Article category: Tax

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…

Calculating your tax return in Australia can be a complex process, but it is essential to ensure that you are paying the right amount of tax and maximising your tax refund. In this article, we will guide you through the process of how to calculate your tax return step-by-step. 1. Gather Your Documents Before you…

Is your business planning to purchase new equipment or have some on order? The government's instant asset write-off program could be your ticket to significant savings! This program is ending soon, so it’s imperative to make timely, strategic decisions. In this blog post, our expert team at Accountants Direct will guide you on making the…

Meeting your tax return lodgment obligations on time is essential. The Australian Taxation Office (ATO) imposes Failure to Lodge (FTL) penalties for overdue tax submissions. However, extenuating circumstances and the right assistance can sometimes mitigate these penalties. Discover how FTL penalties are calculated and what to do if you receive one. Receiving an FTL Penalty…

In recent years, doing your taxes online has become increasingly popular. However, there are also some potential pitfalls to be aware of when lodging your taxes online. In this article, we’ll explore some of the most common pitfalls and how to avoid them. 1. Security Concerns One of the biggest concerns when it comes to…

Overdue tax returns can be a source of stress, but handling them doesn't have to be daunting. Whether you have a single late tax return or multiple overdue tax returns, understanding ATO rules and taking proactive steps can streamline the process. Here’s what you need to know about dealing with late tax returns in Australia.…