which means […]
Tax Deductions for Uber Drivers
Tax deduction is an important term used to refer to the amount of money that is reduced from the annual income of a taxpayer. There are certain conditions that must be met to ensure this process is carried out smoothly and that the required goal is achieved. Nowadays, with the ever-growing popularity of Uber as […]
Can I lodge my tax return without my group certificate?
For most people, lodging taxes is a pretty simple process. They just pass their payment summary to their accountant and their return is taken care of automatically. But what if you don’t have a payment summary? Suddenly things become a lot more difficult. Don’t worry, while lodging a return without a payment summary is more […]
Tax Deductions for Teachers
Teachers play a vital role in shaping our society. Since their prime focus is on children, which are our future. They not only provide children with the academic knowledge but also give them a handful of life-learnt experiences too, which helps them excel in their life endeavours. Just like any other profession, it is observed […]
How to add multiple income streams
Long gone are the days when just one source of income was enough to fulfil the needs and requirements of an individual. Nowadays with a massive increase in the prices of commodities, it has become an absolute necessity to opt for multiple sources of income. Multiple streams of income refer to the concept of earning […]
Have A Student Loan and About to Head Overseas?
There are new repayment obligations for people with a HELP or TSL debt who are living and working overseas. These overseas repayment arrangements apply to the following study loan schemes: HECS-HELP, FEE-HELP, OS-HELP and SA-HELP. They also apply to VET FEE-HELP, VET Student Loans for vocational education and training and Trade Support Loans (TSL) for […]
Should I register my business for GST?
The goods and services tax, known as GST, is a broad-based tax charging 10% on goods and services sold in Australia. This tax affects businesses regarding their revenue. As a businessman, it is your responsibility to get your business registered for GST in three situations. Your business’ income is $75,000 or more. It is advised by […]
2017 Federal Budget- Breaking it down
So another Federal Budget was handed down last night, and on the big scale of things, has left many things untouched. The good news? Business can continue as normal without having to get their head around yet more changes. So let’s review the changes: Company tax rate As promised last year, the government is committed […]
What can I claim for work travel expenses?
So you’re travelling around for work and want to know what you can and can’t claim with your travel? In order to claim travel expenses as a tax deduction, you need to ensure that the correct substantiation is maintained. The type and length of the business / work-related travel will affect the documentation you require […]
