Penalty for failure to lodge tax return on time?

Received a penalty from the Australian Tax Office for a failure to lodge your tax? You are not alone with the Australian Taxation Office (“ATO”) being on a significant collection drive by sending these types of notices for overdue income tax, GST, activity statements, and other lodgements. The ATO calculates the dollar value of the […]

Cash v Accrual Accounting Methods

Cash vs. Accruals  – knowing your options. Business owners with an annual turnover of under $2 million per year, have a choice whether to report their GST using a ‘cash’ or ‘accrual’ method. This can result in substantial differences in respect to Quarterly GST  and annual Income Tax refunds / payments. What Is the Difference between […]

Salary & Wage Earners

Salary & Wage Earners  We will professionally prepare your tax lodgments However we are keen to empower our customers with more information on their Income Tax obligations – as we recognise many of our customers are interested to know what they can and cannot claim as a tax deduction. The below is a handy guide, that lists […]