U First Accounting & Tax Services

23/07/2025

Try to avoid comon mistakes by self lodging tax return.

02/07/2025

Here’s a concise summary of the key tax and superannuation changes in Australia for the 2025–26 financial year, effective from 1 July 2025:

🧾 Tax Changes
1. Personal Income Tax Cuts (Effective 1 July 2026)
The personal income tax rate for incomes between $18,201 and $45,000 will be reduced from 16% to 15% starting 1 July 2026. Further reductions are planned for subsequent years.

2. Foreign Resident Capital Gains Tax (CGT) Withholding
From 1 January 2025, the foreign resident CGT withholding tax rate increased from 12.5% to 15%, and the threshold for property sales subject to withholding was removed.

💼 Superannuation Updates
1. Superannuation Guarantee (SG) Rate Increased to 12%
From 1 July 2025, employers are required to contribute 12% of employees' ordinary time earnings to superannuation, up from 11.5%.

2. Superannuation on Paid Parental Leave
Starting 1 July 2025, the government will pay superannuation on Paid Parental Leave, with contributions made as a lump sum after the financial year ends.
diversa.com.au

3. Contribution Caps for 2025–26
Concessional (before-tax) contributions cap: $30,000

Non-concessional (after-tax) contributions cap: $120,000

Bring-forward non-concessional contributions cap: $360,000

CGT non-concessional contributions cap: $1,865,000

📈 Other Financial Updates
1. Minimum Wage Increase
The national minimum wage has risen by 3.5% to $948 per week, effective 1 July 2025.

2. Paid Parental Leave Extended
Paid Parental Leave has been extended to 24 weeks from 1 July 2025, progressing toward 26 weeks by 2026.

These changes aim to enhance financial well-being and ensure a more equitable tax and superannuation system. If you need further details or personalized advice, feel free to ask! ☎☎☎Call Julia on 0432 455 572

01/07/2025

Businesses in Australia need to lodge an Annual Wages Declaration (or wage certification) with WorkCover or the relevant state authority at the end of each financial year (usually around July) to ensure their workers’ compensation premium is accurate.

✅ WHEN does a business need to lodge their annual wages certification?
Each financial year: After June 30 (i.e. starting from 1 July). You will get some discount for early lodge and payment.

Deadline: Usually by 25 October 2025, but can vary slightly depending on your state and business size. Recommended in July for accurate estimate and 5% discount for 2026 Premium ( if pay before 18/08/2025)

You must report actual wages paid to workers during the previous financial year.

📌 WHY it matters:
It allows WorkCover to:

Recalculate your premium based on actual wages (not just estimates).

Issue adjustments (refunds or additional charges).

Failing to lodge on time may lead to:

Penalties

Estimated premium charges

Loss of access to discounts or flexible payment plans

📄 What to include in the declaration?
Gross wages and salaries

Superannuation contributions

Bonuses, allowances

Apprentice wages

Payments to contractors (if deemed workers)

🔧 How to lodge it?
Log into your state’s WorkCover portal

Fill in actual wage details for the previous financial year

Submit and pay any balance (or receive a refund)

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If you are already our business clients, don't worry, we do it for your business for free. If you are not please contact us to get helps. ☎ 0432 455 572

26/06/2025

Tax Saving tips. Hurry only 4 days left. Julia Le

26/06/2025

30 June 2025 is only 4 days apart.
DONT MISS THIS, If your business make a lot of profit this year.
Here are small but very effective tips to save more tax:💵💰💰💰💸💯

⭐ Pay all supplier outstanding debts before 30/06 to claim more deduction for this year and more GST refund ( if you on cash method).
⭐ Pay Q4 Apr-Jun 2025 Super Guarantee contribution before 30/06/2025 to claim it in 2025 FY
⭐Pay July/ Aug rent in advance if your cash flow allow.
⭐ Contribute up to 30K to your super fund for concessional contribution (tax deductible)
⭐ Contribute some money to your Spouse super fund if your spouse taxable income is low, you both will get some tax benefit.
⭐ Purchase tools/ equipment if they need to be replaced soon.
⭐ Upgrade/replace your business assets if it is about to end their useful life soon.
⭐ Stock up your stationaries

(*) Please be noted that any tips need to be carefully considered and applied with sufficient knowledge and best to be consulted with your professional tax practitioner for best results and suitable with your business needs.

Contact us to get helps or tax advise for tax saving and long term business sustainability. ☎☎☎ 0432 455 572

04/12/2024

01/01/2025 tới đây rất nhiều ngành sẽ được tăng lương cho những người ở entry level. Và lương tối thiểu cho ngành aged care sẽ tăng 3%. Các bạn biết chưa?

08/12/2023

One more flower award to add in my certificate bouquet. What a good news to start a day!

Lại thêm một bông hoa nữa bỏ vô bó hoa bằng cấp chứng chỉ của em. Niềm vui nho nhỏ cho những nỗ lực to to.

14/09/2023

📊🧮 Managing Your Finances with U First Accounting & Tax Services 🧮📊

Hey there, friends! 💼 Let's talk about everyone's favorite topic... TAXES! 😅 But don't worry, with U First Accounting & Tax Services by your side, we're turning the "taxing" task into a breeze! 🌬️💰

Here are some fantastic tips on how to manage your accounting records and taxes effectively with our amazing team:

1️⃣ Start Early: Just like a squirrel preparing for winter, start organizing your financial records early in the year to avoid last-minute stress. U First can help you get a head start!

2️⃣ Keep It Organized: Don't let that shoebox of receipts haunt you! Our team can guide you in maintaining a neat and organized financial record system.

3️⃣ Tax Deductions Galore: We're like detectives hunting down every possible tax deduction to save you money! 🕵️‍♂️💲

4️⃣ Plan Ahead: With U First, we'll help you create a tax strategy tailored to your needs. No one-size-fits-all solutions here!

5️⃣ Electronic Filing: We make e-filing a breeze, so you can say goodbye to paper clutter! 📁👋

Remember, U First Accounting & Tax Services is here to make your financial journey smoother than a buttered slide! 🌊🎢 So don't sweat it, let's tackle those numbers together. Contact us today and let's make managing your finances fun again! 💃💼🕺

13/09/2023

📣 Hey there, friends! 📣

Tax season is upon us, and it's time to make sure you're getting all the deductions you're entitled to! 📈✅ Do you know what are common deductions that people are entitled to claim?

🚗 Let's start with CAR EXPENSES: If you use your vehicle for work-related purposes, you might be eligible for deductions. Keep detailed records of your trips.

👔 CLOTHING: Work-related clothing expenses can also be claimed. Think uniforms, protective gear, or any clothing specific to your job. Make sure you're aware of the rules.

🏡 HOME OFFICE: With remote work becoming the norm, claiming home office expenses is more relevant than ever. Make sure you know how to do it right.

📚 SELF-EDUCATION: If you're investing in furthering your skills for your current job, certain education expenses can be deducted.

🤲 DONATIONS: Giving back feels great, and it can also lead to tax deductions. Understand the ins and outs of claiming charitable donations.

https://www.ato.gov.au/Tax-professionals/Prepare-and-lodge/Tax-Time/Tax-Time-Toolkits/Tax-time-toolkit-general/?=redirected_commondeductions&anchor=Commonworkrelateddeductionsandrecordkeep&fbclid=IwAR1crPyeCIpEi-YbgJ5jDttZtbnii3AXdYiz2Ya3cfW104hlcABFdE-XWrY

Remember, getting these deductions right is crucial to maximizing your tax return while staying within the law. 📑💰

At U First Accounting & Tax Services, we're here to help you navigate the tax landscape. If you have questions or need assistance, don't hesitate to reach out @ 0432 455 572💼📊

Stay informed, claim what's rightfully yours, and let's make this tax season a breeze! 💪📆

Our Tax time toolkit 2023 includes occupation and industry guide summaries and how to avoid common reporting mistakes.

11/09/2023

📢 Attention, Aussie Individuals and Small Businesses! 🇦🇺

Are you ready to supercharge your savings in the 2023 & 2024 Financial Year? 💰✨

Introducing "U First Accounting & Tax Services" - Your Tax-saving Superheroes! 🦸‍♀️🦸‍♂️

🔍 Did you know that there are countless ways to legally minimize your tax liabilities? From deductions and credits to strategic financial planning, we've got the insider knowledge to make your money work harder for YOU.

Here's what we can do for you:

✅ Personalized Tax Strategies: Tailored just for you, because one size doesn't fit all.
✅ Maximized Deductions: We leave no stone unturned to ensure you keep more of your hard-earned money.
✅ Hassle-free Compliance: Stay worry-free, we'll handle all the paperwork and deadlines.
✅ Financial Insights: Empowering you with the knowledge to make informed financial decisions.

Stop letting your money slip through the cracks. Let's make 2023, 2024 the years you take control of your finances!

Ready to save big? 🚀 Contact us today for a FREE consultation and let's kickstart your journey to financial success. 💼📈

Don't wait! Contact us now @ 0432 455 572 and experience the "U First" advantage. Your financial future deserves it! 🌟

06/09/2023

🆙💓"U FIRST ACCOUNTING & TAX SERVICES" YOUR SMART TAX AND ACCOUNTING SOLUTIONS! ✨✨✨💯💯📈📈📈💥⭐️
📞 0432 455 572
💌 [email protected]
🔎w: www.ufirstaccountingntaxservices.com.au
https://www.youtube.com/watch?v=SbrwLIc70q4