Tax News and Updates

Stay updated with the latest tax news, expert tips, and tricks to maximise your returns. Explore our blog for insights on tax strategies, property investment, and more.

Irene Watt

New data shows cost of living savings are top of mind this tax season

Australians plan to save their tax returns this year despite not knowing nor actively planning to maximise what they receive, according to TaxTank

New research from cloud-based tax software TaxTank reveals over half (56%) of Australians find tax time stressful, with the notion of missed deductions causing the greatest degree of anxiety.

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Irene Watt

How to maximise your tax return using myTax

When it comes to tax time, only around one in four Aussies choose to lodge their own tax return. Because the ATO receives around 10 million tax returns every year, that means 7.5 million people don’t trust their own ability when it comes to lodging the best tax return possible.

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Irene Watt

What’s on the ATO hitlist in 2022? Car claims!

If you use your car for both work and private purposes, you can only claim the percentage of car expenses that relate to work. For example, if you travel 100 km in a day and 50 km of that is for work, you can only claim 50% of your car expenses.

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Irene Watt

Local accountant creates software to help everyday Australians pay less tax

A Gold Coast tax accountant is saving Australians time, stress and money at tax time with a new low-cost, easy to use tech software, TaxTank.

The cloud-based Software-as-a-Service (SaaS) platform transforms tax management and the end of year tax return into an automated, stress free process to help individual taxpayers claim their fair share of the billions refunded each year.

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Irene Watt

Top 5 random deductions you can claim

Many Australians miss out on tax deductions every year, simply because they are unaware of the possibilities. This is understandable because some of the potential deductions you can claim are actually pretty random and out there!

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Irene Watt

How to beat the ATO at their own game

Most people remain unaware of their financial position and wait until the end of the financial year to start thinking about their tax return, which gives the ATO a really unfair advantage. Here’s how to beat the ATO at their own game.

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Irene Watt

5 steps to building a successful property portfolio

A successful property portfolio doesn’t happen overnight, but with a great plan, a solid strategy and ongoing review of your circumstances, your property portfolio can secure your financial freedom. Here are our 5 steps to building a successful property portfolio!

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Irene Watt

How to choose the accounting software that’s right for your firm

No two accounting firms are the same; they all have different business values, different goals, and different ideal clients. So how do you choose the accounting software that’s right for your firm? Fortunately, there are some must-have features that will boost business at any accounting firm regardless of size, clientele or budget.

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Irene Watt

The top 5 deductions property investors must not miss out on

Knowing which deductions you can claim each financial year is the key to maximising the profits from your investment property. If you’re feeling confused and overwhelmed because your rental properties aren’t performing as predicted, then it’s likely you’ve been missing out on some important deductions!

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Irene Watt

How to deliver exceptional service to your individual clients

Delivering exceptional service to your individual clients is difficult because they tend to pass through but once a year… However, exception service is the foundation for long-term growth and profitability for accounting firms so we all need to get better or risk losing more and more clients to the ATO’s MyTax.

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Woman holding a small house toy to explain negative gearing
Irene Watt

Negative Gearing Explained

When it comes to property investment, the tax benefits are seemingly endless! This is because the Australian government wants to reward people who invest in real estate, and it makes

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