FAQs on Age Pension
The Age Pension is a government-provided income support payment designed to assist older Australians who have reached the eligible age and met specific criteria.
FAQ on Student Loans
Student and Training Loans are government-provided financial assistance programs designed to help eligible students cover the costs of their higher education or vocational training.
FAQ on Business Travel Expenses
Learn how to maximise your tax deduction for business travel expenses while meeting all the ATO requirements.
End of Financial Year Tips
As year-end approaches, there is a small window for small businesses to get their finance in order, optimise their tax and plan for the next year. In this article, we take a closer look at five things you can do to get your finance and tax in top gear
Federal Budget 2023-24 Snapshot
• Surplus of $4.2 billion for current financial year
•. Deficit of $13.9 billion expected in 2023-24
•. From 1 July 2026, employers will be required to pay superannuation on payday, rather than quarterly
Federal Budget 2023 Breakdown
High commodity prices and a strong labour market have delivered stronger revenues and enabled the Federal Government to post the first budget surplus in 15 years while also funding key programs and cost-of-living relief.
Federal Treasurer Dr Jim Chalmers forecasts a surplus of $4.2 billion – or 0.2 per cent of GDP – in 2022-23, an improvement of $41.1 billion on last year’s October budget.
Tax Deductions for Business Food & Drink
Did you know that certain food and drink expenses can be considered business expenses and hence tax deductible?
Are you STP 2-ready?
Single-touch-payroll or STP is monthly online payroll submission directly from payroll software to replace annual manual payroll reporting. Phase 2 requires all businesses to start submitting payroll data by the 31st of March 2023.
Working from Home? Did you know there are new rules for claiming tax deductions?
For the 2022-23 financial year, the shortcut method will be discontinued. Only two methods are available to calculate these deductions: a revised fixed rate and the actual cost method.