ATO Urges Timely Debts Settlement
The Australian Taxation Office (ATO) has issued a reminder to businesses regarding their tax debts and superannuation obligations.
+ 61 2 9267 4468
The Australian Taxation Office (ATO) has issued a reminder to businesses regarding their tax debts and superannuation obligations.
As per the Australian Taxation Office data, approximately 6 million individuals are yet to submit their tax returns for the latest financial year. The deadline for filing your own tax return with the Australian Taxation Office is October 31. If you miss this deadline, you might face a late lodgement penalty of $313, and this…
Read more
Cash flow can be a major hurdle for small businesses. With limited resources and many aspects to manage, facing a cash crunch is easy. However, there are effective steps you can take to ensure your business has enough money to function and grow Watch Your Cash Flow Closely Managing your cash flow is vital for…
Read more
As a real estate industry employee, it’s crucial to accurately report your income and allowable deductions on your tax return. Here’s a breakdown of what you should and shouldn’t include: Income Include all income received during the income year, encompassing: Note: Exclude reimbursements from your income. Your income statement or payment summary will detail your…
Read more
On September 19, 2023, Daniel Mookhey, the Treasurer of New South Wales, unveiled the first state budget under the Labor party’s governance since 2010
The occupation and industry guides serve as valuable aids when completing your tax return. Utilize these guides to: To qualify for deductions on work-related expenses, you need to adhere to the 3 fundamental rules: What to Include and Exclude It’s essential to report all income received as a doctor, specialist, or medical professional within the…
Read more
Investors must consider a range of tax laws dealing with income, assets and deductions. Investment returns can be on revenue or capital account. Similarly investment expenditure could also be on revenue or capital account. The distinction between revenue and capital is not aways clear and characterisation of a receipt will ultimately depend on the circumstances…
Read more
Listen to our Principal, Teddy Kosasih FCPA CA, explaining what you can claim on interest on rental property loan this year. For more information please contact our team on 02 9267 4468 or [email protected]. Please visit our website on www.maxgrowth.com.au for an up to date information.
Listen to our Principal, Teddy Kosasih FCPA CA, explaining why your tax refund is lower this year.
Certain concessional contributions of a taxpayer whose income is in excess of the Division 293 threshold for the year (see table below) are taxed at 30%. This rate of tax includes the normal contributions tax of 15% paid by the receiving fund on concessional contributions plus an additional tax of 15% known as Division 293…
Read more