Tax Planning
5 Warning Signs That You Have Slipped From The Path To Wealth
Let me share a story with you… It was a little over 12 years ago when my whole life flashed right in front of me. My family was in a state of collapse. I was working over 12 hours a day and was completely run-down. My back was against the wall and I was completely […]
Secrets To Why The Rich Get Richer
95% of Australia’s population at age 65 is either dead, dead broke or on the pension. This is not discriminatory. This includes Tradies, Engineers, IT Consultants, Doctors, Lawyers, School teachers, Secretaries, Accountants and so on. How can this be possible? The Australian Government pumps Billions of dollars in education from school days to retirement and […]
The 80/20 rule, the ATO and you
ATO 80/20 rule The 80/20 rule relates to personal services income (PSI). Depending on where the individual sits within the 80/20 rule can affect they report their income on their own tax return and what deductions they can claim. Contrary to popular belief the 80/20 rule is not about whether one can be considered a “contractor” due […]
What can I claim against my tax?
It’s tax time again. What can you claim to reduce your tax? Please take just 2 minutes to read this blog article. We’ll explain: Deductions you can claim The importance of a fantastic tax accountant The “tax trap” you need to avoid Links to more information about specific deductions Deductions you can claim According to […]
Some good news for Depreciation changes for Property Investors!
Some good news for Depreciation changes for Property Investors! Most investors know that there were changes to depreciation announced in the May 9 Federal Budget. The draft legislation was released recently and cleared up some confusion, but also contained some good news. First up, the clarifications: The changes do NOT affect commercial property. The changes do NOT […]
How to never, ever miss out on a tax deduction
After helping thousands of clients over the past 16 years, there’s 3 key things I believe you will incredibly benefit from doing in the next month. 1. How to never, ever miss out on a tax deduction Many people miss out on tax deductions, every year, because they: Lose receipts Forget about payments they make […]
Getting ready for The New Financial Year!
Your 2017 EOFY Tax Minimisation Tips Another financial year is about to finish! As a business owner, there are many obligations that you need to consider and action just before and after 30 June. Some of these will help to minimize your tax. We have outlined these action points below to assist you. Date Action […]
Budget Update 2017
2017-2018 Federal Budget Update We at Success Accounting Group are here to help you make smart financial decisions now so you can have a beautiful financial future. One way we do that is through careful tax planning! If you haven’t met with us yet, now is the time to contact us to arrange a tax planning […]
TAX DEBT
Managing cash flow is a constant challenge for small businesses, but there’s no reason for tax obligations to make it any harder. Tax debt is any taxes that you owe to the ATO after the filing deadline. It does not matter if you filed your tax return before the deadline or paid a partial amount […]
The Fringe Benefits Tax
The Fringe Benefits Tax (FBT) year runs from 1 April 2016 to 31 March 2017. Another tax planning strategy for business owners, is to determine if they have an FBT exposure and if so start to collect the relevant information in order to complete an FBT return for the year. What is it? FBT is […]