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News, Tips and Advice

We publish regular updates and tips on Tax and Accounting in this section. These articles are prepared by industry experts with a goal to provide best advise, that can help and guide our client to some extent. Don’t forget to subscribe.

REPORTING YOUR FOREIGN EMPLOYMENT INCOME

REPORTING YOUR FOREIGN EMPLOYMENT INCOME

As an Australian resident working overseas you must report all your foreign employment income in your Australian tax return. This include salary, wages, commissions, bonuses and allowances, paid by an overseas or an Australian employer. You must report both assessable...

7 TOP TAX DEDUCTIONS FOR FITNESS INDUSTRY WORKERS

7 TOP TAX DEDUCTIONS FOR FITNESS INDUSTRY WORKERS

If you work in the fitness industry as a personal trainer, coach or are employed in a gym or sporting organisation, you may be able to claim the following deductible expenses on your tax return. 1)Work Clothing If the uniform of the gym or business you work for...

Beginners guide to GST

Beginners guide to GST

This guide will help you to understand what is GST, how it works and what are the implications for your business. What is GST? ‘Goods and Services Tax’ (GST) is a broad-based tax of %10 on most goods, services and other items sold or consumed in Australia. Do I need...

6 TOP TAX TIPS FOR UBER DRIVERS

6 TOP TAX TIPS FOR UBER DRIVERS

If you are an Uber driver pay attention to these tax tips, you can get benefits from deductions you might not know about and avoid any trouble with the ATO. 1. Reporting income in your tax return You need to report on your tax return the income you have earned driving...

WHAT IS THE TAX-FREE THRESHOLD?

WHAT IS THE TAX-FREE THRESHOLD?

This means that if you are an Australian resident for tax purposes, the first $18,200 of your yearly income isn’t taxed. This is what is called the tax-free threshold. You can claim the tax-free threshold to reduce the amount of tax that is withheld from your pay...

6 TOP DEDUCTIONS FOR HOSPITALITY WORKERS

6 TOP DEDUCTIONS FOR HOSPITALITY WORKERS

Whether you are a chef, waitress, bartender, venue manager, event manager, barista, mixologist, and so on, you have a large list of deductions you can claim just because you work in the hospitality industry. Check out what deductions you can claim. 1)Meal expenses  ...

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