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Monday 9:45am - 5pm Tuesday 9:45am - 5pm Wednesday 9:45am - 5pm Thursday 9:45am - 5pm Friday 9:45am - 5pm

York Accounting Tax Advisory

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Australia
Cheltenham, VIC
York Accounting Tax Advisory

We are happy to assist you and your business in tax issues and accounting challenges.

09/12/2025

Wondering about Medicare amounts on your latest tax return? The Medicare levy is a 2% compulsory charge to help fund the public healthcare system, and it's usually taken from your pay, so you mightn’t notice it until tax time. Having private health insurance won’t get you out of paying it. The Medicare levy surcharge (MLS) is a different, extra charge for higher-income earners without private health insurance, designed to nudge them towards private cover to ease the public system load. If your income’s over certain amounts and you're not covered, you pay the MLS.

02/12/2025

Family Tax Benefit (FTB) is a government payment to help families with the cost of raising children. Despite its name, it’s not a tax refund or tax deduction – it’s a social security benefit to help with everyday costs like food, education, clothing and other child-rearing expenses. Importantly, FTB is paid by Services Australia (through Centrelink), not the ATO.

25/11/2025

Good news for investors! The ATO will automatically refund franking credits to eligible individuals during tax time 2025 - no application needed! Are you over 60 with dividends under $18,200? You might qualify for an automatic refund straight to your bank account from mid-July. Don't qualify? No worries - apply online in just 2 weeks or call 24/7. Keep those dividend statements handy! This could be a game-changer for eligible retirees and investors.

18/11/2025

If you’ve ever felt unsure about doing your tax online, or you’re helping someone who is, there are safe, simple ways to learn how it all works. The ATO offers free educational tools, including a services simulator with realistic scenarios for practising online tax processes safely. The Tax Help program provides free assistance for eligible individuals earning $70,000 or less, while the National Tax Clinic program supports those with more complex tax affairs.

11/11/2025

The 20% student loan debt reduction is now law, which the government says will benefit over three million Australians who held loans on 1 June 2025. The ATO will automatically apply the change for most people by the end of 2025, so don’t delay lodging your tax return while waiting for your loan balance to change. If you repaid after 1 June, you’ll still get the same reduction, and credits may be refunded to your bank account. Also, from 1 July 2025, compulsory repayments shift to a marginal system with a $67,000 threshold, meaning smaller repayments for most.

04/11/2025

When you’re working on your tax return, keep in mind there may be changes that could benefit you. Did you know that the fixed rate for working from home expenses has increased from 67 cents to 70 cents per hour in 2024–2025? Or that the cents per kilometre rate for work-related car expenses is up from last tax year’s 85c per kilometre to 88 cents this year? If you charge your plug-in hybrid electric vehicle (PHEV) at home, the new EV home charging rate of 4.2 cents per kilometre may apply. Ensure you don’t miss out on these benefits.

30/10/2025

The key deadline for lodging your 2024–2025 individual tax return is coming up fast. Whether you're lodging your own return via myGov or having your tax agent lodge on your behalf, you only have until 31 October to act if you’re one of the many Aussies who haven’t made arrangements yet. Delays can trigger failure to lodge penalties and interest on your unpaid tax.

21/08/2025

Facing a tax bill is a common challenge for many Australian businesses. Whether you're currently managing a business tax debt or anticipating one in the near future, it’s important to remember that proactively engaging with your tax agent and the ATO is the best approach for getting your business back in the black.

14/08/2025

If your small or medium business is on a growth trajectory, you may soon hear from the ATO that you’re being included in its medium and emerging program for private groups. This program is specifically designed to engage with businesses and private groups that are expanding rapidly or have substantial turnover, and it’s important to understand how this could impact your tax obligations and management strategies. Here’s what you need to know.

07/08/2025

Tax time has now officially begun. Whether you’re preparing your own return or getting ready to hand things over to your tax agent, it’s important to prepare your documentation carefully, check your pre-filled information and understand what you can claim.

05/08/2025

It might seem a good idea to lodge your tax return and tick it off your to-do list as soon as the financial year ends, but the ATO is warning taxpayers that early July lodgers are twice as likely to make a mistake in their tax return. By lodging too early, you risk not having all the information you need to lodge your tax return correctly.

31/07/2025

Individuals, including sole traders, and partnerships (where at least one of the partners is an individual) can use the cents per kilometre method for car-related work or business expenses. The cents per kilometre rate takes into account all your car running expenses (including registration, fuel, servicing and insurance) and depreciation. If you use a motor vehicle for both work/business and private use, you must be able to correctly identify and justify the percentage that you are claiming as work/business use.

Address

G6, 75 Tulip Street
Cheltenham, VIC
3192

Opening Hours

Monday	9:45am - 5pm
Tuesday	9:45am - 5pm
Wednesday	9:45am - 5pm
Thursday	9:45am - 5pm
Friday	9:45am - 5pm

Website

http://www.yorkaccounting.com.au/

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