If you’re driving your car for work-related purposes in Australia, you’re probably aware that the Australian Taxation Office (ATO) allows you to claim a deduction for car expenses. One of the most straightforward methods is the ATO mileage rate, which helps simplify the process of claiming deductions for work-related car expenses. The rates and rules may change from year to year, so let's dive into everything you need to know about the ATO cents per km rate for 2024. Understanding ATO Mileage Rate The ATO mileage rate method is an easy way to calculate car expense deductions when you're using [...]

Weekly Tax Table 2024 Understanding the weekly tax table 2024 and fortnightly tax table is essential for managing your taxes in Australia. Whether you get paid on a weekly basis or run a small business in Australia, these tables help ensure you withhold the correct amount of tax. The Australian Taxation Office (ATO) provides these tax tables to guide both employers and employees. In this guide, I’ll help you navigate these tables, explain how they apply in 2024, and show how they simplify your tax responsibilities. Key Takeaways: The ATO tax tables help determine how much tax to withhold. Different [...]

When it comes to managing my finances, convenience, and security are at the top of my list. Suncorp Bank’s Internet banking platform checks both of those boxes beautifully. With Suncorp Bank, I can handle all my day-to-day banking needs online—whether I’m checking balances, paying bills, or transferring money between accounts. It’s incredibly user-friendly, and the added layer of security gives me peace of mind. In this post, I’ll walk you through everything you need to know about Suncorp Bank Internet Banking and why it might just be the best fit for your online banking needs. Key Takeaways Suncorp Bank Internet [...]

Work Related Car Expenses Calculator: A Comprehensive Guide Managing work-related car expenses can sometimes feel overwhelming, but with the right tools, you can simplify the process and even save money. Whether you use your vehicle for client meetings, deliveries, or commuting between offices, keeping track of these expenses is key. A work-related car expenses calculator can make it easier to manage and even help you claim deductions when tax season rolls around. In this guide, we’ll dive into the different types of expenses, how to track them, and how a good calculator can help you stay organized. What Are Work [...]

Why should businesses care about managed investment trusts? There are a couple of benefits. For one: You can boost your after-tax returns by lowering your overall taxes. Taxes often confuse people due to their complexity and frequent rule changes. Just last July 1, 2024, Australia announced cutting MIT withholding tax rates from 30% to 15% for new Build-to-Rent investments. This change aims to attract foreign investors by matching tax rates with other commercial investments. In this article, we’ll go more in-depth about how to maximize your tax benefits using MITs. Managed Investment Trusts, Defined Australia commonly uses Managed Investment Trusts [...]