by Camden Professionals | Apr 17, 2023 | Announcements, ATO, Cyber Security, How To, Online Security, Tax & Accounting, Tax Scams
Tax season can be stressful for many people – and this stress can make you more vulnerable to scammers, who strike at the end of the tax year, hoping to gain an advantage at your expense. In the lead up to tax planning season, we take a look at at some of these scams....
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 | Apr 5, 2023 | ATO, Electric vehicles Tax, Fringe Benefits Tax (FBT), Small Business, Small Business Tips, Tax & Accounting
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. If your employer provides you with the use of a car that is classified as a zero or low emissions vehicle...
by Camden Professionals | Apr 1, 2023 | Business Advisory, How To, PAYG, Small Business, Small Business Tips, Tax & Accounting
What is Single Touch Payroll (STP)? Small businesses and employers must now report superannuation contributions, income tax withholdings and other payment information via a Single Touch Payroll (STP) system. This system replaced the traditional paper-based reporting...
by Camden Professionals | Mar 24, 2023 | ATO, Property Investment, Property Investment Tips, Property Tax, Tax & Accounting
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise...
by Camden Professionals | Feb 6, 2023 | ATO, Business, Company Directors, Loans, Tax & Accounting
An area that often gets small and medium sized private companies into hot water is the blurred line between the company’s money and the owner’s money. This is an area taxpayers often tend to get wrong and the ATO pays particular attention each year to this issue....
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