Vault News
Overconfident Taxpayers Encouraged To Be Cautious This Tax Time
Overconfident taxpayers, recently published research has indicated that two-thirds of taxpayers will head into tax time with inflated confidence. Despite this, most overconfident taxpayers won’t have the resources required to navigate the “major” tax implications...
Tax Deductions For Teachers
Tax deductions, for teachers just like a large number of other professionals often pay for work related expenses out of their own pockets. In the majority of cases, these items can become highly valuable tax deductions for teachers. The tax deductions you claim back...
Tax and Cryptocurrency
As we run through the swing of tax season there is a definite increase in the number of taxpayers investing or holding cryptocurrency. The tax treatment of cryptocurrent has been clearly articulated by the ATO and it's important to ensure that you understand your...
Sustainable Retail Business Tips And Advice
Being a sustainable retail business is a huge drawcard and is a factor that is taken into consideration by a large number of Australians when deciding which products, they consume and purchase. Here are some tips to help your business become a more sustainable retail...
Tax Return Things The ATO Look Into
The Australian Tax Office (ATO) is warning taxpayers against making unsubstantiated deductions, as millions of Australians prepare to lodge this year’s tax return. This year the tax agency will have its eye on a number of key things such as; work-from-home expenses...
New Gig Economy Reporting Regime In Australia
Share or new gig economy participants across Australia will no longer be able to avoid their tax obligations as the federal governments announces plans to legislate a new compulsory reporting regime. The new gig economy reporting regime means that share and new gig...
The Different Types Of Trusts And How To Apply Them
The different types of trusts, when understood properly, trusts can assist people successfully plan finances, provide security for families, or achieve confident investing. There are a large number of different types of trusts and it is important to identify which...
Changing Your Super Fund: Helpful Tips
You will be pleased to know that changing your super fund is a relatively easy process, regardless of your reason for changing and even better it can be done online. This article will share four steps involved in changing super funds and what important information you...
Achieve Your Business Goals Faster Helpful Tips
Growing and to achieve your business goals faster is hard work and requires a huge amount of dedication. Here are some important tips to help you achieve your business goals faster and become bigger and a more successful business. Develop A Detailed Business Plan...
Tax Refund Delays Explaining Timeframes, Key Terms and Possible Reasons
Tax refund delays, for some Australians, waiting for their tax refund to appear in their bank account can seem like it’s dragging out for way too long, and some mistake receiving a receipt as a sign of an imminent ATO (Australian Tax Office) deposit into their bank....
2032 Brisbane Olympics Impact On Businesses
2032 Brisbane Olympics, in July 2021, Brisbane was officially confirmed as the host city for the 2032 Olympic Games. With the games still over a decade away from happening it would be a good time to discuss the economic benefits of the two-week international event it...
What Is Bitcoin? A Beginners Guide To The World’s Most Popular Cryptocurrency
Bitcoin is best known for being the world’s first ever digital currency and has been a topic that has brought huge amounts of discussion in financial circles over the past few years. In basic terms, Bitcoin is a virtual currency (also known as; cryptocurrency) which...
Queensland State Government Offers $5000 Lifeline For Businesses Impacted By Lockdown
Queensland State Government, Queensland businesses who are struggling as a result of the state’s newest lockdown have been given a financial support lifeline by the state government in the form of a $5,000 lockdown grant. The announcement was made on Monday 2nd August...
Fraudulent or Ineligible Claims For JobKeeper and Small Business Cashflow Boost
Fraudulent or Ineligible Claims, the Australian Tax Office (ATO) has announced that there are companies and individuals who still owe the tax office hundreds of millions of dollars. The money owed is a result of these companies and individuals attempting to rot...
How To Establish A Trust
How To Establish a Trust? A “trust” can be best described as an obligation imposed on a person or other entity to hold property for the benefit of beneficiaries. In a legal sense a trust is a relationship not a legal entity, trusts are also treated the same way as...
Paying Superannuation Late: Employers Face Massive Penalties
Paying Superannuation late, contributions that are delayed in respect to the salary and wages for a quarter must be paid by 28 days after the end of the quarter. Whenever this is not done, even if superannuation contributions were made one day late, the employer must...
Counteroffers Don’t Lead To Retention Here Are The Reasons Why
Counteroffers Don’t Lead To Retention, attempts made by businesses trying to retain employees by making a counteroffer are falling short. Recently published research has discovered that of the 50 percent who do accept the counteroffer will resign from their position...
Employees Work Better Together As A Team Top Tips
Employees Work Better Together, one of the biggest advantages a business can possess is having a team that works well together. Not only does having a team that works well together ensure a better performance thus making it easier to achieve your business goals and...
Share Economy Has New Regime For Reporting Tax
The popularity of the share economy has created opportunities for thousands of people across Australia to earn additional income. Such examples include working as Uber driver with a car you already own or letting someone stay at your home through Airbnb for a short...
ATO Announces New Lodgment Support For Tax Agents
ATO announces new lodgment support, On Friday 20th August, 2021 the ATO deputy commission Hoa Wood published an open letter to tax agents across the country announcing that practitioners would soon be able to request a deferral for a small number of clients from...
Mental Health: Accountants Are Concerned About The Health of Their Clients
Accountants across Australia have admitted that they are concerned for their business clients and their mental health with inquiries about financial distress being made more frequently over the past month. According to a recently published survey just under 50 percent...
Construction Boom Across Australia Increases Time And Cost To Build A House
As a consequence of the countries ongoing construction boom, the time it takes to build a house in Australia is blowing out significantly. Some reports have illustrated that many builders are increasing the price of building to avoid making a loss, this had led to...
More Cash Back At Tax Time For These Kind Of Jobs
More cash back at tax, trades, retail workers, teachers and office workers are some of positions of employment who have a surprising high number of cash perks available at tax time. Australians who are employed in these jobs or doing them as side-hustles are able to...
Tax Deduction Tips For Teachers
Tax deduction tips for teachers, tax returns in Australia generally vary from occupation to occupation. For anyone who works as a teacher or within the industry of education there are a number of tax deductions that are relevant to your position of employment....
Advice For Australians: Who Haven’t Lodged A Tax Return For Several Years
Advice for Australians, Skipping your tax return can quickly turn into several years of skipped returns, however it is never too soon or too late to make amends. This article outlines reasons why it is highly advisable you start lodging your tax returns again. Anyone...
Liquid Asset Test Scraps By Federal Government To Ease Burden on Sydney Workers Impacted By Lockdown
Prime Minister Scott Morrison has chosen to remove the $10,000 liquid asset test from the Covid-19 disaster payment as New South Wales hangs on to hope for further federal support in the face of an extended lockdowns. Prior to Thursday 9th July, eligible applicants...
ATO Announces Plans To Help First-Time Investors
The Australian Tax Office (ATO) has announces plans that it will be supporting first-time share and exchange traded funds (ETF) investors to lodge their tax returns and avoid errors that in many cases result in delay the refunds arriving in the taxpayer’s bank...
Tips For Getting Tax Deductions On Clothing And Laundry Expenses
Tips for getting tax deductions, the Australian Tax Office enables certain taxpayers to claim a tax deduction for the costs of purchasing and cleaning occupation-specific clothing, items of protective wear and for certain unique, and usually distinctive, uniforms. To...
The ATO Extends Division 7A Relief Due To Covid-19
On Monday 21st June 2021, The Australian Tax Office (ATO) extends Division 7A Relief for tax payers who have been unable to meet the minimum yearly repayments on Division 7A loans due to the impact of the covid-19 pandemic. The relief applies to Australians who are...
Reduce Your Tax Bill Useful And Valuable Tips
Regardless of whether you are an individual employee, a business owner, a freelancer or side-gigger there are plenty of things you can do to help reduce the amount of what you have to give to the ATO at tax time. Here are some tips to help enable you to get the most...
Tips For Managing Your Money To Save Other Expenses
Tips for managing your money, knowing how to manage your money is a highly important skill that will make your life less stressful and enable you to live more comfortably. Here are some essential tips to help you overcome your money problems and get your finances in...
Making A Life Insurance Claim How To Do It Right
Making a life insurance claim, life insurance can be best described as a contract between an individual and an insurance company. In exchange for your premium payments, the insurance company will pay a lump sum of money which is known as a death benefit to your...
Benefits Of Having Income Protection
Benefits of having income protection, a recent survey showed that 73 percent of Australians have no income protection policies and have no intentions to get one in the foreseeable future. The survey that was undertaken in August 2021 showed that only 16 percent have...
Lodging Tax Return For The First Time Advice For Australians
If you have never lodged a tax return before, and lodging tax return soon, the Australian Tax Office (ATO) has some advice to help make the process as easy as possible. The best advice for first-time lodgers is to be prepared and that means to determine whether you...
Tax Refund Use Your Excess Money Wisely
The Average Tax Refund in Australia is $2,800.If you hate doing your tax, perhaps knowing the average refund is almost $3,000 will make the task a bit easier. In 2020 the Australian Tax Office (ATO) refunded more than $30 billion to 10.8 million Australians. If you...
SME Recovery Loan Scheme By The Federal Government
SME Recovery Loan Scheme, In an effort to reduce the economic struggle caused by the covid-19 pandemic, the federal government has announced an extension of its small and medium-sized enterprise loan scheme. Following the conclusion of JobKeeper the government will...
The SME Loan Scheme Expanded By The Federal Government
The SME Loan Scheme, Small and medium-sized enterprises (SMEs) are now eligible to borrow up to $5 million dollars as part of the federal government’s decision to expand its loan scheme. The recently announced expansion will be included in the governments...
We Are Vault Financial Group Welcome To Our Official Blog
Vault is an Australian financial advisory and accounting group that offers a compelling array of specialists under one roof. Unlike similar advisory firms, Vault Financial Group are structured to offer expertise across the entire financial planning...
