by Camden Professionals | Jun 20, 2024 | EOFY, Small Business Tax Deductions, Small Business Tips, Tax & Accounting
As 1 July rolls around it’s time to wrap up your financial year. The end of the financial year is fast approaching. Check out last minute tax tips for small business this EOFY So, get organised now, tick tax time off your to do list, and get back to running your...
by Camden Professionals | Jun 6, 2024 | EOFY, Small Business Tax Deductions, Small Business Tips, Tax & Accounting
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. OPPORTUNITIES Bonus Deductions Small businesses can take advantage of several bonus deductions in 2023-24,...
by Camden Professionals | Apr 18, 2024 | Capital Gains Tax (CGT), Small Business Tax Deductions, Smalll Business, Succession Planning
Small business capital gains tax concessions provide an opportunity for small business owners to reduce the amount of tax they owe on the sale of business assets. One of the key CGT concessions is the CGT exemption, which can be a significant tax-saving opportunity...
by Camden Professionals | Apr 28, 2023 | ATO, How To, Instant asset write offs, Small Business, Small Business Tax Deductions, Tax & Accounting, Tax Deductions
As the cut-off date for the instant asset write-off program approaches on June 30, 2023, many small to medium-sized enterprises (SMEs) are feeling the pressure to take advantage of the program before it ends. The instant asset write-off (IAW) initiative has been a...
by Camden Professionals | Apr 17, 2023 | ATO, How To, Income Tax Returns, Small Business, Small Business Tax Deductions, Tax & Accounting, Tax Deductions
As a tradie, it’s essential to understand the tax deductions you can claim to reduce your taxable income and maximise your tax refund. This article outlines five common tax deductions for both employee tradespeople (tradies) and business owner tradespeople (business...
by Camden Professionals | Dec 9, 2022 | Small Business, Small Business Tax Deductions, Working From Home
On Thursday 3 November 2022, the ATO announced draft changes to the work from home expense claim methods. Note: The draft Practical compliance guideline (PCG) released, outlines a new method called the revised fixed rate method for claiming a deduction for working...
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