Filing your taxes in Australia can be a daunting task, and mistakes can happen to even the most meticulous taxpayers. If you’ve realized that you made an error on your previously filed tax return or omitted important information, don’t worry; there’s a solution. In this blog post, we’ll guide you through the process of amending […]
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In the dynamic and rapidly evolving landscape of online commerce, maintaining a firm grasp on your business finances is paramount. A key player in this realm is the business accountant, whose expertise ensures that your online enterprise remains financially healthy and compliant. In this article, we’ll delve into the essential accounting practices that can empower
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When it comes to managing your investments and business ventures in Australia, understanding and minimizing Capital Gains Tax (CGT) can significantly impact your financial gains. CGT is levied on the profit you make from selling an asset, such as property, shares, or business assets. However, with the right strategies and guidance from a knowledgeable business
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High-income earners in Australia are one of the highest taxed in the Western World. Those earning over $180,000 are subject to a 45% marginal tax rate, plus the Medicare Levy. Fortunately, several strategies can help high-income earners legally reduce their tax liability. Melbourne business accountants such as Nobel Thomas can help. Here are some important
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Shared office spaces have gained immense popularity in Melbourne in recent years, transforming the way people work and collaborate. With its bustling business scene and thriving entrepreneurial spirit, Melbourne offers numerous shared office spaces that cater to diverse professionals and businesses. In this article, we will explore the benefits of shared office spaces in Melbourne
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Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold – increased to $70,000 from $53,900. Work restrictions for student visa holders reintroduced to 48 hours per fortnight. The
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Selecting the right accountant can be crucial for your future success. By choosing the right accountant in Melbourne, you are choosing an accountant who understands tax legislation, business structures, and business strategies who will be your financial partner for life. Here are ten essential tips to guide you in choosing the perfect accountant. 1. Understand
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The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice to the booming industry. Back in October 2022, OnlyFans CEO Ami Gan announced that the platform had reached a milestone – paying out $10 billion
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The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach. Section 100A
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From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has reduced to 55 from 60, more people have an opportunity to use this strategy if it suits their needs. What’s a
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