How the Logbook Method Works for Vehicle Claims in Australia
Need to claim car expenses? Here’s how to use the vehicle logbook method, with ATO log book examples, formats, and tips to keep your deductions compliant.
Tax Accounting
How to Organise an ATO Payment Plan: 7 Steps for Tax Debt
An ATO payment plan is a financial assistance arrangement allowing repayment of any existing debt with the ATO over a period of time in instalments rather than upfront in one hit. A payment plan has a set amount that is to be paid weekly, fortnightly or monthly.
How And Why Should You Record Keep Properly?
Unless you’re a Type A organisational genius (if yes, we already have a crush on you…), then record keeping is a big old pain in the butt for business owners. It’s something our team spend a lot of time chasing up and we get it – we’re the first to dob Jase in for his poor […]
How Can I Make a Holiday a Tax Deduction?
Not sure about you… But it seems every person and their dog are either soaking up some QLD sun or sipping on an Aperol in Italy at the moment. We know a lot of you are wondering, can you claim flights on tax in Australia? Or put another way, can I claim flights on tax […]
How to Apply for a Director ID in Australia (Step by Step)
To establish a director ID, you will need to verify your identity and ensure that this information matches the records held by the ATO. 1. Verify your identity If you establish your director ID online, and you have not already set up myGovID, you will need to download the app onto your phone or device […]
Small Business Restructure Regime: Eligibility and Process
Sounds like a boring title but we promise you, this is worth a read if you find yourself in significant tax (or other creditors like suppliers) debt. Bringing you some news from the ATO/government/treasury/whoever else decides these things that may be the difference between liquidation and keeping your head above water. Huge, relieving changes for […]
Individual Tax Return Checklist: Documents and Deductions
If you’ve booked your individual tax return appointment, your next step is to complete this checklist. Come to your appointment organised and it’ll be a seamless process – with that return finding it’s way into your bank account ASAP! INCOME Please provide evidence that is relevant for you: DEDUCTIONS Please provide evidence that is relevant […]
Tax Time Checklist: Get Ready for Personal and Business Tax
Sound the alarm because TAX TIME is just around the corner, and while many may be slowly reclining into winter hibernation, we accountants are just firing up. One of the secrets to an easy breezy EOFY is being prepared so we’ve armed you with our comprehensive checklist of what you need to do before your […]
What Is Notional Tax? Pay As You Go Instalments Explained
Notional tax is how the ATO calculates your PAYG instalment amounts. Learn what it means, how it’s worked out, and what to do if it’s wrong.
How to Update Your Business Plan: What to Include and When
New year, new goals, new resolutions to forget by Feb 😉 We love the few weeks post-Christmas where everyone takes a breather and often, we’re lucky enough to ease back into work without the usual hustle that the rest of the year holds. It’s the perfect time to do some ‘what’s next’ thinking for your […]