6 Benefits of Using a Tax Agent in Australia

6 Benefits of Using a Tax Agent in Australia

Tax agents are expert accountants that specialise in the complicated ways necessary for handling and lodging tax returns. They do all the work for you during tax time, saving you the time, energy and headache of filing your own tax returns. So, what to tax agents actually do and how can you benefit?

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5 Bookkeeping Tips for Small Businesses

5 Bookkeeping Tips for Small Businesses

Savvy non business owners make it a point to keep track of their daily finances. This minimizes costs and stress. Keeping up-to-date financial records helps when lodging a small business tax return. If you want to start taking charge of your business’ bookkeeping, here are a few tips from The Income Tax Professionals.

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Common Tax Return Mistakes You Should Avoid

Common Tax Return Mistakes You Should Avoid

It’s tax time once again, which means it’s time to bring out your calculators and start getting your affairs in order. While working with professional tax accountants can streamline and simplify the entire process, if you plan to lodge a personal tax return yourself it’s important to do it properly the first time to avoid any problems with the ATO. How can you make sure you’re getting things right?

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What Happens If I Don’t Lodge My Tax Return?

What Happens If I Don’t Lodge My Tax Return?

Many people might fail to lodge their tax return for numerous reasons. They worked overseas. Their health may have suffered. They were too busy. However, the ATO will always keep track. Even after years it will demand that you lodge your tax return, which may result in fines, penalties, interest, prosecution or even jail time. Do you need to lodge a tax return?

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5 Smart Tips for Small Business Tax Time Claims

5 Smart Tips for Small Business Tax Time Claims

Come tax time, many small businesses are not taking advantage of the many eligible claims you can make. The EOFY is a key time to make sure your books are in order, invest in your own business and take a snapshot of where your business currently stands to maximise your tax return.

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Tax Deductions for Self Employed: Know What You Can Claim at Tax Time

Tax Deductions for Self Employed: Know What You Can Claim at Tax Time

Running your own business is tough enough without the added pressure of organising your financial records come tax time. There are ways to make it easier and streamline the process. Knowledge is power. If you know what you can and can’t claim, you’ll not only be well and truly organised, you’ll be able to maximise your tax return. After all, it’s about paying less tax than you have to.

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Payroll Tax Cut for NSW Businesses

Payroll Tax Cut for NSW Businesses

It’s good news. The NSW government has recently cut taxes for small to medium-sized business by adjusting the threshold on payroll tax. Nearly 40,000 small businesses in NSW are now up to $8,175 better off per year following a second cut to payroll tax in 12 months.

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