by Peter Ristevski | Jun 6, 2024 | EOFY, Tax & Accounting, Tax Deductions, Tax Planning, Tax Tips
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. OPPORTUNITIES Bonus Deductions Small businesses can take advantage of several bonus deductions in 2023-24,...
by Peter Ristevski | May 27, 2024 | ATO, Investment Property, Property Tax, Tax & Accounting, Tax Deductions
As part of its ongoing efforts to ensure compliance and fairness within the tax system, the Australian Taxation Office (ATO) has announced its 2024 targets for rental property owners. This initiative aims to address common issues related to rental income reporting and...
by Peter Ristevski | May 27, 2024 | ATO, Peter Ristevski, Tax & Accounting, Tax Deductions, Tax Planning
As the end of the financial year approaches, Australians are looking for effective strategies to cut their tax bills. With the deadline looming on June 30th, it’s essential to act swiftly and strategically. Here are some last-minute tips to help you save on your tax...
by Investment Plus Accounting Group | May 14, 2024 | Federal Budget 2024 -2025, Tax & Accounting
In the 2024-2025 Federal Budget, Treasurer Jim Chalmers has emphasised addressing the cost-of-living crisis as the government’s top priority. With inflation persisting and the economy slowing, it’s no surprise that this issue took center stage in the...
by Peter Ristevski | May 9, 2024 | ATO, Peter Ristevski, Tax & Accounting, Tax Planning
Last year saw a significant number of tax returns riddled with errors, prompting the Australian Taxation Office (ATO) to intensify its scrutiny on three primary fronts. Come tax season, the ATO will prioritise examinations of work-related tax deductions and rental...
by Peter Ristevski | May 9, 2024 | Peter Ristevski, Small Business Tips, Tax & Accounting, Tax Planning
Effective tax planning goes beyond mere compliance; it serves as a strategic advantage for small business owners. Exploring tax planning involves uncovering essential strategies that can greatly influence your business’s financial well-being. Tactics such as...
