We asked our expert blogger Adrian Raftery (aka Mr Taxman) for his top tips on strategies to implement before the end of this month to reduce your tax. Whether you’re a business owner or an employee, there’s something for everyone.
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We asked our expert blogger Adrian Raftery (aka Mr Taxman) for his top tips on strategies to implement to reduce your tax. Whether you’re a business owner or an employee, there’s something for everyone.
...read more
The average tax deduction claimed by an individual taxpayer is $3,311 according to the latest statistics from the Australian Taxation Office (ATO).
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We heard before Christmas that voluntary tax returns won’t be far away as it is one of the key recommendations of the much anticipated Henry Tax Review.
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Debate will no doubt rage for years to come whether the “Kev 07” stimulus package worked for Australia. I must admit that I queried the benefit of it when it was announced on 3 February. I struggle to find the benefit of giving someone $900 if they are at risk of losing their $50,000 job.
...read moreIt may seem strange that an accountant would say that money is not important. But I was lucky in that I was never brought up to be materialistic.
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Can’t help myself with this but I need to have a go at all banks today. Here are multi-billion companies, with all the latest technology and smartest people in the world. Yet when it comes to approving a piddly little loan, of say $10,000, for a good customer (with a great credit history and track [...]
...read moreTimes are tough so every dollar saved counts. Last week I provided the first ten of my top twenty tax tips for this financial year. This week I now provide you with my Top Ten Tax Tips for 2009. Remember that tax planning should be 365 days per year not just one month. These strategies [...]
...read moreWell the Federal Budget came out last week and most pundits labeled it as a pretty tame affair particularly with respect to businesses. I have to agree. There was no change for large business and the only significant change for small business was the extension and increase of the Small Business Tax Break – from [...]
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I always get asked for a tip or two, particularly around tax time each year. So over the next 2 weeks I will provide my top 20 tax tips for 2009. Please note that not all of the tips will be applicable to you or your business and you should consult your own adviser/s to [...]
...read moreLast week we saw the announcement of winner of “the best job in the world” up in Queensland. What a great job. $150,000 for six months “work” telling the world how beautiful it is staying on those beautiful tropical islands. What a lucky “you-know-what.” That was one of the great marketing campaigns. The whole world [...]
...read moreAaahh … Federal Budget week. It always brings so much joy to accountants throughout Australia. Why? Because you matter who is in Government and no matter how long they have been in power, they always feel that there is a need to tinker with the tax rules. FBT, CGT, GST, Simple Super, Simplified Tax System, [...]
...read moreI almost choked on my dinner last night when I heard that there are accounting firms out there charging a $45 “handling fee” for their part in forwarding on the $900 stimulus payment. What on earth are they thinking? I have been involved in accounting firms for the past 20 years & I have always [...]
...read more2008 was a horror one financially for most of us. Alot of people have asked me for a few ideas for creating their own list of New Year’s resolutions to help put their finances in better shape in 2009. With the Christmas cheer gone, now is the best time to get serious about your finances. [...]
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After talking to so many business people over the years, it is rather interesting that they all seem to have the one thing in common – they all hate the taxman. But why do you hate the taxman? After all, the ATO does not set the taxation rules, they simply administer them. It is the [...]
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