Inaccurate payroll and bookkeeping remain common challenges that Australian businesses face in 2025. From initial employee hiring to day-to-day tasks such as expense management and vendor payments, businesses continue seeking ways to save time by automating their accounting processes. Choosing between MYOB, QuickBooks, and Xero has become easier as cloud accounting has evolved from a…
NFP salary packaging allows not-for-profit employees to pay everyday expenses with pre-tax income, providing not-for-profits a way to save on taxes. This reduces taxable income and increases take-home pay. Around 600,000 Australians work in the not-for-profit sector, representing 10% of the workforce.​ NFP wages typically fall below corporate salaries. But the work delivers rewards beyond…
Important Update The $20,000 instant asset write-off threshold has been extended to 30 June 2026, following a government announcement on 4 April 2025. This means sole traders and small businesses with a turnover under $10 million can continue to immediately deduct the full cost of eligible assets under $20,000 throughout the 2025-26 financial year.​ However,…
Treasurer Jim Chalmers has announced a set of revised superannuation tax changes that introduce two new tax thresholds—$3 million and $10 million —both indexed to inflation, and remove taxes on unrealised capital gains.​ Announced on October 13, 2025, the Australian government has significantly revised its controversial superannuation tax policy after two years of criticism from…
If you’re a GST-registered business, it’s that time of year again when you (or your accountant) need to prepare and submit a business activity statement to calculate your GST obligations or the GST refund you’re entitled to from the Australian Tax Office (ATO). Hiring a BAS agent or tax agent can provide extended due dates…
New sole trader or partnership businesses often operate at a loss for the first few years as they grow. To keep the business growing, sole traders and partners often have to cover the loss with other forms of income, usually salary income. Typically, in the initial stages of growing their new business, these individuals continue…
For many Australian graduates, HECS-HELP debt is a big financial burden that needs to be managed. The Australian Government supports the HECS-HELP loan scheme, which helps students cover their course fees. With recent changes to indexation rates and repayment thresholds, understanding your student loan is more important than ever. This guide will give you the…
Get the latest information on ATO audits, including what happens during an audit, what can be audited, and why
Knowing about the tax deductions for your home office expenses will certainly boost your small business tax return. However, many small business owners miss out on these expense claims because they aren’t equipped with the knowledge presented by the Australian Tax Office (ATO). Home-based businesses are a large part of the Australian business community, with…
The main residence exemption 6 year rule lets you rent out your former home for up to six years and continue treating it as your principal place of residence for capital gains tax (CGT) purposes. If you sell within that window — and you haven’t nominated another property as your main residence during the same…
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