Blog – Maddern Financial Advisers

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Tax

Tax Alert March 2021

Team Maddern
06/Mar/2021
Individuals and small business owners who have taken advantage of the government’s COVID-19 support programs will find themselves increasingly under the tax man’s microscope in coming months. This is just one of the key developments occurring in the world of tax at the moment.
Office staff

Retrain your staff with the tax man's help

Team Maddern
23/Jan/2021
For many business owners, fear of incurring a Fringe Benefits Tax (FBT) bill has kept them from retraining and re-skilling their employees to perform different roles or activities within the business.
Tax

Tax Alert December 2020

Team Maddern
10/Dec/2020
Although individuals and small business owners are now enjoying welcome tax relief in the wake of some valuable tax changes, there is more on the horizon as the government seeks to reboot the Australian economy. Here’s a quick roundup of significant developments in the world of tax.
Bookkeeping - taxes

Make selling your business less taxing

Team Maddern
08/Aug/2020
Selling a business you have spent so many years building up can be a difficult process, but getting the best price is not the only consideration. Tax has a big role to play in the financial result. That means the ATO will be paying close attention. Selling a business is considered as disposing of an asset, so it triggers a capital gains tax (CGT) event. If your sale isn’t handled correctly, you could find yourself on the receiving end of a hefty tax bill and a lot less profit than you expected.
Tax time

How COVID-19 changes tax time

Team Maddern
06/Jun/2020
As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different people.
working from home

Calculating your working from home deductions. New tax shortcut!

Team Maddern
16/May/2020
With many people now working from home because of COVID-19, some of the expenses your employer normally covers – such as electricity, heating and cooling – are coming out of your pocket instead.
Taxes

Tax concessions: helping small businesses

Team Maddern
25/Jan/2020
Running a business keeps you pretty busy, so it’s easy to overlook the help that’s available. Many small businesses don’t realise the government offers a range of valuable concessions that can make a real difference to their annual tax bill. Depending on your annual turnover, these can include reduced tax rates, asset write-offs, simplified depreciation rules and tax-free restructuring.
Festive season

Tax and the festive season

Team Maddern
24/Nov/2019
As the festive season approaches it’s time to start thinking about celebrations and spending time with friends and family. For most business owners, it also means it’s time to start thinking about saying thanks to your employees for another year of hard work. But it’s important to be aware of the tax implications of any gifts and celebrations you provide, as the rules can be complex.
Safe harbour

Finding safe harbour when business is rough

Team Maddern
26/Oct/2019
Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. Recognising the warning signs of potential insolvency is key to trading through difficult times.
Carving pie

Carving up your GST

Team Maddern
28/Sep/2019
Apportioning your GST obligations For many small businesses, reporting the GST you collect after issuing tax invoices to customers can be a headache. But there is a way to save time and make the bookkeeping process a bit easier – if you meet the ATO’s eligibility criteria.