Another tax year has come and gone and the team at Roy A McDonald Pty Ltd have put together some checklists to assist you in collating your tax information. Individual Taxpayers Checklist Rental Property Checklist Work Related Expenses Checklist Capital…
The transition from a structured work life to retirement can indeed be daunting, despite financial security. Here are some additional thoughts and strategies that might support you during the transition:: Addressing Identity and Purpose Legacy Projects: Start projects that allow…
If you run your business from home and have a dedicated area set aside as a "place of business," you may be eligible to claim occupancy and running expenses. Here are some key points to consider: Claiming Expenses for a…
Boosting your superannuation is a strategic way to secure a comfortable retirement. Here's a closer look at several methods that can help: Salary Sacrificing Definition: Salary sacrificing involves forgoing part of your salary and directing your employer to contribute it…
It’s now a new financial year so it’s crucial to start organising your records for your 2023-24 tax return. The Australian Taxation Office (ATO) offers various resources, digital tools and services to assist small business owners in managing your tax…
Running a small business can be demanding, and having a tax professional assist with your tax obligations can make things easier. Here are some tips to help you make the most of your collaboration with a tax professional: Maintain Accurate…
In light of the rising cost of living in Australia and ongoing global economic challenges, here are ten actionable financial tips to help you manage your finances more effectively in 2024: 1. Know Your Mindset and Goals Setting clear financial…
Preparing your home for valuation isn’t just about sprucing up the décor. Sure, a scatter cushion here and there and a new piece of art on the wall will make the place look a lot nicer, but unfortunately, it’s not…
Changing rules around tax and superannuation are making quality financial advice more valuable than ever. Due to the shortage of professional planners, advisers are having to do much more work, costing them more money, amid a heavy compliance load following…
STAGE 3 TAX CUTS The Government’s changes to the Stage 3 tax cuts are a key element of the Budget. These changes are intended to broaden the benefit of the original tax cuts, significantly reducing the tax break for wealthier…