As the end of the financial year approaches, medical practice owners can optimise their tax positions by implementing these essential EOFY tax planning strategies.
The ATO audit hotspots for individuals are cryptocurrency, rental property expenses and work-related expenses. Avoid common tax return mistakes doctors make in their tax returns.
One of the most common questions we get asked by doctors and dentists working in private practice is “Can I employ my spouse and claim…
Common types of income misreported or overlooked include Cryptocurrency Gains, Scholarships, Personal Service Income, Assessable Industry and Government Payments, Capital Gains.
Doctors incur a substantial amount of tax deductible expenses, some of which often get overlooked. We have summarised the top 10 most commonly forgotten tax…
As the major tax deadline is approaching, there are a few important things that some taxpayers need to do before their tax return is due.
If you are buying an investment property, should you have it in your own name or in a family trust? Each of these ownership structure…
Instant Asset Write Off threshold of $150,000 was extended till 31 December 2020. While these measures may seem generous, the incentive may not be beneficial…
The Main Residence Exemption is a CGT concession allowing owner-occupiers to disregard capital gain on disposal of their home. However, homeowners often don’t realise that…
Tax planning should always be done in advance. Business owners need to make certain critical decisions before year end. Implement these tax planning steps before…