Understanding how to withdraw super
Understanding how to withdraw super. What is superannuation?Superannuation, commonly referred to as 'super,' is a long-term investment designed to provide financial stability during your retirement years. It functions by pooling funds into a super account, which is...
Exploring Small Business Grants NSW
Exploring Small Business Grants NSW. A business grant is money given by the government to help small businesses. This financial help from the government aims to help small businesses expand, develop new ideas, or get back on their feet after tough times. This kind of...
Navigating the Shift from Temporary Full Expensing to Instant Asset Write-Off for the 2024 Financial Year
Navigating the Shift from Temporary Full Expensing to Instant Asset Write-Off for the 2024 Financial Year. The impending expiration of the Temporary Full Expensing (TFE) at the close of the 2023 financial year means that businesses will revert to the Instant Asset...
Understanding Capital Gains Tax on Inherited Property in Australia
Understanding Capital Gains Tax on Inherited Property in Australia. If you are an individual beneficiary or a Legal Personal Representative (LPR) who has inherited Australian residential property from a deceased estate, you may be eligible for comprehensive or partial...
Guide to Claiming Fuel Tax Credit for Your Business
Guide to Claiming Fuel Tax Credit for Your Business. Claiming Fuel Tax Credits is an opportunity for businesses who have bought fuel, such as petrol, diesel, or other eligible fuels, for business activities. The tax credit, determined in cents per litre, can be...
Why You Need an SMSF Accountant for Effective Fund Management
Why You Need an SMSF Accountant for Effective Fund Management. Managing a Self Managed Super Fund (SMSF) offers unparalleled control over your investments, but it comes with complex compliance and taxation obligations. With stringent requirements set by the Australian...
Important Deadline for Director ID
Important Deadline for Director ID. A Director Identification Number (DIN), also known as a Director ID, serves as a unique identifier for individuals serving in director roles within various types of organizations. This identification number is a legal requirement...
What is a Notice of Assessment?
What is a Notice of Assessment?. What is an Income Tax Return?The Australian Taxation Office requires all persons, both residents and non-residents, to file their income tax returns. The tax return summarises your income and claimable expenses during the financial...
Making Sense of the Tax Free Threshold: Clarity for Taxpayers
Making Sense of the Tax Free Threshold: Clarity for Taxpayers. The tax-free threshold is the amount of income you can earn each year without paying income tax. For most Australian residents, this threshold is set at $18,200. This means that if your total income for...