by Camden Professionals | Feb 6, 2023 | Cashflow, PAYG, Small Business, Small Business Tips, Tax & Accounting
Setting up a new business is an exciting, but it is critical to consider how you structure your business correctly to gain the maximum tax benefits. Many Australians initially set up the small business as a sole trader. This article looks at what your tax obligations...
by Camden Professionals | Dec 9, 2022 | Fringe Benefits Tax (FBT), Interest Rates, Small Business, Tax & Accounting
As we are head towards the Xmas party season and end of year business activities, business owners need to consider the tax implications that relate to customer gifts, staff parties and staff end of year gifts. This article looks at some of the tax effective ways you...
by Camden Professionals | Nov 4, 2022 | Announcements, Business, Director ID, Tax & Accounting
Time is running out to apply for a Director Identification Number – Director ID (fines from $13,200 apply for late applications). New rules require directors of Australian companies to obtain a Director Identification Number (director ID). It is a unique 15-digit...
by Camden Professionals | Nov 4, 2022 | Announcements, ATO, Tax & Accounting
Australians owe almost $45 billion in unpaid taxes – and the tax office is coming to collect. Collectable debt rose by 69 per cent to $44.8 billion in 2021/22, from $26.5 billion in 2019 before the COVID-19 pandemic hit. Following in from the recent budget, the...
by Camden Professionals | Oct 10, 2022 | Fringe Benefits Tax (FBT), Tax & Accounting
The Treasury Laws Amendment (Electric Car Discount) Bill 2022 was introduced which proposes to make the provision of zero or low emissions vehicles exempt from fringe benefits tax (FBT). The FBT exemption will apply to cars below the luxury car tax threshold for fuel...
by Camden Professionals | Sep 30, 2022 | SMSF, Superannuation, Tax & Accounting
Tax concessions are one of the major reasons why SMSF trustees look to buy property with an SMSF. Your SMSF tax rates vary depending upon whether your SMSF is in Accumulation Phase or Pension Phase. When your SMSF is Accumulation Phase you are still working, and you...
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