BAS, Tax Returns & Financial Statements

BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Bookkeeping | Small Businesses | Tax Planning | Tax Tips

Common Mistakes During the Financial Year (And How to Avoid Them)
ByDavie Mach January 21, 2026January 21, 2026

The financial year brings stress and complexity for Australian taxpayers, with 56% of small business owners and companies—including startups and small businesses—making costly errors during end-of-year preparations. These mistakes range from misplaced receipts to misclassified workers, each carrying the potential for missed deductions, ATO penalties, and unnecessary financial strain. The cost of these mistakes for…

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Contractor Handbook | BAS, Tax Returns & Financial Statements

What is the Tax-Free Threshold?
ByDavie Mach October 14, 2025October 14, 2025

The tax-free threshold is the amount of income you can earn in Australia each financial year before you’re required to pay any income tax. For the 2025–2 financial year, that amount is $18,200. This threshold applies to individuals who are considered Australian residents for tax purposes. If your total taxable income for the year is…

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Small Business Handbook | Accounting | BAS, Tax Returns & Financial Statements | Bookkeeping | Contractor Handbook

What Happens During an ATO Audit?
ByDavie Mach March 24, 2025September 9, 2025

Get the latest information on ATO audits, including what happens during an audit, what can be audited, and why

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BAS, Tax Returns & Financial Statements

Your Guide to Saving Money on Fuel in Australia with Fuel Tax Credit
ByDavie Mach November 28, 2024November 28, 2024

When running a business, you’re always looking for ways to reduce costs and maximise your bottom line. One often overlooked opportunity is claiming fuel tax credits. Diesel fuel, being a significant part of fuel expenses for many businesses, plays a big role in this context. So, by understanding how fuel tax credits work and following…

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Tax Planning | BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Contractor Handbook | Small Business Handbook | Tax Planning

How Do Tax Deductions Work in Australia?
ByDavie Mach November 14, 2024July 16, 2025

Every year, millions of Australians submit their tax returns hoping to reduce their taxable income through tax deductions. Tax deductions can lower the amount of your assessable income that’s subject to income tax, potentially saving you thousands of dollars each year. But understanding what expenses you can claim and how to claim them correctly can…

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Employers | Accounting & Tax | BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Contractor Handbook | Guides | Small Business Handbook | Small Businesses | Tax Planning | Tax Planning | Tax Tips

How to Reduce BAS Payments Legally for Australian Businesses
ByDavie Mach July 17, 2024July 16, 2025

As a business owner in Australia, you are likely familiar with Business Activity Statement (BAS) payments. Every quarter, you report your business’s Goods and Services Tax (GST), Pay-As-You-Go (PAYG) withholding, PAYG instalments, and possibly other taxes via your BAS. For many businesses, this can feel like a heavy financial burden, particularly if your cash flow…

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Accounting | BAS, Tax Returns & Financial Statements | Bookkeeping | Contractor Handbook

Boost Your Savings with New Technology and Skills Development Deductions
ByDavie Mach December 8, 2022August 7, 2024

Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.

Read More Boost Your Savings with New Technology and Skills Development Deductions
Contractor Handbook | Accounting | BAS, Tax Returns & Financial Statements | Bookkeeping

What are the Main Types of Taxes in Australia that Businesses Have to Pay?
ByDavie Mach December 1, 2022September 24, 2024

Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.

Read More What are the Main Types of Taxes in Australia that Businesses Have to Pay?
Accounting | BAS, Tax Returns & Financial Statements | Bookkeeping | Contractor Handbook | Small Business Handbook

A Guide to E-Invoicing and Your ATO Requirements
ByDavie Mach December 1, 2022July 31, 2024

Audits can be scary, but there is a lot you can do to prepare in order to have the best possible experience. Here’s what happens during an ATO audit.

Read More A Guide to E-Invoicing and Your ATO Requirements
BAS, Tax Returns & Financial Statements | BAS, Tax Returns & Financial Statements | Contractor Handbook | Small Business Handbook | Tax Planning | Tax Planning

The 9 Best Tax Deductions For Doctors
ByDavie Mach August 26, 2021July 20, 2024

Doctors are among the highest-earning professionals in Australia. And the higher the income, the higher the marginal tax rate. But did you know that as a medical professional, you’re eligible for a pretty long list of deductions? Unfortunately, however, many doctors are missing out because they don’t know what tax deductions they can claim. So,…

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