Running your own trade business means freedom, but dealing with the ATO compliance can become overwhelming. Even the most skilled trades—whether electricians, plumbers, or carpenters—can fall into costly tax traps if they’re not careful with their careful business...
Handling taxes can be a major headache for tradies. With the demands of the job and piles of paperwork, it’s easy to overlook some of the deductions you’re entitled to claim. Identifying all your eligible trade-related tax deductions can lead to a larger...
Are you looking to save money on your business taxes in 2024? Managing taxes can be tricky, especially with all the rules and regulations. But don’t worry! There are simple strategies you can use to reduce your tax liability and keep more money in your business. At...
Personal income tax changes Low income offsets: LMITO temporarily increased, LITO retained The low and middle income tax offset (LMITO) will be increased by $420 for the 2021–2022 income year so that eligible individuals will receive a maximum LMITO benefit up to...
If you have recently started your small business and have hired new employees, you must be worried about whether you are doing right or not. Are you properly calculating your employees’ hours and giving them a monthly salary accordingly? Okay, what about calculating...
It is very important to keep all your company’s finances organized with the objective that filing will be quite an easier process. In any case, it’s critical not to flood things, and benefit from every credit and tax deduction accessible to you. Also, you will need to...
