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Rental Properties

Melbourne Tax Advisory is now located in Mount Waverley!

If you’re looking for a tax accountant in Mount Waverley, Melbourne Tax Advisory is here to assist. We are located at 1 Ricketts Road Mou...

17.6 billion stimulus package announced

The Australian government has announced a 17.6 billion economic stimulus package.

Xero Accounting: Why we love it!

At Melbourne Tax Advisory we are all about Xero. Cloud accounting software has revolutionised the way we do business. Below is a list ex...

Accounting for Small Business Start-Up

Working hard on something you love becomes business success. However, it doesn’t necessarily mean you love balancing the financials. Acco...

Non-Compliant Payments

From the 2020 income year, a business taxpayer cannot claim a tax deduction for a payment that it makes to a worker — whether an employee...

ATO targeting non-disclosure of foreign income

The ATO has its sights set on undeclared foreign income, it now has access to financial account data from over 65 foreign countries. The ...

Directors liability for GST set to pierce corporate veil

Last month a bill was introduced that could see the commissioner be allowed to collect estimates of anticipated GST liabilities and make ...

Common Rental Property Mistakes

Whether you use an Accountant or choose to lodge your tax return yourself, avoiding these common mistakes when lodging a tax return with ...

What is Division 7A?

You may have heard your accountant mention the words ‘division 7A’ to you. It is an area where people struggle to fully understand and ca...

The time to Tax Plan has arrived!

The end of the financial year is just around the corner. It’s a great time to assess your expected taxable income for the current financi...

Federal Budget Updates 2019-20

Personal income tax plan The Government announced an introduction to amend the legislated personal income tax plan. · Amendment to the low...

February Tax Updates

STP to cover all businesses as legislation passes The extension of Single Touch Payroll (STP) to employers with 19 or fewer employees has...

January Tax Updates

Instant asset write-off threshold upped to $25K The government is looking at increasing the small business instant asset write-off from $...

December Tax Updates

Property investors marked a high compliance priority About $45 billion in rental expenses were lodged to the ATO last financial year, pus...

First Home Super Saver Scheme

The First Home Super Saver Scheme (FHSS Scheme) was introduced by the Australian Government in the Federal Budget 2017-18. The Super Save...

Claiming deductions for Motor Vehicles

There are two types of motor vehicle deductions permitted to be claimed by the ATO, the cents per kilometre method and the logbook method...

Tax Rules for Working Holiday Makers

The working holiday maker program allows young adults from 18 to 30 from eligible partner countries to work in Australia while having an ...

Taxable Payment Reporting now extends to Cleaners and Couriers

If you run a cleaning or courier business you will need to start lodging taxable payments annual report (TPAR). This will give the detail...

What is Single Touch Payroll?

Single touch payroll is a payroll reporting requirement introduced by the ATO. If you had 20 or more employees on the 1st of April 2018 y...

New depreciation rules on residential property!

In the 2017 Federal Budget there was a proposal to change the deductions available for second-hand depreciating assets, these proposed ch...

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