Category: Tax

Important tax dates and obligations Q1 2023

Key tax & lodgement dates for the July – September quarter 2022 21 July Lodge and pay June 2022 monthly business activity statement. 28 July Lodge and pay June 2022 quarter activity statement if you lodge by paper Pay June 2022 quarter instalment notice. Lodge the notice only if you are varying the instalment amount. […]

Important tax dates and obligations Q4 2022

Key tax & lodgement dates for the April – June quarter 2022 21 April Lodge and pay March 2022 monthly business activity statement. 28 April Lodge and pay March 2022 quarterly business activity statement if electing to receive and lodge by paper and not an active STP reporter. Make super guarantee contributions for the March […]

How an accountant supports your business development

As your accountant, we won’t just look after the financial side of your business, we can also advise you on the strategic side of your company, including the importance of business development as vital part of your growth plan. Business development (BD) is what helps your company move from slow, organic growth to fast-paced, hypergrowth. […]

New Family Trust Tax Rules – Will the Changes Impact You?

If your trust pays adult-child beneficiaries, then you’ll need to know how the new ATO tax guidance rules could alter your beneficiary arrangements. The proposed changes won’t affect every small business operating through a trust arrangement, but it’s important to check that existing provisions meet the new requirements. The ATO has released several related documents […]

2022 Federal Budget

Tuesday night’s pre-election Federal Budget contained a variety of spending and support initiatives aimed at low and middle income earners, families and businesses. There were very few changes to superannuation, but a number of taxation and related measures. Please note that these proposals are not yet legislated, and as always, the team at AGS Financial […]

Important tax dates and obligations Feb-April 2022

Key tax & lodgement dates for the February – April 2022 21 February Lodge and pay January 2022 monthly business activity statement. 28 February Lodge tax return for: non-taxable large/medium entities as per the latest year lodged. new registrant large/medium entities Lodge and pay Self-managed superannuation fund annual return for new registrant SMSF’s. Lodge and […]

Government support for your business

What financial support is available this time around to help you and your business through the challenges of the next few months of lockdown and COVID-19 restrictions? #lockdownsupport As Australia goes into a new wave of Covid-related lockdown, businesses again face the challenges of social distancing, the wearing of face masks and other restrictions. All […]

Tax tips for self-managed superannuation funds

Are you spending too much time on SMSF management? It’s not easy to get all the details right, especially if your fund has changed operations over time. Do you need some help with managing your SMSF investments, assets, compliance, administration, and reporting. Having a self-managed superannuation fund (SMSF) gives you control and flexibility over how […]

Tax Tips for Property Investors

Are you making the most out of your investment property? Getting the income and allowable tax deductions right can be complex. If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2021 financial year. Income to Declare All income earned from each property […]

Tax Tips for Small Businesses

This year it’s important to get your records and tax return correct because of the unusual business circumstances, govt grants and JobKeeper. Make sure you’re claiming all that you can for your business. Common Tax Deductions for Small Business Are you claiming all the business tax deductions that you are entitled to? There are many […]

Tax Tips for Individuals

Are you making the most of allowable tax deductions? Individuals can claim for general work-related expenses as well as occupation-specific expenses and working from home. Book a time now to prepare your 2021 tax and we’ll help maximise your return. The end of the financial year has arrived. You can get ahead by preparing all […]

Reporting Cryptocurrency Transactions at Tax Time

Have you dived into the world of cryptocurrency exchanges? Cryptocurrency is used to describe encrypted virtual currencies which exist as digital tokens. This digital currency operates outside of government via decentralised ledgers or digital wallets but can be exchanged for online goods and services. The ATO treats cryptocurrency as a form of barter exchange. There […]

AGS Financial Group – Tax Planning Strategies for Individuals and Businesses

….Now is the time to nurture your financial position…..take stock of where you are and take action to preserve your future wealth….. Tax planning will be vital for all individuals and businesses alike this financial year. Why is this? Because your tax return this year will likely be very different (income & expenses) to what […]