All residents of Australia are required to declare all the income that they earn including foreign income. The ATO is on the lookout for people who have been trying to hide foreign income so as to avoid taxation. If you get income from overseas in the form of investments, employment income, or from relatives, you[…..]
Nonetheless, irrespective of the amount of money you will make as a food delivery driver from Uber Eats, Menulog, Deliveroo, DoorDash or any other food delivery company there is a legal requirement to declare the income to the ATO. If you need any assistance, Accurate Business & Accounting Services is here to help you. Food[…..]
Are you among many taxpayers who are worried because they did not get a PAYG summary? Today is your lucky day as we want to clear this up. You can rest easy as it is not necessary to have a PAYG to do your tax return. In this article, we will discuss all that you[…..]
Have you been looking for your Tax File Number and cannot seem to trace it? This can be a scary moment as the TFN is used for tax purposes. The Tax File Number is issued by the ATO and will be required to complete a number of applications. If you want to apply for an[…..]
According to ATO Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia. Is it compulsory for all businesses to register for GST? Not all businesses need to register for GST. Businesses with annual turnover of $75,000 or more must register for[…..]
There are so many medical experts who offer a wide range of medical services in Australia. Some of the common ones include nurses, physicians, dentists, pharmacists, orthodontists, and general practitioners. These are professionals who are expected to lodge tax returns as well. However, there are so many tax deductions that can be claimed by the[…..]
The government of Australia expects everyone who earns money to lodge a tax return annually. For most people, this is a stressful experience and most people end up missing deadlines. Tax returns affect businesses as well and there is a deadline set by the ATO. If you have a company in Australia, you need to[…..]
Taxation is one of the areas that give most people a serious headache. As such, the majority of the population will try to find a professional to handle the tax return. If you choose to do the tax returns on your own, you may end up missing some key details and may lose tax deductions.[…..]