Navigating Christmas Parties and Gift Tax:A Guide for Businesses As the festive season approaches, businesses are gearing up for Christmas parties and gift-giving to celebrate the spirit of the holidays. However, it’s essential to be aware of the tax...
You can claim tax deductions for expenses you incur while running your business if they’re directly related to earning business income (also known as assessable income). Take Jane, for example. Jane is a sole trader who works as an IT consultant. As part of her...
21 June May monthly activity statements – final date for lodgment and payment. 30 June End of financial year. 14 July End of year finalisation declaration through STP due. Payers must issue PAYG withholding payment summaries to payees (that is, employees and other...
Review the previous financial year: Take the time to evaluate your financial performance in the previous year. Analyse your income, expenses, and investments. Identify areas of improvement and success to inform your strategy for the upcoming year. Set financial goals:...
Superannuation changes for the 2024 Financial Year Superannuation (Super) is a system in Australia designed to help individuals save for retirement. It is regulated by the Australian government and undergoes periodic changes to improve the system and cater to evolving...
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