Read our latest insights on bookkeeping for small businesses
Essential Tax Tips to Save Money This Financial Year

This guide will provide you with tax-saving strategies such as maximising your deductions and reducing your taxable income. By the end, you’ll be equipped with the knowledge you need to take control of your finances.

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Understanding Debt Taxation and What Every Business Owner Needs to Know

With the right approach, you can manage your debt and tax liability to maximise benefits. In this article, we’ll break down the tax applications of business debt and offer practical tips to optimise your tax position and help you steer clear of costly mistakes.

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Capital Gains Tax on Inherited Property: How to Reduce What You Pay

Inheriting property is a complicated experience. Amidst the grief, there are also significant financial responsibilities to consider. One of the most important is understanding the tax implications, particularly when it comes to capital gains tax (CGT). Without proper knowledge, you could end up paying more tax than necessary when you eventually sell the property. However, […]

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How to Avoid Death Tax on Superannuation

Superannuation is a valuable tool for building retirement savings. However, it doesn’t always go to your loved ones tax-free when you pass away. In fact, adult children and other non-dependents can face a hefty tax bill of up to 32% on the taxable portion of your superannuation balance. With the right strategies, you can minimise […]

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The Small Business Income Tax Offset Explained

The small business income tax offset is a valuable tax relief measure designed to reduce the tax burden for small business owners like you in Australia. By taking advantage of this offset, you could lower your tax liability and potentially pay less tax overall. In this post, we’ll walk you through what the offset is, […]

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Small Business Tax Rate: How Much Tax Does a Small Business Pay in Australia?

Running a small business in Australia means managing day-to-day operations, looking for new opportunities, and working to grow. The last thing you want to do is spend hours trying to figure out the tax rate for a small business or whether you're taking advantage of all the deductions you're entitled to. This blog post will […]

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Are Legal Fees Tax-Deductible? Learn Which Lawyer Fees You Can Deduct

If your business has to pay legal fees, you might be wondering if you can deduct them from your taxable income. In the last year, 1.8 million taxpayers claimed deductions on legal expenses – so the short answer is yes. However, the Australian Taxation Office (ATO) has specific guidelines on which legal fees are tax-deductible […]

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Podcast: Business Tax Insights from a Tax Accountant

Darcy Bookkeeping & Business Services' very own tax accountant Brad Reynolds recently appeared on the Your Number Man podcast. He shared his expertise with guiding small businesses with their tax structures and tax accounting best practices. In this episode, learn about business structures (like sole traders, partnerships and incorporated companies), GST, maximising tax structures and […]

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How to Calculate GST in Australia

Use our free Australian GST calculator tool to work out the amount of GST that must be applied in your transactions. Want to know how to calculate GST on the go? Read on for the easy formula. GST Calculator GST Calculator Enter Amount: Add GST Subtract GST Total GST: Copy result Amount + GST: Copy […]

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Director's Loans From a Company – What You Need To Know

As the director of a company, you might consider a director’s loan (also called a shareholder loan) when you need money urgently but are unable to get a loan from the bank. You may consider taking a dividend from your company but this may not be possible if your company is not profitable. You might […]

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