Tag: business

How to pay off HECS debt through payroll starts with one practical rule: employers do not track an employee’s loan balance, but they must record the employee’s declaration and withhold the correct Study and Training Support Loans (STSL) component through payroll. For many Australian employers, the challenge is knowing what to record, when to update…

How to claim tax return for a small business starts with accurate bookkeeping records that show your business income, expenses, deductions, and the details needed to work out taxable income for the financial year. Many business owners think tax time is only about finding a tax refund, but the real process begins with checking whether…

How To Calculate Capital Gains Tax: Bookkeeping Records to Keep When Selling Business Assets is about keeping the right records so Capital Gains Tax (CGT) can be reviewed properly when a business asset is sold. Clear bookkeeping helps your accountant check the capital proceeds, cost base, capital losses, taxable gain and possible net capital gain…

How Your Business Remuneration Strategy Affects Medicare Levy Surcharge Exposure matters because the way you pay yourself can affect whether you pay the Medicare Levy Surcharge. For business owners, the issue is often not just taxable income, but the mix of salary, reportable benefits, family income, investment losses, and other amounts counted for Medicare Levy…