Smart ways to invest your tax return
Tax time can often feel like a hassle, but it’s all worth it when that tax refund lands in your account. So, what’s the best way to spend it?
With last year’s average refund being $2,574, it’s no small question.i And if you are one of the lucky ones to receive a refund your options are endless. From paying down debt to investing in your future to blowing it all on a big holiday, the choice of how you spend your refund will depend on your goals and your circumstances.
Is your business financially fit?
The secret to a successful business is to make sure you are not just working IN your business but that you are also working ON your business. As the end of the financial year approaches, there’s no better time to give your business a financial fitness check.
Of course, the best policy is to continually monitor how your business is faring throughout the year. But if you’ve been caught up in the day-to-day management then now is a good time to get back on track because you will be looking at your figures for tax time anyway.
Cruising through the finish line - Tax tips for EOFY
The end of financial year can sometimes feel like a race to the finish. To help you cruise through the finish line come June 30, we’ve prepared a handy list of tips for both businesses and individuals.
Paving the way for a smooth EOFY
As the end of the financial year draws closer, thoughts turn to tax. No doubt you can think of more enjoyable ways to spend your time than preparing for your annual tax return. So how can you streamline the process while ensuring you take advantage of all the claims that are possible?
Guide to travel-related work expenses
Travelling for work can be expensive, whether it’s visiting clients in your home town or attending a conference overseas, so it’s important to claim everything you are entitled to in your tax return. But be aware that the ATO is paying increasing attention to claims in this area.
Bringing the budget into tax focus
As expected, tax is the centrepiece of the 2019 Federal Budget as the Morrison Government seeks to woo voters with just a few weeks to go before the federal election.
Car expenses on the ATO radar
With almost 4 million Australians making work-related car expense claims, the Australian Tax Office has the practice in its headlights.
Tax and your website: What can you claim?
Most small businesses and independent contractors have a website these days. If you are planning to launch a new website or refreshing an existing one, it’s important to understand the tax implications. As with all things tax, it’s not always easy.
Small financial steps add up
Sometimes, when thinking about your long-term financial goals, they can seem so big as to be insurmountable. But the truth is, those that achieve financial success don’t usually do so by encountering a sudden windfall. Rather, they have in place a set of small habits that allow them to work towards their dreams. And by investing small amounts over the long-term, they see big outcomes.
Financial rules to live by in 2019
Australia has enjoyed almost three decades of economic sunshine. But it’s worth remembering that dark clouds can appear without warning over both individuals and economies.
You may have little control over being caught up in a round of redundancies or experiencing the fallout of an international trade war. But you can choose to manage your finances in a way that lets you keep your head above water come what may.