Below you'll find a list of all posts that have been categorized as “Tax Tips”
Act Now – Pay Later You know it’s Tax Time, but did you know you can “manage” your tax Refund date or tax Payment due date(s) to your advantage? Your Tax Refund or Tax Payment date will depend on the date you lodge your tax return. That means you can control your tax timing and avoid unexpected tax bills. Don’t …
Key Points The types of expenses you can claim depend on how you operate your business from your home. You can only claim deductions for the portion of your expenses that relate to running your business. You must keep records for at least 5 years to show how you calculated your claim. If you sell your home, there may be …
The $20,000 instant asset write off extended to 30 June 2025
If you’re a small business owner who operates from home or you use a vehicle for business purposes, you need to be aware of some changes when claiming deductions this tax time. Work from home business expenses Do you operate your business from home, even some of the time? For the 2022–23 income year, the fixed rate method increased from …
Super Guarantee rate 11%
From 1 July 2022, two important super guarantee changes will apply to your business. Whats’ changed The rate of Super Guarantee is increasing from 10% to 10.5%The $450 per month eligibility threshold for when Super must be paid is being removed. What this means for you These changes mean that from 1 July 2022 you’ll need to make Super contributions …
Technology Investment Boost $1.0 billion for a new Technology Investment Boost to encourage small businesses to go digital. Small businesses with annual turnover less than $50 million will be able to deduct a bonus 20% of the cost of expenses and depreciating assets that support digital uptake. This includes; portable payment devices, cyber security systems and subscriptions to cloud-based services. The boost …
Keeping on top of due dates can help you keep your business running smoothly. Take note of the most important financial dates for 2022 to plan for the year ahead and avoid any unnecessary penalties. End of Financial Year (EOFY) The end of the financial year is an important time for your small business. The last day of the financial …
Attention Employers: The Superannuation Guarantee rate increased from 9.5% to 10% on 1 July 2021. It is scheduled to increase to 12% by 2025. If you are a Small Business Owner that needs help with your Payroll, PAYGW Tax and Super obligations, Beck Partners can help you. Find Out More Find out more about Beck Partners , Who We Are and What We Do at our …
Business expenses you can claim as a tax deduction You can claim most of the expenses involved in running your business as a tax deduction Just make sure: They relate directly to earning your income The expense was for your business, not for private use If the expense is for a mix of business and private use, you only claim …
