The top 5 forgotten tax deductions

With tax time well underway, it is a good time to discuss deductions – especially deductions that are often missed by taxpayers like you. We surveyed our senior accountants and asked them “what are the top 5 forgotten deductions on individual tax returns?” – That is, deductions people can claim, but often forget or don’t know […]

What does the 2016 Budget mean for me?

On 3 May 2016, the Turnball Government delivered its first Federal Budget. It is also the last Federal Budget to be delivered by the current Government given the impending election. According to the Treasurer, this year’s Budget is not an ordinary Budget – rather, it is an economic plan that focuses on three key actions: […]

Cancelling your GST Registration

You must cancel your GST registration within 21 days if your business has: – closed down – been sold – changed structure, for example, changed from a partnership to a company. For more information about cancelling your GST registration click here.

Correcting GST Errors

This guide explains how to correct GST errors you made on an earlier activity statement. In particular, it explains when you can correct GST errors on a later activity statement, in accordance with Goods and Services Tax: Correcting GST Errors Determination 2013 which took effect from 10 May 2013. Read more from the ATO…