by Investment Plus Accounting Group | May 22, 2023 | ATO, EOFY, How To, Income Tax, Small Business, Tax & Accounting, Tax Deductions
With the end of the tax year approaching, it’s time to take action to minimise the tax liability for your retail business. Here are the top tips for end of year tax planning. Take advantage of temporary full expensing One of the best tax breaks for business is...
by Investment Plus Accounting Group | May 22, 2023 | ATO, EOFY, How To, Income Tax, Tax & Accounting
Claim as many eligible work-related expenses as you can Many expenses that you incur in order to do your job can be claimed in your tax return. However, many cannot, and incorrectly claiming these may result in a penalty from the ATO. Some are more obvious than...
by Investment Plus Accounting Group | Apr 28, 2023 | Airbnb, ATO, How To, Income Tax, Tax & Accounting
Airbnb rentals are becoming a popular choice for many property owners. By matching property owners with potential guests, it’s an alternative accommodation renaissance. As a landlord, you set the price and conditions while guests get a personal touch and...
by Investment Plus Accounting Group | Apr 17, 2023 | ATO, Business, How To, Superannuation, Tax & Accounting
The ATO has recently reported there is now $16 billion in lost and unclaimed super across Australia, and is urging Australians to check their MyGov account to see if some of the money is theirs. Super becomes “lost super” when it’s still held by the fund but the...
by Investment Plus Accounting Group | Apr 17, 2023 | ATO, Cyber Security, How To, Online Fraud, Tax & Accounting, Tax Scams
Tax season can be stressful for many people – and this stress can make you more vulnerable to scammers, who strike at the end of the tax year, hoping to gain an advantage at your expense. In the lead up to tax planning season, we take a look at at some of these scams....
by Investment Plus Accounting Group | Mar 24, 2023 | ATO, Holiday Homes, Property Tax, Tax & Accounting
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise...
