Australian business owners can avoid the Medicare Levy Surcharge by holding private hospital cover for the full financial year, staying aware of income thresholds, and managing taxable income effectively. The surcharge is an extra tax levied on individuals and families who earn above certain annual income levels and don’t have private hospital insurance. Failure to…
Year: 2025
How Much Medicare Levy Do You Actually Pay? (A Simple Guide for Australian Business Owners)
Understanding how much Medicare Levy you actually pay is essential for managing your business finances and planning your tax obligations. Many Australian business owners find themselves confused about calculations, income thresholds, and potential surcharges. We want to make this simple so you can stay confident about exactly what you owe.The Medicare Levy helps fund Australia’s…
Australian Small Business Tax Thresholds: How Much Can You Earn Before Paying Tax?
Choosing the right strategy for how much you can earn before you pay tax is a big part of managing any small business in Australia. Many owners want to know the tax-free threshold and the exact amount they need to start paying tax each financial year. Understanding the requirements from the Australian Taxation Office (ATO)…
How Long Should Australian Small Businesses Keep Tax Records? (2025 Guide)
How long to keep tax records remains one of the most common compliance questions for Australian small businesses in 2025. Understanding clear record keeping requirements protects your business, keeps tax time stress-free and ensures you can claim every eligible expense. This guide from ACT Bookkeeping covers everything you need to know—whether you’re using paper records,…
