Your tax file number (TFN) is an essential piece of information in your possession and should be a constant companion throughout your life. However, there are times when a TFN is misplaced or forgotten. What are you supposed to do? If you forget your TFN or lose it, this can be a major issue. A…
Have you recently purchased life insurance? The type of cover, deductibility of premiums and treatment of claims make life insurance a complex topic for tax. It’s a topic that individuals and businesses alike seek assistance from accountants. The deductibility of premiums and treatment of claims payouts can be a complex, nuanced topic. The opportunities and…
It’s coming close to the season of giving, and Australians might be looking to pay it forward to those in need. Making a charitable donation is a great way to round out the end of the year and boost the deductions that you’ll be able to make in next year’s return. It’s also for a…
Australians can experience a range of natural disasters, such as floods, bushfires, tropical cyclones, severe storms and even earthquakes. These events can cause devastation to communities and financial hardship for individuals and businesses. While FBT may not be at the forefront of your mind when helping your employees after an emergency, it can result in…
