How Can I Save on Income Tax in 2025?
What Tax Planning is and how it can help reduce your income tax and help with achieving your financial goals. Read More…
The Latest from Aegis
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Do We Need to Pay our Staff if We Shutdown During a Natural Disaster?
Natural Disasters can be a scary and confusing time, causing devastation to businesses, individuals and communities. If you have opted to shut down your business during a Natural Disaster, you need to check if you are required to pay your staff. Read More…
Attention Small Business Owners: New Wage Compliance Laws Are Now in Effect
Did you as a small business owner (less than 15 employees) know that from 1st January 2025 – it is a criminal offence if you intentionally underpay staff.The ATO have issued the Voluntary Small Business Wage Compliance Code and Fair Work have published a guide that sets out the code and offers practical advice and tools. Read More…
A New Year, A New Challenge: Double-Check Your Bookkeeping Dates for 2025
As we begin 2025, be mindful of misdating transactions, such as entering them as January 2024 or December 2025. This can lead to financial errors and tax issues. To avoid this, lock prior year files, double-check dates and watch for future-dated entries. Staying vigilant ensures accurate and compliant bookkeeping throughout the year. Read More…
Preparing Payroll for the Holiday Season: Tips for a Stress-Free Transition
With public holidays and festive cheer around the corner, it’s time to ensure your staff gets paid on time—even if the banks don’t! We’ve got tips to help you avoid payroll headaches and keep your team smiling this season. Read More…
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Are Christmas Gifts Tax Deductible?
🎄🎅As we come into the “silly season” let us share with you the rulings on what the ATO will consider a deductible expense and what they won’t.🎄🎅 Read More…
Protect your MyGov account against scammers!
TLDR: update your sign in settings to only the MyGov username. In this blog, Tori shares her personal experience with an attempted hacking. Read More…
Take action now on unpaid Tax and Super
The Australian Taxation Office (ATO) is changing its approach to collecting unpaid tax and super, focusing on businesses that have not responded to reminders. If your business has overdue obligations, it’s crucial to act now to avoid serious consequences. Read More…
Feeling confused about payroll changes?
The new financial year means new tax rates; increased superannuation guarantee rates; minimum wage increase and award rates increases. But
when do they all apply?
There are a lot of questions floating around on social media about when the new tax withholding, super & award rate increase apply. What
happens if the days worked in the pay week splits across the end of financial year?? There’s also a lot of incorrect information being
provided and a lot of guess work.
Read our Blog for the correct information.
Read More…
Instant Asset Write Off Threshold is $20,000 for the 2024 Financial Year
Finally, with only 3 business days left of the 2024 financial year, the Australian Parliament has passed the bill to legislate the
increase in the Small Business Instant Asset Write Off from $1,000 to $20,000 for the period 1 July 2023 to 30 June 2024. We are now just
awaiting “Royal Assent” for this measure to become law. Royal Assent these days is pretty quick and is essentially a rubber stamp
process. This measure was announced in the May 2023 budget and has taken more than a year to pass through both houses of government.
Read our blog to find out what this means for your business.
Read More…
Federal Budget 2024/25 - Highlights on a page
Last night was the Federal Budget announcements, our friends at Tax Nuggets have compiled this summary of the 2024/25 budget items which look to affect small businesses and individuals. Note that some of these changes are not yet law. Read More…
Should I Take Up The Audit Insurance Offered By My Accountant?
In May each year, Aegis Business Services, through its audit insurance provider, Audit Shield, offer our clients, for whom we are the
nominated tax agent, to be covered by our audit insurance policy.
Read our blog to find out more about audit insurance and whether you should take up the offer. Our previous blog also includes two case
studies about a couple of recent ATO audits we’ve assisted our clients through.
Read More…
With the increase in ATO audit activity, we have put together a couple of case studies around recent audits we have helped our clients through. Have a read on our blog. Read More…
Understanding Tax Planning: More than just minimising taxes
In both personal finances and business management, tax planning is a vital practice that goes beyond simply reducing tax bills. While minimising taxes is important, tax planning involves a more holistic approach aimed at optimising financial efficiency and aligning with long-term financial goals. Let's delve into what tax planning really entails and its broader implications: Read More…
The ATO is Not All Sunshine and Rainbows
Have you received a letter or notice from the Australian Taxation Office (ATO) with a big coloured band across the top? Read More…
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What the ATO will consider a deductible expense and what they won't. Read More…
Understanding Super Guarantee Employer Obligations in Australia
Helping both employers and employees understand their rights and responsibilities. Read More…
I Want to Claim a Tax Deduction for my Car. What records do I need to Keep?
Are you considering claiming car expense deductions under the log book method against your employment or sole trader business income? Here
are some key requirements for this type of claim.
Read More…
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What is Capital Gains Tax and could you be liable?
Have you sold any assets? Could you be liable for Capital gains tax? Read More…
REMINDER - Do you need to do a stocktake on 30th June 2023?
If your business buys or sells stock, you may need to do a stocktake for tax purposes. Understand how a stocktake can help your business and how to do one. Read More…
LAST MINUTE TAX DEDUCTION OPPORTUNITY
The Small Business Technology Investment Boost was only passed a few days ago so has not been considered in our tax planning estimates, if this applies to you then WINNER! Read More…
What is in the ATO’s “sights” this 2023 tax time?
Each year, the ATO takes a closer look at various areas and focus their audit activity there. For the 2023 financial year, the ATO has shared what its key focus areas are:
- Rental property deductions
- Work-related expenses; and
- Capital gains tax.
What should I do to prepare my business' books for tax time?
June is the perfect time to arrange a bookkeeper to clean up and overhaul your business' accounting file ready for your tax accountant to either do tax planning before the end of financial year, or be able to prepare your June quarter BAS and tax returns easily. Plus, by organising a clean with a bookkeeper and paying the fee before the end of financial year, you can claim the fee as a tax deduction this year! Read More…
Tips for getting ready for the EOY 2023
As the 2023 financial year comes to a close it is important to start thinking about your tax planning strategy. We have outlined some simple steps to take that could potentially save money on your tax bill and ensure there are no hidden surprises. Read More…