Your Tax File Number is your personal identifier used for tax and superannuation purposes and is an important part of your identity in Australia. It is essential for managing taxes, applying for jobs, and accessing government services so it’s important you keep it secure. Because it’s issued for life, the Australian Taxation Office (ATO) won’t…
The Australian Taxation Office (ATO) is expected to release its Tax Time hitlist for the financial year ending 30 June 2025 in the coming days. Here’s a breakdown of what taxpayers should keep in mind when lodging their tax return. Below is a summary of the ATO’s key compliance focus areas this year. Work-Related Expenses…
The Federal Budget for the new financial year was handed down on Tuesday, 25 March 2025, introducing a range of tax measures that could impact your next tax return. The Budget delivers tax relief for individuals, introduces notable changes for small businesses, and increases ATO compliance efforts. A key highlight is the reduction in the…
The questions and answers employers need to know about ‘Payday Super’ which starts from 1 July 2026 The Australian Treasury has released details of the Government’s ‘payday super’ measure, which is expected to take effect on 1 July 2026. This new policy will require employers to make superannuation guarantee (SG) contributions on the same day…
Accountants are special people. We perform a special role in your life. Can you imagine the chaos if your friendly and wise accountant didn’t sort out your tax returns, your business and accounting and property issues? What would you do? If all the accountants in your town suddenly went on strike, can you imagine the…
The Treasurer, Jim Chalmers, handed down his Federal Budget for the new financial year on 14th May 2024. The headline measure in this year’s Federal Budget is one we already knew about – individual tax cuts. From 1 July 2024, all 13.6 million taxpayers will get a tax cut, which will flow through into their…
Tax season can be stressful for many people – and this stress can make you more vulnerable to scammers, who strike at the end of the tax year, hoping to gain an advantage at your expense. There are unfortunately many different ways that scam artists can trick both individuals and small businesses from parting with…
Every Tax Time, the ATO focuses on certain hotspots where taxpayers are prone – either accidentally or deliberately – to make errors. So, what is on the ATO’s list this year? Expect them to be looking in particular at: Record-keeping Work-related expenses Rental property income and deductions Sharing economy income; and Capital gains from crypto…
Before visiting CGH Accounting, we’ve made it easy to make sure you don’t miss out on any deductions this tax time. Just use our handy tax checklist to prepare for your appointment with us. CGH Accounting Tax Checklist 2024 If you have any questions, please send us an email or give us a call.
Happy Easter to all of our clients and friends as this is our Easter Newsletter 2024! Easter’s a great time of year in both Ballarat and Torquay – our two office locations. Coming up around here, we have the Ballarat Heritage Festival, which should be both fun and fascinating for families. Ballarat is one of…