Tax CentR

Tax CentR The focus is on the client with mission to provide quality tax service striving for client satisfaction

Fellow member
Institute of Financial Professionals Australia

New membershipFellow member of Intitute of Financial Professionals Australia
20/06/2024

New membership
Fellow member of Intitute of Financial Professionals Australia

14/06/2024

10 Tax tips for 2024 financial year (FY).

Given the change to marginal tax rates in 2025 (FY) where income will be taxed less and deductions will be worth less than 2024 FY.

1. Know what deductions are claimable
- expenses paid to earn your income that are not of a personal
nature.
2. Prepay expenses in advance
3. Defer invoicing
4. Update work assets
5. Instant asset write off up to $20,000 for ABN income
6. Keep organised records to ensure receipts are not missed
- also good idea to check bank statements to jog memory
7. Consider concessional super contributions to reduce taxation
8. Make $1,000 non-concessional super contribution to receive
maximum $500 govt co-contribution if income less than $43,445
- partial co-contribution on income up to $58,445
9. Write off bad debts for ABN income
10. Use a log book for 12 week period
- may end up a better travel claim.

Address

914 Doveton Street North
Ballarat, VIC
3350

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm
Saturday 9am - 2:30pm

Telephone

+61400824227

Website

Alerts

Be the first to know and let us send you an email when Tax CentR posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Tax CentR:

Shortcuts

Share

Category