by Financially Sorted | Jun 11, 2025 | ATO, EOFY, Tax & Accounting, Tax Returns
One of the most-claimed work-related expenses each year is a working from home deduction, especially in the last few years. In 2024, more than 10 million people claimed a work-related deduction, and many of those claimed a deduction related to working from home. As...
by Financially Sorted | Jun 11, 2025 | ATO, Business, EOFY, Small Business, Tax & Accounting, Tax Returns
Year-end Tax Planning Opportunities & Risks for Individuals & Businesses With the end of the financial year fast approaching, we outline some opportunities to maximise your deductions and give you the low down on areas at risk of increased ATO scrutiny. For...
by Financially Sorted | Apr 24, 2025 | Business, Land Tax, Small Business, Tax & Accounting
More than 400,000 Victorians who run a small business or an Airbnb from the family home have been hit with hefty land tax bills for the first time as State Government changes, designed to rein in debt, kick in. The family home has always been exempted from land tax so...
by Financially Sorted | Apr 23, 2025 | ATO, Federal Budget, Tax & Accounting, Tax Returns
Any form of tax cut is always a welcome addition, and the personal tax cuts announced in the Federal Budget have now been passed. Although still some 14 months away, from 1 July 2026, personal income tax rates will change. On the last sitting day of Parliament before...
by Financially Sorted | Apr 1, 2025 | ATO, Business, Government Legislation, Superannuation, Tax & Accounting
With a federal election set for 3 May 2025, there are many issues we all need to consider including interest rates, cost of living, immigration numbers and the future direction of the country. Two other key issues to be aware of are the controversial removal of GIC...
by Financially Sorted | Mar 17, 2025 | ATO, Small Business, Tax & Accounting
The ATO has announced that from 1 April 2025, it will be moving around 3,500 small businesses with a history of non-payment, late or non-lodgement, or incorrect reporting from quarterly to monthly GST reporting to improve their compliance. The ATO believe that moving...
