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Essential Records for Accurate Investment Income Reporting and Tax Deductions

Record folder

Accurate reporting of investment income and claiming tax deductions is crucial for financial management. Understanding the records to keep and the duration for which they should be maintained is key to a seamless tax filing process. In general, it is advisable to retain investment-related records for at least 5 years…

ATO’s Online Learning Tool for Small Business Success

ATO Essentials Tool

At Avance, we're committed to empowering small businesses like yours to succeed. That's why we're excited to introduce you to a valuable resource offered by the Australian Taxation Office (ATO) – Essentials to strengthen your small business. As advocates for small business growth and sustainability, we recognise the importance of…

Navigating Business Resilience in 2024: A Digital Approach

Person in building. Walls falling down

In an era marked by unforeseen challenges, businesses have recognised the critical need for resilience and adaptability. Whether facing global pandemics, natural disasters, or economic downturns, the ability to swiftly adjust has become paramount for enterprises across diverse industries. As we step into 2024, the focus remains on prioritising flexibility…

Proposed Adjustments to 2024 Tax Cuts: What You Need to Know

Word Tax cut by scissors

In a recent development, the Federal Government has unveiled a proposal to reshape and redistribute the legislated personal income tax cuts scheduled to commence on 1 July 2024. This move aims to provide increased relief to lower-income households that have faced challenges due to rising living costs. While the announcement…

Maximising Investment Opportunities with Self Managed Superannuation Funds (SMSFs)

Money in a piggy bank

The appeal of a Self Managed Superannuation Fund (SMSF) lies in the autonomy it provides, allowing individuals to control and access a diverse range of investments beyond what traditional industry funds offer. While the prospect is exciting, potential SMSF trustees must be well-versed in the stringent rules that govern this…

Bucket List

Bon Voyage

Avance 2024 NRL Tipping Competition

NRL Players

As a valued Client we invite you to join our FREE NRL Tipping Competition. The 2024 NRL season is about to kick off, with Round 1 commencing Thursday, 3rd  March 2024 and we hope you will join us in the Avance 2024 NRL Tipping competition. All you need to do is enter…

Have you received support in difficult times?

Grants Files

Many small businesses across Australia may be experiencing challenges due to recent weather events, so worrying about meeting your tax obligations will not be your highest priority. However, it is important to understand tax implications of a business support grant. You may have received a grant to assist your business to…

Happy new year to all!

2024 balloons

As we enter a new calendar year, inputting dates when processing transactions in electronic files can be an issue for some. As the year has changed and we are still getting accustomed to using the new year, sometimes we revert back to the old familiar prior year accidentally. This can…

Christmas Trivia

Whether you are travelling around these holidays, or spending time with family and friends - enjoy some fun trivia on us! The tradition of putting up a Christmas tree originated in what country? Germany In what Australian state is the town of Christmas Creek located? Queensland Saint Nicholas, whom Santa…