Tax returns

Tax planning is a key exercise for businesses and individuals looking to reduce their tax bill. There is no magic brush that works for all businesses and we take the time to carefully consider each clients circumstances and offer a tailored plan to manage their tax. Common tax planning solutions include, asset acquisitions, prepayments of available expense and profit sharing if the entity structure allows it.

You can claim the use of a personally owned car if it is used for work purposes. The two main methods for claiming car expenses are the log book method and the cents per kilometre method. The logbook method works best if you use your car predominately for work purposes while the cents per kilometre method is a simpler, less intensive way to claim your motor vehicle deduction.

We offer a fully integrated accounting and tax package that can be tailored to your circumstances. We’ll be responsible for the day-to-day bookkeeping, BAS preparation and EOFY compliance, as well as business strategy days and frequent management/budget meetings—this way you can focus on running the business whilst we take care of the rest!

The recent events of the world have seen a large number of people working from home, claiming these expenses can reduce the amount of tax you pay. There are a number of ways to claim these expense and you can choose the method that suits your circumstances. The methods to choose from include the: Fixed rate method An amount per work hour for additional running expenses plus expenses not covered by the fixed rate, the current rate is $0.52 per hour. Actual cost method The actual expenses you incur as a result of working from home, this includes depreciation assets, consumables, phone and internet, cleaning and electricity expenses. Shortcut method An all-inclusive rate of $0.80 per work hour, only available from 1 March 2020 to 30 June 2022