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Business Tips, Ideas & Support Articles

Tax

New Working From Home Deduction Rules – Changes to Recordkeeping

Employees who work from home can claim limited deductions against their personal tax for some expenses incurred at home. The ATO has just changed how you calculate and support those deductions. In short, from now on you must have evidence of your expenses and hours worked from home, even for the fixed rate method.

Business

Inflation Hits Your Profits

When inflation hits your profits, all businesses need to review their costs, their prices and the structure of their business, or risk going backwards.

Tax

How to Vary PAYG Instalments

If you have profit or investment income, the ATO may require you to pay quarterly PAYG Instalments based on the previous year. If conditions change, you can vary PAYG Instalments. Here’s how.

Accounting Terms

Beat Accounting Speak – PAYG What?

We know we talk jargon. For some people all the taxes that start with PAYG merge into one. Here’s an intro to all the Australian PAYGs.

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Accounting

What’s in the October 2022 Federal Budget?

The Federal Budget announced on Tuesday night was the second for 2022, and represents the new Government drawing a line under the previous government’s policies. The Budget itself did not present many substantial reforms or initiatives.