Tax - Wardle Partners Blog

Transform Your Accounting Strategy: The Power of Strategic Tax Planning

Transforming Accounting Business Process Through Strategic Tax Planning Most businesses approach taxes with a reactive mindset. They wait until year-end, scramble to gather documents, and hope for the best. This is the accounting equivalent of ignoring all the road signs. You might eventually get there, but you’ll likely face unexpected fines and penalties along …

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How Accountants Can Help Save and Make Money for Your Business in 2023/24

Ways Accountants Can Help Save and Make Money for Your Business in 2023/24

Accounting, Business, Cashflow, Small Business, Tax

How Accountants Can Help Save and Make Money for Your Business in 2023/24 Are you a small business owner looking to increase your revenues and profits? Have you ever thought about how an accountant can help you save and make money for your business? As a business owner, you know that it’s important to keep …

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Super to be Paid on Payday

Tax, Business, Cashflow, Payroll, Small Business

Changes are coming to the way superannuation is paid to employees. Starting from July 1, 2026, you will need to pay your employees’ super at the same time as their salary and wages. WHAT YOU NEED TO KNOW The way superannuation is paid to employees is changing, with the Australian government implementing new regulations. Starting …

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Proposed 30% Tax Increase on High Super Balances Explained

SMSF, Tax

Proposed 30% Tax on High Super Balances The government proposes a 30% tax on high super balances, as announced on February 28, 2023. Starting from July 1, 2025, any superannuation balances above $3 million will be subject to a concessional tax rate of 30% on future earnings. It’s important to note that this proposal has …

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COVID-19 Re-contribution Early Release Super Amounts

SMSF, Tax

Re-contributing COVID-19 Early Release Super Amounts Re-contributing COVID-19 Early Release Super Amounts is a complex process but a great way to grow your super funds. Many individuals have been impacted financially by the COVID-19 pandemic, leading to changes in money management. To provide relief during this crisis, the government opened access to superannuation funds under …

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How to Claim Fuel Tax Credits and Reduce Your Business Expenses in 2023

Business, Cashflow, Small Business, Tax

Claim Fuel Tax Credits and Reduce Your Business Expenses in 2023 If you own a heavy vehicle, you can apply for fuel tax credits to help with the cost of eligible fuels used. We understand that running a business takes hard work, and savings do matter. With the periodic lodgement of fuel tax credits to …

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Maximise Deductions for Self-Education Expenses in 2023

Accounting, Budgeting, Tax

Cutting self-education expenses off your taxable income is one of the best tax-saving strategies available to you. It’s tax season, and as we all know, it can be a stressful time. But this year, taxpayers with self-education expenses have something to look forward to! Starting with the 2023 tax return, the $250 minimum threshold for …

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Sharing Economy Reporting Regime (SERR) Passes New Requirements for EDPs in 2023

Small Business, Business, Tax

If you use online sharing economy platforms such as Airbnb, Uber, Menulog, Airtasker, Freelancer, and Car Next Door, it’s important to be aware of the changes to the Taxable Payments Reporting System (TPRS). Soon, these platform operators will be required to report transaction information directly to the Australian Taxation Office (ATO). As a freelancer or …

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A Guide to Payroll Tax in Queensland

Tax, Payroll

If you are running a business and have employed workers and your weekly total gross wages are over $25,000 you may need to register and pay payroll tax. Each type of taxation has its own guidelines, so you’ll need to discuss your circumstances with your accountants. With this, we’ve created this basic guide to payroll …

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Accountant for Businesses: What an Accountant Can Do for Your Private Medical Practice

Business, Accounting, Tax

When people are asked what accountants do, they frequently mention the responsibilities of tax agents and independent auditors. This only shows how often the functions of professional accountants are misunderstood. Therefore, it is even more important to stress the importance of hiring an accountant for businesses, including private medical practices. The medical field’s need for …

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