Tax Planning Features
The Australian Federal Budget 2022 was delivered on 29 March 2022 by the Federal Treasurer Josh Frydenberg.
See our breakdown of the tax measures impacting small business in Australia.
At Smith Shearer, we are an accounting firm based in Esperance, and we are more than just an accounting firm who can assist with the complicated taxes for our local farmers, but we can also help you as an individual or sole trader too.
Discover effective strategies for agribusiness and business tax planning with our essential guide on interim financial statements. Ensure timely and informed decisions to optimise your taxation position for the 2024 financial year.
Diving into the details of Capital Gains Tax (CGT) in Australia, especially if you own a large property over 2 hectares, might seem overwhelming at first. However, by understanding some basic rulings surrounding CGT, you’ll be able to plan wisely when it comes to selling your home.
In this blog post, we explore the newly introduced Small Business Technology Investment Boost and Small Business Skills and Training Boost, which provide small business owners with additional deductions on their tax returns. Discover how you can leverage these boosts to maximise your business's tax benefits while embracing digital innovation and investing in employee training. From understanding the eligibility criteria to tips on claiming the deductions and staying updated with Super Guarantee requirements, this post equips you with the knowledge to optimise your business tax return and propel your small business towards success.
Making superannuation payments on behalf of your employees prior to June 30 is an important tax planning strategy. When to pay your employees' Q4 super guarantee (SG).
The ATO has now released Draft Taxation Ruling TR 2022/D1 Income Tax: Section 100A Reimbursement Agreements.
If you operate within a trust structure, it’s vital you know about this ruling. While it’s complex information, we will try to break it down for you as much as possible. Read on…
Are you aware of the two new incentives that were released in the March Budget? The Skills and Training Boost, and the Technology Investment Boost were both mentioned and released, however they aren’t legislated yet.
It’s the start of the end of yet another financial year. For farming businesses and small businesses across Western Australia, this year has presented a number of both triumphs and challenges. That’s why it’s vital to begin thinking about strategies which can be implemented to reduce taxable income for year ending 30 June 2022.
Discover the latest developments post-2022-23 Federal Budget as the Technology Investment Boost and Skills and Training Boost clear parliamentary hurdles. Unveiling a significant opportunity for businesses with under $50 million turnover, this blog unveils the 120% tax deduction for technology and skills expenses. Get ready to maximise these advantages with essential insights provided here
As we commence the third fiscal quarter, it’s a timely reminder to consider your options for the instant asset write-off as there may only be a limited amount of time remaining to claim this deduction.
If you are wondering what you could be claiming when it comes to home office expenses and you feel a little lost, we break it down for you (including the best ways to get the best return for you!)