With the end of the financial year approaching, now is the perfect time to pull up a chair and talk about what really matters for your business’s tax position. At Judge Accountants, we understand that tax planning isn’t just about compliance—it’s about creating opportunities that make a real difference to you and your business.Whether you’re … Continued
Why Tax Planning Shouldn’t Be a Last-Minute ScrambleWhen it comes to tax planning for your small to medium business, the difference between scrambling at year-end and implementing a proactive strategy throughout the year can significantly impact your bottom line.As Western Sydney business owners ourselves, we understand the unique challenges you face. Tax planning isn’t just … Continued
Running a small business in Australia comes with its fair share of challenges. Between managing employees, serving customers, and staying compliant with tax regulations, business owners have a lot on their plate. One of the most effective ways to streamline operations and improve efficiency is by investing in accounting software.Gone are the days of manual … Continued
As a tradie, you likely started your business as a sole trader—simple, cost-effective, and easy to manage. But as your business grows, so do your responsibilities, risks, and opportunities. The structure that once served you well might now be limiting your growth, exposing you to unnecessary risks, or costing you more than it should.So, how … Continued
Finally! Some Relief: What the Latest Interest Rate Cut Means for YouThe Reserve Bank of Australia (RBA) has just announced a 0.25% reduction in the official cash rate, bringing it down to 4.10%. This move comes as inflation eases into the RBA’s target range of 2-3%, offering potential relief for borrowers and a boost to … Continued
Tax planning is essential to ensuring that your business minimises its tax liabilities and maximises the benefits that can be accrued. It also helps your business remain compliant with relevant regulations and tax laws, while also reducing the stress involved with managing your tax obligations during tax season.This is why, every year, Judge Accountants provides … Continued
SMALL BUSINESS ENERGY INCENTIVE If you want to become more energy conscious within your business operations the good news is that now you can get a bonus tax deduction from doing so. The Australian Government announced it will provide businesses that have an annual turnover of less than $50 million with an additional 20% deduction … Continued
You have probably heard the recent Labour announcement earlier this week of significant changes to super that may impact you. On 28th February 2023, the government announced that from 1st July 2025 a 30% concessional tax rate will be applied to future earnings for superannuation balances above $3 million. As of yet, this cap has … Continued
Both new and established investment properties attract depreciation deductions for their owners, however, there are differences in what owners are eligible to claim. Here, BMT Tax Depreciation outlines the differences in depreciation eligibility between new and established investment properties. Depreciation overview Depreciation is the natural wear and tear of a property and the assets within … Continued
Are you aware of the adjustments to JobKeeper and how they affect you? As many of you are aware, the Government recently announced that JobKeeper payments will be extended until 28 March 2021, with payments being made over two separate extension periods. The extension periods are: Extension period 1, which covers the seven new JobKeeper … Continued
As anticipated, the Government has announced an extension to its two major stimulus programs; JobKeeper and JobSeeker, to ensure support is provided after 30 September when the programs were originally due to expire. The current extensions to the programs are as follows: JobKeeper Extension: JobKeeper has now been extended till 28 March 2021 – with … Continued
One of the most common mistakes made by property investors when completing their annual tax return is confusing repairs, maintenance and improvements. It’s important to understand and distinguish each deduction in order to correctly lodge your claim and maximise your tax refund. According to the Australian Taxation Office (ATO), repairs are considered work completed to … Continued
All employees want to minimise their tax payable. Who wouldn’t? A major assumption is that claiming deductions on most receipts means minimising the tax payable – but you need to ensure you are following the ATO guidelines. The ATO states that in claiming deductions, individuals need to ensure they claim only what is related to their profession. With increasing … Continued
One thing that some businesses forget to consider is, if they will need to pay Fringe Benefits Tax (FBT). Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee (or an employee’s associate e.g. a family member) in place of salary or wages. Here are some tips and tax … Continued
The 2016 Budget was always going to be interesting. On one hand the Liberal Party wished to use this Budget as their policy platform for the coming election, and on the other hand, a budget deficit exists that needs to be eventually reduced. This Budget achieves its objectives of providing a few tax ‘perks’, whilst … Continued
Year End Tax Planning Now is the time to act and focus on your tax and financial planning in order to minimise tax, reduce risk, and be prepared financially for the year ahead. Effective tax planning is something that should be considered year-round and by making it a priority could result in you paying less … Continued
The big winners from Joe Hockey’s 2015 Budget are small business owners. With tax cuts on business income and the ability to immediately write-off business assets up to $20,000, small business owners have a lot to be happy about. Other people in the community were hit hard with this Budget, with overall spending cuts to … Continued