Christmas and Tax
December 2024 Newsletter This month’s newsletter is packed with helpful articles for the festive season and beyond. As year-end celebrations approach, our first article explains the tax rules around Christmas expenses for business owners. We cover FBT, GST credits, and what’s tax deductible, so you can avoid any surprises. Next, we explore claiming self-education expenses. While these […]
How taxable is that side hustle?
November 2024 Newsletter This month’s edition of our client newsletter includes an article on whether income from ‘side hustle’ activities are subject to tax. This article provides a brief summary of the types of side hustles that exist, whether such activities are considered a business or a hobby and the tax issues to consider if […]
Making contributions later in life
October 2024 Newsletter This month’s edition of our client newsletter includes an article on making contributions later in life. Changes to superannuation laws have been simplified over recent years to allow older Australians more flexibility to top up their superannuation. This article provides a brief summary of what you need to know about making contributions […]
Who is a spouse under the tax laws, and why does it matter?
September 2024 Newsletter This month’s news edition of our client newsletter includes an article on who is a spouse under the tax laws and why it matters. Whether you have a spouse or not can impact your individual tax assessment with the ATO as your spouse’s income can impact your eligibility for certain tax rebates […]
7 benefits of using a tax accountant
Taxes and tax returns – one thing is for certain, they come along every year. The team at Colledges is here to help you tackle those tax forms that can look like cryptic crossword puzzles, and to find deductions that you didn’t think were possible. We make sense of tax time with plain English, so […]
The Importance of “Tax Residency”
August 2024 Newsletter This month’s edition of our client newsletter includes an article on the importance of “tax residency”. Whether you are a tax resident of Australia or not can have significant consequences for you so if you find yourself in any such circumstances (eg, you undertake a foreign posting for a period or you […]
Division 293 tax – will you be caught?
July 2024 Newsletter This month’s edition of our client newsletter includes an article on the extra 15% “Division 293 tax” which applies to high income earners who have income and concessional superannuation contributions exceeding $250,000 in 2023/24. The article explains how the extra tax works and how you can pay for it if you’re liable. This […]
Let’s talk about death and taxes with Angelo Sirianni, Partner at Colledges
There are two things certain in life – death and taxes. In this article, we talk about both. We interviewed Angelo Sirianni, who is a Partner at Colledges, about why it’s essential to have that sensitive conversation with your family. We know it’s not an easy subject and we’re here to help you work through […]
Stage 3 tax cuts – a tax saving opportunity?
March 2024 Newsletter This edition of our client newsletter features a run down on what taxpayers can do to maximise the benefits of the Stage 3 tax cuts that have recently been passed by Parliament. It explores some options for shifting taxable income from this year (2023-24) to the next (2024-25) by bringing forward deductions […]
Are you tax-time ready in 2023?
Whether you’re getting organised for an individual tax return or a business tax return, the more preparation you do before heading in for an appointment with your accountant, the more time you’ll save and ultimately the better your tax return will be. Tax returns require you to have a handle on two essential things: money […]