Renovating your investment property can add value, attract better tenants and increase your rental income. But did you know it can also...

More Australians are running businesses and clinics from home than ever before. Whether you are a consultant, a health professional or a...

If you are a tradie, your tools are your livelihood. But when it comes to tax time, many are unsure whether a tool is considered an...

Your self-managed super fund (SMSF) is designed to help you build wealth for retirement. While it can be tempting to dip into those savings earlier, the rules about accessing your SMSF are strict. Taking money out too soon or without meeting the right conditions can lead to heavy tax penalties. Many people assume they can use SMSF funds once they face financial pressure or want to invest in a business, but the ATO has clear guidelines on when withdrawals are allowed. For anyo

Many medical professionals underestimate the complexity of their financial situation. Whether you're a general practitioner, a surgeon,...

Every number you report on your BAS must be backed by evidence. Good record-keeping helps you lodge your BAS with confidence, stay on the...

Tax time can be overwhelming, especially for medical professionals balancing patient care and business admin. GPs often miss out...

Starting out as a sole trader makes perfect sense. It is simple, affordable and gets your business off the ground quickly. But as your business grows, you might start to feel the limits of that setup.  Many business owners reach a point where they wonder, “Is it time to take the next step?”  Some common triggers for starting to think about changing from a sole-trader structure:  Having employees  Increase in income  Great volume of work and risk  Larger jobs and projects  Pur

If you are working in the NDIS space, you probably know how tricky it can be to juggle your income, expenses and personal spending all from one bank account. It might feel easier to keep everything in one place, but that mix can quickly lead to stress. Often important details then get lost, tax deductions are missed, and it becomes harder to show clear records when the ATO or your accountant asks for them.  Opening a separate business bank account is a simple and easy way to

If you are an NDIS provider, you may already know that many supports and services are GST-free. But, you cannot simply assume all invoices will qualify. The ATO requires clear and accurate invoices to support GST-free claims.  Without proper documentation, you risk losing the GST-free status I there is a ATO audit, which could result in unexpected GST liabilities. Many providers don’t know that a simple invoice isn’t enough and that it needs to clearly shows the right details

Staying on top of your bookkeeping  means more than just being organised. It helps you:  Understand your cash flow   Stay compliant with the ATO  Avoid penalties and missed payments  Make better decisions for growth  One of the most common mistakes we see is waiting until the end of the quarter or even the financial year to sort everything out. By then things are harder to track and remember, and opportunities for savings tax dollars might slip through the cracks. Regular boo

As a General Practitioner (GP), a significant portion of your income likely comes from Medicare billings, but how that revenue is treated for tax purposes can be confusing. Many GPs assume that because Medicare sets the fees, the tax process is simplified. Unfortunately, that’s not the case.  Misunderstanding how Medicare earnings are taxed can lead to:  Unexpected tax bills  Inaccurate BAS or PAYG instalments  Problems with practice structure or contractor arrangements  How

Starting or growing a business can feel overwhelming, especially when it comes to tax. One of the most common questions we get is whether...

If you’re a subcontractor, you might assume the main contractor’s insurance automatically covers you. In many cases, that’s not true,...

If you run a business in Australia, keeping up with your BAS (Business Activity Statement) deadlines isn’t just another task on your to-do list. It’s part of keeping your business healthy and avoiding any nasty surprises like late fees from the ATO.   Key BAS Lodgement Dates to Know   Quarterly Lodgers   If you lodge your BAS every quarter, here are the dates you need to mark on your calendar for 2025:  January to March — due 28 April 2025 ( 26 May 2025 if Rise Accountants Lo

If you have a self-managed super fund , you are probably looking for ways to build your retirement savings while keeping your tax bill lower. Many people know that employer contributions go into super, but not everyone is sure about what happens when you add money from your own pocket. Can you claim a tax deduction on it? The short answer is yes, in many cases you can.  Understanding how personal contributions work is important because it can help you grow your super balance

Running a dental practice means juggling clinical work, compliance, payroll, equipment, and often a mountain of expenses....

If you are a tradie, your vehicle is one of your most valuable tools. Sometimes tradies do not claim all the deductions they are entitled to and can make mistakes that cost them money at tax time.  With the rising costs of fuel, maintenance and insurance, getting your vehicle deductions right can make a real difference to your income.  A common misunderstanding is that the only thing you can claim is fuel. There is a wide range of expenses you can claim if you keep the right

Keeping proper records isn’t just about staying organised. It’s essential for tax compliance. Without accurate records, you could:  • Miss out on tax deductions   • Have a hard time during an audit   • Experience delays when preparing your BAS or tax return  A common misconception is that paper copies are required. The good news is, the ATO accepts digital records if they are complete and legible.  What the ATO Actually Requires   You do not need to keep paper receipts if you

If you're running a business or working for yourself, you’re probably spending money training, certifications or professional memberships. These costs can add up fast.  The good news is that many of these expenses can be tax deductible. The not so good news is that it’s easy to get confused about what you can claim. Some people miss out on deductions because they’re unsure, while others accidentally claim things they shouldn’t, which can cause issues with the ATO.  Understand