GST Registration Guide for BusinessGST Income Registration Requirements all you need to know. The Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services, and other items sold or consumed in Australia. If you're running a business, you need to understand whether you need to register for GST and what your obligations are. Here’s aguide to the GST income registratio
Navigating Tax Returns with an ABN: A Comprehensive Guide Owning an Australian Business Number (ABN) comes with several responsibilities, especially when it comes to lodging your tax returns.You will need to have someunderstanding of the requirements for your tax return.This guide will walk you through the essentials of completing your tax return under an ABN, including the necessary business s
What can I claim for Only Fans Business? Running an OnlyFans business involves unique expenses, and it's crucial to differentiate between deductible business expenses and private costs. Here’s a detailed guide to help you navigate through what you can claim and what you should be cautious about: Home Office Expenses: Portion of Rent/Mortgage Interest:You can claim a p
Can I Claim KM as a Tax Deduction if Work Compensates Me? Index Introduction ATO Guidelines on Work-Related Travel Expenses The Exception to the Rule Example Calculation Maximising Your Tax Deductions 1. Introduction Understanding the rules around claiming kilometers as a tax deduction is important for employees who travel for work. While the general rule is that you canno
Is Income from NDIS GST-Free? The National Disability Insurance Scheme (NDIS) is a critical support system for Australians with disabilities, providing them with the necessary services and assistance to improve their quality of life. For businesses and service providers involved in the NDIS, understanding the GST implications is essential. Now let's take a look... GST and NDIS: The Basics
Maximising Dividend Deductions for Shareholders Investing in shares and receiving dividends comes with tax implications. Let's take some time out and learn how to maximise your tax deductions for dividends.We'll explain what dividend deductions are available to individual taxpayers. What Are Dividend Deductions? Types of Dividends Franked Dividends Unfranked Dividen
Tax Deductions for NDIS Workers: Maximizing Your Benefits As an NDIS worker, you play a crucial role in supporting individuals with disabilities, and it's important to understand the tax deductions available to you. Wewill break down the types of expenses you can claim, highlight common traps, and provide practical examples to help you maximise your tax benefits. Index What Can NDI
How to Handle Capital Gains Tax on Investments Look out for the Traps Understanding how Capital Gains Tax (CGT) works and being aware of common traps willhelp you manage your investments more effectively. Index What is Capital Gains Tax (CGT)? Key Points to Consider Holding Period Cost Base Adjustments Offsetting Capital Gains with Losses Common Traps and How
How to Lodge Your Tax Return Online with Gotax.com.au Lodging your tax return online has never been easier, thanks to platforms like Gotax.com.au. Here’s a step-by-step guide to help you navigate the process. Before you start, it’s time to gather all the necessary information so we get this all done in one go. Visit GoTax.com.au Open your web browser and go toww
The Ultimate Tax Record Keeping Guide Tax records may not be exciting, but they are very important for making sure you can maximise your tax deductions and avoid issues with the ATO. Let'swalk you through what records to keep for your income tax return and the best methods to keep your records organised. Why Keep Tax Records? What Records to Keep Work-Related Purchases