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Categories: All, Accounting, Accounting adjustments, Advice, Budget, Budget Planning, Budget Process, GST Credit, GST credit claims, JobKeeper, Legacy, News, Rebate, Super, Tax, Tax Rates, Tax Rebate, Technology,
Fuel Tax Credit Changes
The excise and excise equivalent customs duty rates have halved for petrol, diesel, and all other petroleum-based products except aviation fuels. This temporary reduction is in place for 6 months and applies from 30 March 2022 until 28 September 2022. Here's what you need to know when claiming fuel tax credits on…
Excel CTRL Shortcut Keys
When working in Excel, there are so many keyboard shortcuts that can make our jobs easier and much quicker. We have compiled a small list below of the CTRL shortcuts that we use every day, and thought that you might like to try some: Key Ctrl Key Ctrl F1 Excel…
Contribute to your super and claim a tax deduction
If you contribute some of your after-tax income or savings into super, you may be eligible to claim a tax deduction. This means you’ll reduce your taxable income for this financial year – and potentially pay less tax. And at the same time, you’ll be boosting your super balance. How…
A History of Mother’s Day
On Sunday many Australians will spend the day celebrating their mothers and other special women in their lives. The modern Australian celebration of Mother's Day actually grew out of calls for peace and anti-war campaigns following the American Civil War (1861-65). In 1870, American writer and women's rights activist Julia…
Mid-Week Fun!
Fun is one of our core values here at Avance. Here is a mid-week joke to get you to the weekend. Enjoy! Three brothers aged 92, 94 and 96 live together. One night the 96 year old draws a bath, puts his foot in and pauses. He yells down the…
Have you made your Will yet?
It is important to have an up-to-date Will in place to reflect your wishes upon passing, not only to ensure that loved ones are appropriately provided for, but to help avoid any disputes arising after you are gone. You can choose to include any of the following clauses in your…
Inflation – does it matter?
Depends, with assets of shares/land/buildings and debt it may advantage you, if on fixed income or hold cash it may reduce your living standards and cash reserves. Inflation is the decline in purchasing power, you get less for your dollar, as prices rise. This measure is based on a basket…
Super Deadline Approaching
Most employers are aware of the due dates for quarterly superannuation payments. But did you know that your employee's superannuation contribution is considered 'paid' on the date it's received by the super fund - Not the date it's received by the clearing house. This is important to retain the deductibility…
Self-Managed Super Funds (SMSF)
A Self-Managed Super Fund (SMSF) is exactly what the name says – a super fund you manage yourself. The funds you would normally put in a retail or industry fund you put into your own SMSF and then you choose the investments and the insurance. Now, before everyone gets excited…
The 2022-23 Federal Budget
The 2022-23 Budget is safe and ballot box friendly with a focus on jobs, cost of living, home ownership, and health. Key initiatives include: A 6-month, 50% reduction in fuel excise with effect from midnight Budget night A $420 cost of living tax offset for low- and middle-income earners from…
