Get ready for end of 2024 Financial Year We are almost approaching the end of the 2024 Financial Year. This post provides essential information and tips to help individual taxpayers and business owners prepare for the new year. Individuals (Common Mistakes and Tips)...
Personal services income explained Introduction The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of a person. It does not matter whether the income is earned by the individual in their own name or...
On-boarding new employees: When hiring new staff, there are certain steps you should follow to cover off on your tax, workplace, and superannuation obligations. (on boarding new employees) Confirm they are legally permitted to work in Australia Australian citizens,...
With the end of financial year fast approaching, now is a great time to boost your superannuation savings and potentially save on tax. Below are six superannuation strategies to consider before 30 June 2024. Keywords: super strategies, tax savings. Tip 1 – Use the...
Many of us wonder about the best vehicle to use for our extra savings. Is it better to direct extra savings to your mortgage or superannuation? As with most financial decisions, there is no one-size-fits-all approach as it depends on a number of factors for each...
