Business Tips: Using forecasting to help your decision-making
Good-quality forecasting can be just as useful, giving you an informed view of the future of your business and finances. Read More…
By Tui Silvester
Tips to help you get tax ready.
How you get your end of financial year information from your employer showing your earnings for the year (also known as a payment summary or income statement) depends on how your employer reports your income, tax and super information to us. You will be provided with either:
For more information, click here to
read Accessing your payment summary factsheet or visit the ATO
website.
Deduction information for employees
The ATO have provided a number of factsheets relating to specific deduction items in the individual tax returns, these include Clothing and laundry, Employees working from home and Self-education expenses. These factsheets provide guidance as to what you can and can’t claim as a deduction, together with information on records required to substantiate these claims.
There are also occupation and industry specific guides available for 30 different industries, providing information around common claims for that particular industry, these can be useful to ensure you are providing your tax agent with the information for all deductions you are entitled to. These guides can be found here.
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Business Tips: Using forecasting to help your decision-making
Good-quality forecasting can be just as useful, giving you an informed view of the future of your business and finances. Read More…
Deductions for Primary Producers
If you're a primary producer in Australia, you probably know that most capital expenses—like farm buildings, equipment, and infrastructure—are depreciated over multiple years. Read More…
How to optimise your business: Build on those customer relationships.
Customers are the bedrock of your business, and building better relationships with your customers is a keyway to optimise your business for the future Read More…