Do I have to pay tax on my Australian property?

By Jarrod Rogers CPA We often receive questions from foreign owners of Australian properties, such as this: “I am a resident of the UK and I own a property in Melbourne. I do not live in Australia and do not have Australian citizenship. I work and pay tax in the UK. Do I have to … Read more

BAS statements for a closed business

If the ATO issues a document, such as a business activity statement (BAS) then they expect it to be lodged on time, and any payment made in full. You cannot just ignore BAS statements because your business: has ceased to operate no longer has turnover over the GST threshold, currently $75,000 It is up to … Read more

How to lodge a BAS in two minutes

You know how most small business owners hate paperwork and tax? Well, what we do is help them reduce both. In fact, we recently met a small business owner who used to have to allocate a whole day each quarter to doing his BAS. We showed him how to do it in 5 minutes AND … Read more

Can I buy gold with my superannuation?

The short answer is “yes”, there are several ways to use your super to buy gold. Read on to find out how. It wouldn’t take Sherlock Holmes to conclude that people are worried about the global economy, and its effect on their super. Between 2001 and 2007 the Australian Stock Exchange was booming, and super … Read more

Tax Strategies before June 30

How to reduce your tax before June 30 Here are some simple strategies to gain a financial advantage before June 30. I’ve summarised these in a YouTube video. Make a personal super contribution Open a first home saver account Work out the tax implications of health insurance Pre-pay your tax deductible expenses Adjust your salary … Read more

How to find missing tax records

Have you lost important tax paperwork? Finding a replacement is not as hard as your think. This article shows the quickest way to find lost tax records, including old PAYG Payment Summaries (aka lost group certificates). ATO pre-filling The simplest and fastest way to find your missing tax information is to obtain your ATO Pre-filling … Read more

Donations

In this YouTube video I’ll explain how much tax benefit you get from your tax deductions. You don’t get $100 back for every $100 of deductions – it’s actually only a percentage. Watch the video to learn: – why being reimbursed by your employer for work expenses is probably 3 times better than claiming it … Read more

What should I bring to my tax appointment?

You can download a summary checklist of what to bring in pdf format: Client Checklist – What Should I Bring Documents to bring to your appointment Clients often ask us what documents they should have in preparation for their tax appointment. One of the simplest ways to work out what to bring is to look … Read more

Unlodged tax returns and tax debts

Need a lifeline? Do you have outstanding tax returns that you have been putting off for years? Or are you struggling to pay a tax debt? Have you received a fine from the ATO which you think is unfair? Not sure what to do next? We can help with ATO debt and overdue returns Related … Read more