Business
What is Tax Planning?
Transcript: Tax Planning is where you will review your financial situation and apply strategies to minimise or reduce the potential tax liability at the end of the financial year. This is around applying strategies within our law, within our legislation legally, to potentially minimise any tax debt that our clients might have coming to the end […]
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Tax
How to complete a Super Form
TRANSCRIPT: Hi guys, it’s Michelle Knight from Little Miss Bookkeeping. Today I wanted to run through a form you might already be familiar with, and that is how to complete your super form or a superannuation standard choice form which you’ll complete when you start a new job. As an accountant, I do see these get completed incorrectly. So […]
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Tax
How to complete a TFN Declaration
TRANSCRIPT: Hi guys, it’s Michelle Knight from Little Miss Bookkeeping. Today I wanted to run through how to complete your Tax File Number declaration or TFN Declaration. More often than not I do see TFN Declarations get completed incorrectly, whether they’re by people who are starting jobs for the first time or they’ve been in the workforce […]
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Tax
Why you shouldn’t lodge your 2020 tax return early!
>> WATCH NOW << TRANSCRIPT: This is Dan. He represents taxpayers in Australia. Now Dan wants to lodge his 2020 tax return because it is after the 1st of July. This is Michelle. Now Michelle represents bookkeepers/BAS agents, accountants/tax agents and business owners...
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Tax
How do I repay my HELP (HECS) debt?
Ever wondered how your HELP/HECS debt gets paid to the government? Are you unsure about these so called ‘thresholds’ and what they mean? We are currently rolling into a new financial year, which means some changes around tax legislation,…
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Tax
What is the Medicare Levy?
I recently received my Wondersmile aligners and it got me thinking about private health insurance and health care in Australia, more commonly known as Medicare. So I thought I’d give you a quick rundown. What’s the Medicare Levy? And how does it get calculated? What happens…
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Tax
How does my tax get calculated?
Ever wondered how your individual income tax gets calculated? Or how the Australian taxation system works? Long story short, in Australia the more you earn the more you get taxed. Tax affects all of us, so it’s important to understand how it works. If we didn’t pay…
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