News & Articles
Whether you’re looking to stay ahead of tax updates, seeking strategic advice to propel your business forward, or exploring financial best practices for your investment property, our curated content is designed to empower and inform. Dive into our comprehensive collection of articles and equip yourself with the knowledge to navigate the financial landscape with confidence.
NFP Self-Review Return: Does Your Not-for-Profit Need to Lodge?
If your organisation is a non-charitable not-for-profit (NFP) with an active ABN, there’s a new requirement you need to know about. Starting from the 2023–24 financial year, these NFPs must lodge an annual NFP self-review return to confirm their eligibility for income...
How the 2025 RBA Rate Cut Impacts Your Mortgage Repayments
If you’re like millions of Australians, you’re probably relieved after getting a break from the Reserve Bank of Australia (RBA) following consistent interest rate hikes since April 2022. The good news? Most banks have agreed to pass on the 0.25% rate reduction,...
2025 ATO Compliance for Employers
As we find ourselves more than halfway through 2025, it is vital for business owners to remain vigilant regarding their employer responsibilities to prevent penalties and maintain smooth operations. Several upcoming changes and deadlines could have an impact on your...
NSW Capital Gains Withholding Changes from 2025
New updates to the Capital Gains Withholding (CGW) regime in New South Wales came into effect from 1 January 2025, introducing stricter requirements for property transactions involving foreign residents. These changes will impact both buyers and sellers of real...
New ATO Audit Update: How Rental Bonds Could Flag You
The Australian Taxation Office (ATO) is stepping up its game, using rental bond data to identify landlords who might not be meeting their tax obligations. Let’s break down what this means for you and how you can ensure you stay on the right side of the ATO. Why Is...
Why Small Businesses Fail
The high failure rate of small businesses is a stark reminder of how challenging and risky entrepreneurship can be. While external factors like tough industries or unfavorable economic conditions play a role, the leading cause of failure often lies closer to home:...
Australian Payroll: Compliance, Requirements, and Entitlements
Payroll is a critical aspect of running any business in Australia. Ensuring your payroll processes are accurate, compliant, and efficient helps maintain employee trust and avoids penalties for non-compliance. Let’s explore the key considerations for Australian...
20 Common Rental Property Tax Deductions
Investing in rental properties is a popular choice among Australians, offering a steady stream of income and potential long-term capital growth. Whether you're a seasoned investor or just starting, rental property can be a valuable asset in building wealth. However,...
Guide to Financial Reports for Small Business Owners
Financial reports are essential tools for understanding the health of your business. They provide crucial insights into your company’s performance, helping you make better decisions about your growth strategy, cost management, and overall financial stability. In this...
Guide to the NSW Business Equipment Upgrade Program
What Is the NSW Business Equipment Upgrade Program? The NSW Business Equipment Upgrade Program provides financial assistance to help you replace outdated, energy-draining business equipment with efficient, cost-saving alternatives. This is a great opportunity to...
Tax Implications of Different Business Structures in Australia
As your business evolves, so do its needs—and the structure that once served you well may no longer be the most tax-efficient or protective. Many established businesses find themselves outgrowing their original business structure, often leading to missed opportunities...
PAYG: What Business Owners and Investors Need to Know
PAYG, or Pay As You Go, is Australia’s system for tax withholding and instalments designed to help you meet your tax obligations throughout the year. Whether you’re running a business, managing property investments, or overseeing an SMSF, PAYG ensures you stay...
Guide to GST for Non-Resident Businesses in Australia
In Australia, the Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services, and other items sold or consumed. If you're a non-resident business supplying goods or services to Australia, it's crucial to understand your GST obligations to stay...
Does Your Small Business Need to Lodge a TPAR?
What is TPAR? The Taxable Payments Annual Report (TPAR) is a report that certain businesses in Australia must lodge with the Australian Taxation Office (ATO). The TPAR is used to report payments made to contractors for services they provide. This requirement aims to...
Strategies to Reduce Capital Gains Tax
Whether you're a seasoned investor or a small business owner looking to reduce your Capital Gains Tax (CGT), understanding the available options is crucial. The Australian Taxation Office (ATO) provides several ways to legally lower the CGT you owe when selling a...
10 Common Payroll Mistakes Small Business Owners Make
As a small business owner, managing payroll accurately is crucial for the smooth operation and financial health of your business. Payroll management can be complex, and mistakes can lead to serious consequences, including legal issues, financial penalties, and...
Maximise Your Tax Deductions with the Small Business Skills and Training Boost
As a small business owner, you likely invest in employee training to keep your team skilled and competitive. What you might not realise is that these training expenses spent could qualify you for additional tax deductions under the Small Business Skills and Training...
Small Business Energy Tax Boost: Maximise Your Tax Deductions
If you are a business owner who invested in energy-saving measures during the past financial year, you may qualify for additional tax savings through the Small Business Energy Incentive. Designed for businesses with an annual turnover under $50 million, this...
5 BAS Mistakes Small Businesses Make and How to Correct Them
Accurate Business Activity Statement (BAS) reporting is crucial for your small business. It's not just about meeting regulatory requirements but also ensuring sound financial management. However, navigating BAS requirements can be complex, and errors in reporting can...
Avoid These Common Tax Scams in Australia This 2024
As Australians handle their financial duties, including filing tax returns and meeting various obligations, they face the ongoing threat of tax scams. However, there is a persistent threat of tax scams, as fraudsters continually develop more sophisticated methods to...
Tax Planning Strategies for Small Business Owners
Effective tax planning is crucial for the success and sustainability of your small business. Properly managing your tax obligations can significantly impact your business’s financial health, helping you maximise profits and support growth. Without a solid tax...
Bookkeeping Guide for Hotels and Restaurants
Proper bookkeeping is crucial for your restaurant or hotel's financial health. It's all about keeping track of your money accurately. But it's not just about numbers; it's about following the rules too. The Australian Taxation Office (ATO) has guidelines you need to...
Bookkeeping Best Practices for Small Businesses
What is Bookkeeping? Bookkeeping is the process of recording all the financial transactions of your business in an organised and systematic way. These transactions include sales, purchases, receipts, and payments made by an individual or an organisation. Bookkeeping...
7 Common Bookkeeping Mistakes
Accurate bookkeeping is essential for any business, laying the groundwork for financial stability and compliance with regulations such as those set by the Australian Taxation Office (ATO). Throughout this article, we'll pinpoint common bookkeeping mistakes and provide...
A Guide To Buying an Investment Property
Buying an investment property can be an effective strategy for building wealth and securing your future. It can help improve cash flow, offers tax benefits and is seen as more stable than other investments. Many Australians don't take the first step towards purchasing...
NSW Government Small Business Support Package – January 2022
Small Business Support Package The NSW Small Business Support package provides eligible employing businesses with a lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week for the month of February 2022. The minimum weekly payment for employers...
First Home Buyers Scheme- Buy your first home with 5% deposit
The federal government has said it will extend access to its Home Guarantee Scheme designed to help first-time buyers and single-parent families own a home sooner by lowering the barrier to enter the property market and negating the requirement for mortgage insurance....
Housing prices | Stock Diversity and Affordability
Australian housing values were 1.3% higher in November marking the 14th consecutive month where CoreLogic’s national home value index recorded positive value growth. The November update takes national housing values 22.2% higher over the past 12 months, adding...
66 per cent of investment properties have one thing in common
BMT Tax Depreciation has been helping property investors claim thousands of dollars in depreciation deductions for decades. A look into the schedules they have completed in the last three years has revealed an interesting statistic: 66% of these investment properties...
Have you missed the Tax lodgement deadline 2021?
The 2021 tax deadline has come and gone, with the Australian Tax Office (ATO) now urging late lodgers to file and pick up their refunds. The tax deadline was Monday, 1 November, but overdue returns can still be lodged through the ATO’s myTax service or via your...
Maximise cash flow from Spring clean and maintenance costs
Spring has sprung and many Australians are looking to freshen up their homes or investment properties. Property investors have the added benefit of claiming their Spring maintenance and cleaning costs as immediate tax deductions. But how does this work and what do...
What is the 2022 Property Market Outlook?
House Prices – Where are they heading House prices have continued to rise throughout 2021, however this trend could be set to end due to expectations that the Reserve Bank could lift interest rates sooner than anticipated. National property prices rose again in...
5 Lessons for the Property Investor
Tips for Property Investors In 1949 the book 'The Intelligent Investor' was published by Benjamin Graham, an iconic book on investment psychology and long term gratification - both key traits for astute investors. The book focuses on longer-term and more risk-averse...
How you can claim thousands in tax deductions
Claim thousands in tax deductions off your property tax bill Just because June 30 has been and gone, property investors don’t need to wait another financial year to get a tax depreciation schedule. Even if a schedule is ordered after the end of a financial year (FY),...
Property Investors fail to claim Depreciation Deductions
BMT still finding an average of $8,940 in depreciation deductions Many of Australia’s property investors are still missing out on thousands of dollars in tax deductions each year by failing to maximise or claim depreciation for their investments. While changes to...
Property Settlement- Here is what happens
What Is Property Settlement? Property settlement is a legal process that occurs after the price of the property has been negotiated and agreed on between buyer and seller, and the contracts have been signed and exchanged between both parties. The process for...
No Results Found
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
No Results Found
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.
How Comprehensive Credit Reporting Will Boost Your Credit Score
The Comprehensive Credit Reporting has improved credit scores of many Australians since 1 July 2018. In fact, recent data show that almost half of Australians have improved their credit scores with the new reporting scheme. But what is Comprehensive Credit Reporting...
Have you considered setting up a SMSF?
Reasons for setting up an SMSF Most people invest their Superannuation in Retail or Industry Superfunds with their employers making contributions of Super guarantee contributions and sometimes salary sacrifice. Fund managers then make investment selection on behalf of...
Has your business made a tax loss this year?
An understatement is that this has certainly been a difficult year, and we are certainly seeing that many businesses have made a tax loss. A tax loss is when the total deductions you can claim, excluding gifts and donations, are greater than your total income for any...
JobKeeper Extension: What this means to business and employees
JobKeeper extension has been announced by the government. Payment for JobKeeper is now extended until 28 March 2021 for businesses and not-for-profit organisations severely affected by the COVID-19 pandemic. The payment extension, however, will be reduced and paid at...
ATO Employer Reminder – STP Data Needs to Be Finalized for 2020
A reminder has been issued by the ATO to employers reporting through STP (Single Touch Payroll). That applies to just about every employer, assuming that deferral or exemption isn’t involved. Employers need to have payroll information finalized for the income year of...
Tax Depreciation and Covid-19 Reports – Will Physical Inspections Be Required?
Businesses and property investors will sometimes hire a professional quantity surveyor, who will put together an updated tax depreciation report. This will provide depreciation and capital works deductions for revenue-producing properties they own. These places may...
JobKeeper Reporting Guidance Via STP
Guidance is available from the ATO if employers require assistance reporting qualified employees and/or topping-up JobKeeper payments through STP (Single Touch Payroll). Employers need to inform the ATO for every employee that qualifies: when a qualified employee...
Free Download: 2021 Financial Year Tax Calendar
Need a Tax Calendar to help you keep track of tax deadlines and meet other tax compliance obligations for the next Financial Year? Get your FREE Tax Calendar for 2021 Financial Year here! This Tax Calendar highlights important dates that are applicable for the...
Income Tax Return Assistance
Preparation and lodgement of Income Tax Returns and Financial Statements take some form of urgency with the conclusion of the Financial Year. To help assist you with gathering the necessary documents and information, we have created a tailored checklist for your...
Fringe Benefits Tax Exemptions
Fringe Benefits Tax exemptions are now available for Australian businesses affected by the COVID-19 pandemic. To provide certainty and relief to businesses at this time of pandemic, the Australian Taxation Office (ATO) has introduced various tax measures, and of these...
Superannuation Guarantee Amnesty, Act now! | Chan & Naylor
Have you applied for the Superannuation Guarantee Amnesty yet? Australian employers only have until 7 September 2020 to disclose, lodge, and pay to the Australian Taxation Office (ATO) unpaid superannuation guarantee or they’ll face penalties for their shortfalls. So...
Home Office Running Expenses: The Busy Person’s Guide to Tax Deductions
Home office running expenses became one of the top concerns of many since work-from-home became the new normal for corporate Australia. With the COVID-19 threat and the global focus shifting to health and safety, a large number of the employee populace have been...
No Results Found
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.