Tax

The case for ‘audit insurance’ is a complex and ever-growing issue. Andrew Toumazis reports.

Life can be pretty tough whent he harder you work, the more taxes you end up paying. Well, they do say 'death and taxes...'. Andrew Toumazis reports.

Janne Ashton explains a few superannuation strategies for the wealthy and the wise…

The only way to avoid tax time nightmares and get some sleep is to follow some very basic principles.

For small to medium enterprises (SMEs), there are several key issues to consider at tax time including the relationship between company income and your personal income; the income declared between related entities; and GST integrity – particularly on property transactions.

With the end of financial year approaching, it’s time for business owners to review their financial situation as the tax planning season gets into full swing.

High on the list in the small business area of the ATO’s audit program is additional scrutiny on taxpayers who are involved in the sale, purchase or restructure of their business.

Fringe benefit tax - which some accountants like to call the sleeping giant - also has a reputation for being one of the most hated and confusing of all taxes.

For those of us who work or earn an income, July means it’s time to do our tax returns - or pay someone to do it for us. But before you get started, read on!

It’s coming up to tax time again. Tax planning should be an important part of any person’s wealth accumulation strategy and there are still things you can do between now and the end of June to help reduce your income tax.

Helpful tips on maximising your chances of getting a healthy tax return.

The Treasurer, Peter Costello, announced that Mr Dick Warburton and Mr Peter Hendy would undertake a study into how Australia's taxation system compares with other developed economies. Peninsula Living outlines what the report concluded.

Last year, more than 1.3 million taxpayers declared rental income in their tax returns. Around 220,000 of these claimed deductions for the first time. Since then, the Australian Tax Office has identified common mistakes made by people declaring rental income and claiming deductions, so if you’re a first timer or seasoned investor, here’s a little timely advice.

Here are some questions that often come up at tax time. The answers will help you prepare your tax and possibly even receive a worthwhile refund.

Be prepared. As the financial year draws to a close, preparation is the key to getting the best out of tax time. Here are some suggestions to simplify the process and optimise the outcome.