by welsh-tax | Nov 29, 2023 | Accounting, Australian Taxation Office, Taxation
With recent interest rate rises and the cost of living on the increase we are witnessing the effect it is having on taxpayers. In our experience many taxpayers rely on tax refunds as forced savings to assist with covering the cost of living. Unfortunately, a blow to...
by welsh-tax | Jun 28, 2023 | Accounting, Australian Taxation Office, Taxation
To set up a MyGov account, you can follow these general steps: Visit the official MyGov website https://my.gov.au/en/create-account/. MyGov is a platform used by several countries, so make sure you’re on the correct website for your country. Look for the...
by welsh-tax | Jun 27, 2023 | Accounting, Finance, Superannuation, Taxation
Tips to minimise your Personal Tax Now’s the time to review what strategies you can use to minimise your tax before 30 June 2023. Imagine what you could do with tax saved? You could: Reduce your home loan. Top up your super. Save for a holiday. Deposit for an...
by welsh-tax | Jun 8, 2023 | Accounting, Superannuation, Taxation, Xero
14 June: Submit and approve Auto Super batches by 14 June to ensure that they are cleared funds in superannuation accounts by 30 June. To be deductible in the 2023 tax year the funds must cleared in Super accounts by 30 June. Due to the volume of super contributions...
by welsh-tax | May 4, 2023 | Accounting, Australian Taxation Office, Taxation
The Australian Taxation Office has changed one method for claiming working-from-home deductions for the 2023 income year. From 1st July 2022 to 28 July 2022, the ATO will accept a representative 4-week diary of your hours. From 1st March 2023, a record of all hours...
by welsh-tax | Mar 2, 2023 | Accounting, Australian Taxation Office, Super Guarantee Threshold, Superannuation, Taxation
If you are a monthly superannuation payer you must pay your super guarantee by the 28th day of the following month. To ensure that super is paid by the due date we would suggest making payments no later than 21st Month that it is due. Jan 28th for December Super Feb...
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