Category: Uncategorized

Business tips: Finding the best routes to finance

Do you need extra funding to take the next step in your business strategy? We’ll help you review the lenders and finance products – so you have the best possible routes to finance. Every business needs finance to get the initial enterprise off the ground. You may well have entered into finance arrangements to fund […]

Business tips: Getting in control of your spending

A few simple steps can help to cut down your business expenses. We’ll help you spot the areas where costs can be cut and use the latest tech to manage the numbers. Keeping the business in a positive cashflow position is vital. But you can only do this if your cash inflows (sales revenues and […]

Tax Tips for Individuals 2022

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 to prepare for your 2022 tax. We’ll help maximise your return. Although your tax return is not due for a few months yet, the end of the […]

Tax Tips for Property Investors 2022

Are you making the most out of your investment property? Getting the income and allowable tax deductions right can be complex. We’ll help sort out the details so you’re claiming all you can. Talk to us today to maximise your 2022 tax return. If you have income from investment properties, now is the time to […]

Tax tips for self-managed superannuation funds 2022

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. Contact us about managing your SMSF investments, assets, compliance, administration, and reporting. Having a self-managed superannuation fund (SMSF) gives you control and flexibility over how you make investments […]

Market Impacts of War in Ukraine

The devastating and tragic invasion of Ukraine by Russian forces has brought and will continue to bring heartbreaking impacts to the lives of millions. Our thoughts are with those affected, and all of us here at AGS Financial Group hope for as peaceful and speedy a resolution as possible. You may be wondering about the […]

Understanding the Basics of Business Taxes

Different business structures pay taxes in different ways. Although there are many taxes that a business might be affected by, the main ones are goods and services tax, income tax, pay as you go withholding tax for employees, payroll tax and excise tax. Other taxes that a business could encounter are fringe benefits, capital gains, […]

Understanding the Basics of Personal Income Tax

Australian residents pay income tax on all forms of income, after a tax-free threshold of $18,200. Tax is calculated at four different rates according to how much income you earn each year, and the tax rate increases the more you make. The highest tax bracket applies to those with a taxable income of more than […]

Understanding the Basics of Tax on Superannuation

Do you know how much tax you pay on superannuation contributions and withdrawals? The amount of tax depends on several factors, and it’s possible to minimise the amount you pay by understanding how the tax on super works. Tax on super is generally a lower rate than the tax on your income, and by using […]

Time to Review 2021 and Plan for 2022!

What are your business goals for 2022? The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement. Last year, there were inescapable impacts on businesses, with some thriving, others […]

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 […]

Our five Small Business goal-setting tips for 2022

Effective goal setting will help you get the very best out of the year. Our 5 goal-setting tips will help small business owners reach new highs. Wouldn’t it be great to have your best year ever, this year? Whether you want to grow your business or take more time for yourself, these goal-setting tips can […]

Cryptocurrency – Fad or Future?

There’s been an ever-increasing amount of hype around Cryptocurrencies, with many people either curious, clueless or outright keen to cash in. Here we outline some of the basics, as well as put forward the cases for and against investing in this emerging asset class. What is a Cryptocurrency? Perhaps the best starting point is to […]

APPLYING FOR A DIRECTOR IDENTIFICATION NUMBER

How do I apply for a Director ID? Each individual director must apply for their own Director ID directly, to verify their identity via the ABRS website, where you will click on the heading Apply for your Director ID. For most directors, the three-step registration process can be done online and reasonably efficiently (i.e., in […]

What is Personal Services Income?

Not sure if you’re earning personal services income or conducting a personal services business? Special rules apply to PSI. Talk to us and we’ll check the type of income and ensure you are claiming the maximum allowable deductions and not being overtaxed. Personal services income (PSI) is income received as payment for individual personal efforts […]