Blog

Do I Need To Lodge A Tax Return?

7 July 2023

If you earn income in Australia, or from overseas, you will generally be required to lodge a tax return. It is important to include income from overseas as you may be entitled to a tax offset for the tax you paid in another country. Australia

Working on My VISA

30 June 2023

Travellers coming to Australia for travel, work, study, or migration need a visa appropriate for their reason for travel. Visas include different conditions on a person's stay in Australia including working and engagement with the tax and superannuation systems. The Australian Taxation Office (ATO) data

Why is it Crazy to Operate a Business as a Sole Trader?

26 May 2023

It is an exciting endeavor to start a business, but also a risky one. Business owners face many challenges and risks, and starting a business as a sole trader is more challenging. Running a business as a sole trader may seem like a practical way

Company Incorporation: What It Is & How It Works

19 May 2023

What is Company Incorporation? One of the biggest decisions to make when starting a new business is what structure that business will take. Your choice of structure depends on the size and type of business and how you want to run it. The four

Australia’s Federal Budget 2023-24

12 May 2023

Source: www.charteredaccountantsanz.com The Federal Budget that was announced on May 9th brings some noteworthy changes. After 15 years in the red, Australia is projected to have a surplus of $4.2 billion for the current financial year. However, this surplus will be temporary, as a deficit

What is the Tax-Free Threshold and when to claim it?

5 May 2023

The Australian workforce are constantly tasked with the completion of a Tax File Number declaration at the beginning of their employment. At the completion of the form, most individuals are left pondering what is the tax-free threshold? Or do I want to claim the tax-free

Resident For Tax Or Not

28 April 2023

Most people who come to Australia for a working holiday or visit are not Australian residents for tax purposes. This includes people on subclass 417 or 462 visas (working holiday makers or backpackers). This is because most working holiday makers (WHMs), consistent with their visa

Individual Tax Return: Everything you need to know

18 April 2023

Shock as the end of the financial year has crept up again, for most, the lodgement of their individual tax return can be a yearly hassle. Here’s what you need to know to ease your concerns regarding what is an individual tax return and when

No more Low and Middle-Income Tax Offset (LMITO) to lower tax bills or increase tax refunds.

14 April 2023

Attention low and middle-income earners with taxable income below $126,000: The Low and Middle-Income Tax Offset (LMITO) has ended as of 30 June 2022, which will affect your tax returns for the 2022-23 financial year. This means that without the offset, your tax bill will

Flood grants to help affected Primary Producers in Victoria

4 April 2023

Two available grants: the Victorian Primary Producer Flood Recovery Grant and the Victorian Rural Landholder Grant The recent floods in Victoria have caused significant damage to many primary producers in the region, leading to substantial financial losses. To help in the recovery of these affected

30% Super Tax on Balances Exceeding $3 Million from 2025

22 March 2023

As of 1st July 2025, earnings from super balances exceeding $3 million will increase to 30%. The Australian government has announced a reasonable compromise to tackle the cost of tax concessions on large superannuation balances. Treasurer Jim Chalmers revealed that starting from July 1, 2025,

What Small Businesses Need to Know About WorkCover in Australia

5 January 2023

WorkCover is a system of insurance and workers’ compensation that helps protect Australian workers from injuries, illnesses, or death caused by their work. For small businesses, understanding how WorkCover works and who it covers can seem like a daunting task. In this blog post, we