Aurum Accountants in Tighes Hill | Accountant

Aurum Accountants

Locality: Tighes Hill

Phone: +61 423 612 385

Address: 21 Margaret Street 2297 Tighes Hill, NSW, Australia

Website: http://www.aurumaccountants.com/

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20.01.2022 Tax accountants: the advantages of paying someone to do your tax Greater tax return There is a potential that a tax accountant, someone who spends all their time studying and dealing with tax law, might have some suggestions as to improving your tax return. Maybe they’re aware of deductions you are eligible for, which you might otherwise have missed. This isn’t cut and dried, you might be well aware of your deduction eligibility. If you’re not certain, however, you might feel... more comfortable using an accountant. Competency of accountants Ensure you’re using a certified accountant, and you can be almost certain that your tax will be completed effectively and without errors. This can be especially important if your tax is more complex than one income and deductions. Save money by eliminating the possibility of mistakes. Complexity of tax return and ‘opportunity cost’ Tax accountants are qualified to deal with capital gains, negative gearing and complex deductions, areas which might be overwhelming for DIY. The concept of ‘opportunity cost’ is also vital as you could potentially better use your own personal time to make money rather than doing a tax return.

17.01.2022 With EOFY just around the corner here’s our TOP TEN TIPS to SAVE YOU TAX! (Part 1) Just take a few minutes to organise your receipts and update your logbooks. We guarantee it will save a lot of pain and anguish at the end of financial year and it’ll help you pay less tax! 1. Keep Good Tax Records ... Keeping good records and receipts is the top way to ensure you claim every expense you are entitled to and that your tax process runs smoothly. A shoe box isn’t such a bad idea 2. Don’t discount the little items Whether or not your deduction is $2, $20 or $200, they all add up over the course of twelve months. Ensure you keep every one of your receipts, no matter how small they are and you will have the best opportunity for maximising your refund. Remember, if you are unsure if you can claim it, keep the receipt and at tax time ask us at BAS TAX AND BEYOND for advice. 3. Claim every dollar of what you are entitled to Claiming deductions is one of the best tools in reducing your overall tax payable. If you have to spend money during the year and it relates to earning your income, then keep the receipt and make sure you claim a deduction for what you are entitled to. Even if you use the item for part work and part personal, you can still to claim an apportioned deduction. If you are not sure whether you can claim a particular item, keep the receipt and ask us later, when you prepare your next tax return. It is better to keep a receipt and not claim it, than to throw it out and find out you could have included it on your return! Doh! 4. Seek the Advice of Tax Professionals Many Australian’s file and lodge their own tax returns each year, utilising only a limited source of tax knowledge they have from both word of mouth and what they hear at the local pub. Did you know that if you were to use a tax accountant for your return you would pay a small fee but receive a much greater return on your tax? It true! Other benefits include: - They will find deductions you never knew existed. - They will help you learn how to organise your files for next year. - The cost of seeing one is tax deductible for the following year. - If you use a tax accountant, filing your tax in July will allow you to not pay any tax that is owing until (usually May) the following year because you are registered with a tax agent. - A good tax accountant will help you understand how to maximise your finances and always be safe and legal in operating under the rules the ATO provide. - Last but not least, its convenient! Get someone else to do the most boring thing you have to do each year!

11.01.2022 After The Block auction left contestants over half a million dollars richer, investors might ask how the luxury apartments stack up as investments.

09.01.2022 With EOFY just around the corner here’s our TOP TEN TIPS to SAVE YOU TAX! (Part 1) Just take a few minutes to organise your receipts and update your logbooks. We guarantee it will save a lot of pain and anguish at the end of financial year and it’ll help you pay less tax! 1. Keep Good Tax Records ... Keeping good records and receipts is the top way to ensure you claim every expense you are entitled to and that your tax process runs smoothly. A shoe box isn’t such a bad idea 2. Don’t discount the little items Whether or not your deduction is $2, $20 or $200, they all add up over the course of twelve months. Ensure you keep every one of your receipts, no matter how small they are and you will have the best opportunity for maximising your refund. Remember, if you are unsure if you can claim it, keep the receipt and at tax time ask us at BAS TAX AND BEYOND for advice. 3. Claim every dollar of what you are entitled to Claiming deductions is one of the best tools in reducing your overall tax payable. If you have to spend money during the year and it relates to earning your income, then keep the receipt and make sure you claim a deduction for what you are entitled to. Even if you use the item for part work and part personal, you can still to claim an apportioned deduction. If you are not sure whether you can claim a particular item, keep the receipt and ask us later, when you prepare your next tax return. It is better to keep a receipt and not claim it, than to throw it out and find out you could have included it on your return! Doh! 4. Seek the Advice of Tax Professionals Many Australian’s file and lodge their own tax returns each year, utilising only a limited source of tax knowledge they have from both word of mouth and what they hear at the local pub. Did you know that if you were to use a tax accountant for your return you would pay a small fee but receive a much greater return on your tax? It true! Other benefits include: - They will find deductions you never knew existed. - They will help you learn how to organise your files for next year. - The cost of seeing one is tax deductible for the following year. - If you use a tax accountant, filing your tax in July will allow you to not pay any tax that is owing until (usually May) the following year because you are registered with a tax agent. - A good tax accountant will help you understand how to maximise your finances and always be safe and legal in operating under the rules the ATO provide. - Last but not least, its convenient! Get someone else to do the most boring thing you have to do each year!

08.01.2022 Can I Claim My Car Expenses Without a Logbook? Have you used your car for work, but forgot car expenses keep a logbook? DONT WORRY! You may still be able to claim work-related car expenses on this year’s tax return. There are 2 methods of claim which may apply:... - Cents per kilometre - 12% of Original Value Method 1: Cents per kilometre - Your claim is based on a set rate for each business kilometre. - You can claim a maximum of 5,000 business kilometres per car, per year. - You do not need written evidence, but you need to be able to substantiate how you worked out your business kilometres. Method 2: 12% of original value - For you to use this method, your car must have travelled more than 5,000 business kilometres in the income year. - Your claim is based on 12% of the original cost of your car, or 12% of its market value at the time you first leased it. - You do not need written evidence, but you need to be able to substantiate how you worked out your business kilometres. Happy Claims!

07.01.2022 Looking to get the best Tax Refund possible? Help Me, Help You. Here are the 8 most under-claimed (legitimate) tax deductions: Log Books: If you drive more than 5000km for work, please ensure you keep a log book for a minimum of 90 days to ensure you can claim the maximum possible deduction.... Home Office: If you spend time working from home in a dedicated home office you can claim 34c per hour. Washing your uniform: If you wear a uniform for work you can claim up to $150 per year for washing expenses without receipts. Accounting Fees: If you paid an accountant to prepare your tax return last year, make sure you include the fee you paid as a deduction this year. Income Protection: If you pay for income protection insurance, you can claim the cost of the premium as a tax deduction. Union or Membership Fees: If you’re a member of a union or a professional body you can claim those registration fees. Technology: Depreciation on your computer, home internet use, taking work calls on your mobile phone all are claimable as long as they’re work related. Tools: Tradies carrying more than 20kg of tools that they can’t keep on site can claim their commute from home to the worksite. With ATO tax rules getting more complex every year, getting all the deductions you deserve and avoiding trouble with the ATO is getting harder and harder. Tip: Keep a diary, spreadsheet or notes on your phone to help you track any expenses/deductions to claim at EOFY.

02.01.2022 With EOFY just around the corner here’s our TOP TEN TIPS to SAVE YOU TAX! (Part 2) 5. Medicare Levy Surcharge If you do not hold a private insurance policy, as soon as your income exceeds $88 000 for singles or $176 000 for families, you will be required to pay a minimum of 1% extra in the form of the Medicare Levy Surcharge. This is on top of the compulsory 1.5% Medicare levy paid by most Australian taxpayers. Often the cost of taking out private health insurance will cost l...Continue reading

01.01.2022 With EOFY just around the corner here’s our TOP TEN TIPS to SAVE YOU TAX! (Part 2) 5. Medicare Levy Surcharge If you do not hold a private insurance policy, as soon as your income exceeds $88 000 for singles or $176 000 for families, you will be required to pay a minimum of 1% extra in the form of the Medicare Levy Surcharge. This is on top of the compulsory 1.5% Medicare levy paid by most Australian taxpayers. Often the cost of taking out private health insurance will cost l...Continue reading

01.01.2022 Tax accountants: the advantages of paying someone to do your tax Greater tax return There is a potential that a tax accountant, someone who spends all their time studying and dealing with tax law, might have some suggestions as to improving your tax return. Maybe they’re aware of deductions you are eligible for, which you might otherwise have missed. This isn’t cut and dried, you might be well aware of your deduction eligibility. If you’re not certain, however, you might feel... more comfortable using an accountant. Competency of accountants Ensure you’re using a certified accountant, and you can be almost certain that your tax will be completed effectively and without errors. This can be especially important if your tax is more complex than one income and deductions. Save money by eliminating the possibility of mistakes. Complexity of tax return and ‘opportunity cost’ Tax accountants are qualified to deal with capital gains, negative gearing and complex deductions, areas which might be overwhelming for DIY. The concept of ‘opportunity cost’ is also vital as you could potentially better use your own personal time to make money rather than doing a tax return.