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Thanks for this! Sorry if this is a simple question, but is GST separate to company tax, or part of the 25%?

Hello Wattle Accountants Australia, I have a general enquiry. To help you understand what I am trying to say, I will give you an example Example Scenario: Suppose I have $60,000 of unused concessional contributions from the last five years, and my total superannuation balance was less than $500,000 as of 30 June 2024. I also made the following contributions: $5,000 in concessional contributions from my employer $40,000 added to my superannuation from my personal savings account Based on the example above, do you think $85,000 is the maximum I can claim on my return for concessional contributions? Please help me 🙏🙏🙏

hi, thanks for sharing. Actually, I'm a foreigner. Can I still work for a local construction company while I want to register a builder company for small works such as build, repair resident house in Australia? I'm looking forward to your instruction soon. Thank you.

I have a question. A doctor who goes to dubbo from Sydney, stays overnight for few days. Can he claim food and lodging ?

Thank you very much for this. You made really simple and easy to understand.

Thanks very much

if i have a holiday home that is rented out for 100% of the year is everything on my end of financial year summary fully tax deductable?

EXTRA TIP for anyone operating their business or just their admin from home... as soon as you have your ABN - get yourself a post office box from your local Australia Post shop before you register your business name. That way you can use a PO Box address for business registration, instead of your home address ... otherwise, your full name and home address is available (together) to any random person on the internet who looks up your name or ABN or business name. If already registered, you can always get a PO Box and update your business registration details at any time.

Absolutely amazing video, nice and straight to the point. So very helpful, thank you.

Great video thanks

Hi mate, What is the rate of company tax in Australia & please tell me detail, if possible

3 x 48 x 1 = 144

Hello, can I ask a question? If I’m paying cash wages and withdrawing from my business account. It comes up on the “ wages “ account in zero. Do I have to set up payg or pay tax on these cash wages? I wanna do the right thing but I am confused . Thank you!

Great video! Thank you

I'm confused, isn't the employer already paying you $320 for the work related travel? Is the issue that you will get taxed on that $320 unless you explicitly claim these expenses, even if you have no receipts?

great video! thank you

What fees are involved with adding personal assets into the trust?

Thanks for the informative padcast

Hi there, I’ve been working as an independent support worker and using a free website to create invoices. I’m looking at doing my tax return now and just a bit stuck. Can I just send all of my invoices to my accountant and he can get a group certificate ready for me and then do my tax return or do I need to prepare something? When I go on to my mygov/ato page, there’s nothing that shows up regarding my earnings so I’m assuming I need to upload something?

I am interested

Thanks

Thanks for the advice mate. Appreciated.

This is very helpful thank you!

Thanks, like you simple straightforward answers. One negative thing is high land tax surcharge applied to trust, unless we nominate any of the property in the trust as the principal place of residence (provided living there), then do we get 100% or 50% captain gain tax discount? If you have investment properties in trust and if it's negative balance (after minus expenses from rent) do you still need to lodge every year? Or lodge it when you do make income which is high enough to offset all the loss from previous years and create positive income?

In addition to these, I'd also recommend InvoiceBerry. I've been using it for four years now and have never had any complaints. It provides simple processes, templates, and everything I need for efficient invoicing and financial management.

I've tried Xero and QuickBooks before, but I ran into problems with their complex features and high costs. That's why I made the switch to InvoiceBerry. It's much easier to use and more affordable for managing my invoices.

Thank you! Very informative video

Thank you!

Hi there, My partner is going to do support work as part of my NDIS plan. They current earn $90k in their current employment (PAYG) and will be doing support work as additional income. Would they need to register for GST for this additional income? How does it effect their tax status?

This is so useful. I'm very new to all of this. I plan to start as a solo business person for my TH-cam and online ventures and would love to know more info on how to structure it.

Sounds like the Rode chick asking the questions.

Very good video!

Thank you. One of the benefits of this arrangement would appear to be the ability to pay the minimum divedend to ensure youre personal taxable income is taxed at less than 25%?

Very clear and concise video thank you

Is it necessary to have a separate bank account for the business?

Hi how are you you can give me visa i am work now in Fiji before i work in Singapore

What about if we have to take the client to a event like a movie ticket, parking ticket, leisure center for swimming. Are these expenses of entry for the support worker tax deductible?

Of all the structures, which one is best ?

Thank you for this video. This helped immensely to understand how things work 😊

So as a Soul trading support worker when I have meals out and about with my clients when they want to grab lunch for example it is not considered tax deductible?

Very informative video, thanks for sharing! If you don't have receipts, would a bank statement be sufficient?

Total income is gross or taxable income?

Very helpful thank you!

for a foreign company subcontracting with an Australian contractor, is it required to incorporate in Australia and get a tax number?

Awesome!

Hi. Thanks for the content. Can an offshore company be listed as a beneficiary of a trust in Australia?

Hello Craig, I have just finished watching 37 of your videos, they were super informative. I was wondering if something like NIES is advised for a new business or advised against, especially by someone as yourself, that has extensive knowledge of the subject. Video idea maybe?

I am considerably more confused. So the company tax rate is 25% and pays income to the director and potentially my spouse, who then pays income tax. But everyone keeps saying it’s a way to minimize tax. Even tho the money is being taxed twice. What am i missing.

There is no video on ur play list about opening ABN for Unincorporated group.

Hi Craig, I do Uber delivery driving and I've ticked over 5000km in total since the beginning of the financial year. I have not collected any receipts for fuel up until this point... Do I only need to show receipts past 5000km or was I meant have receipts for the entire 5000km? Thanks