Article category: Tax
Family Trusts in Australia: Setup, Benefits & Tax Advantages
Every business, regardless of its size or scale, faces the risk of financial difficulties, which can disrupt operations. In such situations, the likelihood of asset seizure is also high. By registering a trust in Australia, you can establish a streamlined financial structure that can help protect assets and allow flexible more tax effective income distribution.…
Taxes on Selling a House in Australia: Capital Gains Tax Explained
Looking for buyers to sell your property or house in Australia? Before finalising the buyer, let’s assess your understanding of Capital Gains Tax (CGT) existing in Australia. Not sure about the answers to the questions? Without a clear understanding about the CGT in Australia, taxations could be challenging, leading to loss of funds without any…How your Social Media Post Could Trigger a Tax Audit in Australia
Having an updated social media profile with your personal and career updates has got a lot more to do beyond the likes and shares you receive. Confused? What if we told you a single social media post about your recent purchases, vacation, or monetary achievement can trigger a tax audit and inspection by the Australian…
The Benefits of Fixed-Price Bookkeeping and Tax Services for Australian Small Businesses
Why Choose Fixed-Price Bookkeeping and Tax Services? Managing finances effectively is crucial for small business owners, yet unpredictable costs can create unnecessary stress. This is where capped-price bookkeeping and tax services make a difference. What Are the Advantages of Predictable Costs and Comprehensive Financial Management for Small Business Owners? Conclusion These advantages provide small business…What Is the Tax-Free Threshold in Australia and How to Claim It?
The tax-free threshold is a key feature of Australia’s tax system that allows individuals to earn a certain amount of income before they are required to pay income tax. Understanding how this threshold works and how to claim it can help you make the most of your tax situation. What Is the Tax-Free Threshold in…
When Do I Need to Lodge a Tax Return in Australia?
When do you need to lodge a tax return? If you are an Australian resident for tax purposes, you are required to lodge a tax return with the Australian Taxation Office (ATO) every financial year. This is true whether you have earned income from your job, investments or rental properties, or even if you have…
