Marshall Accountants & Business Advisors in The Gap | Tax preparation service

Marshall Accountants & Business Advisors

Locality: The Gap

Phone: +61 402 261 805

Address: 1297 Waterworks Rd 4061 The Gap, QLD, Australia

Website: http://www.marshallaccounting.com.au

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• Business service
• Tax preparation service
• Accountant
• Business consultant

19.01.2022 TAX DEDUCTIONS FOR ADF PERSONNEL | With tax return season just around the corner, the ATO have released a one-pager summarising the work-related expenses that CAN and CAN'T be claimed by ADF members. This is a useful reference to help maximise tax deductions whilst staying within the law. If you have any questions, please get in touch. https://www.ato.gov.au//js39108_D%20-%20WRE%20digital%20po

18.01.2022 A bit to digest from the Budget this evening - small businesses again winners with the instant asset write-off proposed to increase to $30k.

15.01.2022 LOW AND MIDDLE INCOME TAX OFFSET We are getting a huge number of questions about the $1,080 tax offset that was marketed heavily during the election and now by the media. Unfortunately, this isn't a free "tax refund" as some people have led the public to believe. The amount of the offset is based on your taxable income and it goes to reduce any tax you owe. So to receive the benefit of the offset, you must be liable to pay the tax in the first place. There is a very good explanation of how it works on the ATO website, or alternatively get in touch and we can help you work out how it may apply to your circumstances: https://www.ato.gov.au//Off/Low-and-middle-income-earners/

14.01.2022 As the end of the tax year approaches, we would encourage our clients to make use of the free ATO app to keep track of their tax record-keeping. The app uses the camera on your smartphone and files expenses into the right tax deduction category. It can also be used to track the kms for work-related car journeys. When you are ready to have your tax return done, you can forward all the information to us. If you have any questions about how to use the app, please get in touch.

14.01.2022 ATO SMALL BUSINESS TAX GUIDANCE | Important reading! Here is the link to the latest ATO guidance for small business tax. It includes the Top 3 areas that the ATO focus on during their compliance work. https://www.ato.gov.au//Tax-time-tips-for-small-business/

11.01.2022 Very helpful article from the ADF Financial Consumer Centre covering the rules around home office tax deductions during COVID19. This will be relevant for many of our Defence clients in the upcoming tax season.

09.01.2022 TAX AND THE SHARING ECONOMY | Do you use Airbnb to rent out part of your house? Or do some casual driving for Uber on the side? The ATO is starting to focus on these types of arrangements to ensure that taxpayers who take part in these activities pay the right amount of tax. This includes sending letters to people who have failed to include income in their tax returns. The below link includes a helpful ATO video which introduces the topic. If you have any questions about what you need to do this coming tax season, please get in touch.

02.01.2022 Some helpful guidance from the ADF Consumer Centre with Tax Time just around the corner. We are DEFENCE TAX SPECIALISTS - get in touch to see how we can help you. https://adfconsumer.gov.au/its-tax-time-the-top-10-tips/