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GST = Goods and Services Tax

Jun 06, 2022

It’s that good, we have to tax it. 

GST means goods and services tax. It's a 10% tax applied to most products and services in Australia. This is a tax that is designed to tax the end consumer. It’s almost like when you register for GST you work for the ATO, because you start...

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ADELAIDE FRINGE ARTISTS

Jan 18, 2022

 This is me! Maybe it’s also you? 

There are so many beautifully unique people coming to Adelaide each year for the Adelaide Fringe; performers, producers and support crew from all over the world. Hopefully you make some money while here, but what happens when it comes to tax?

...

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Director ID

Jan 18, 2022

 Everyone has a Tax File Number (TFN), and some have an Australian Company Number (ACN) or Australian Business Number (ABN) but now some people are also going to need a Director ID Number. So many ways to identify you!

 

WHAT

This is a new thing, launched 1 November 2021. It will be a...

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How To Save For Tax

Jul 14, 2021

How to save for tax

We often welcome new clients to The Real Thiel family that have a few outstanding tax returns to lodge. The first step to being on top of tax is to get everything lodged, and then to pay the ATO everything they’re owed. Clean slate.

When you have a tax bill to pay, this...

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Personal Services Income

Jul 07, 2021

Personal Services Income

This question is in everyone's tax return, and you have to answer it… correctly!

“Did you receive any personal services income?” 

 

People often get stumped by this one, but the main thing to remember is that it’s not necessarily a...

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10 Ways to Make Big Decisions

Sep 02, 2020
  1. Pros and Cons List
    Classic - this has to be the most common way of making big decisions. We draw a line down the centre of the page and start noting the pros and cons of the decision. 

  2. Take Time
    Some things need an urgent response but if you can give yourself even just a few days it might...
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Travel Expenses

Aug 24, 2020

Oh the places you’ll go! 

Your job or your business activities might require you to travel nationally or even internationally. These trips come with added expenses, so it is important to understand what records to keep and what you might be entitled to deduct at tax time.

What are...

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COVID: JobKeeper 2.0

Aug 11, 2020

***updated 25 Sept 2020***

Who would have thought we would still have people in isolation in August, and be discussing JobKeeper extensions? I certainly had expected the world to be in a better position by now.

Alas, here we are... but thankfully there is some help continuing with JobKeeper...

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Entertainment... is it deductible?

Jul 18, 2020

Let me entertain you! 

What is Entertainment?

According to the ATO, you can provide entertainment by way of food, drink or recreation. Any accommodation and travel connected to the provision of food, drink and recreation is also considered to be entertainment.

Generally entertainment...

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Buying a Car, Deductions and Fringe Benefits Tax

Jul 18, 2020

In a previous blog on car expenses, we touched on buying a car in your company and possible FBT (Fringe Benefit Tax) implications of providing cars to your employees. Let’s jump in and explain it in more detail.

Is a car an asset?

Yes, a car is considered an asset to your business (even if...

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