Frequently asked questions.

The Medicare Levy and the Medicare Levy Surcharge are different things. The levy applies to most taxpayers based on income, while holding appropriate private hospital cover can help you avoid the separate surcharge. We can review your situation against the current thresholds.

The private health rebate is income-tested. If your income is higher than expected, or you claimed a larger rebate through your premiums during the year, an adjustment can appear at tax time. We can check the rebate tier that applies to you.

Sometimes, but these costs are often treated as private. Deductibility depends on the role, the direct connection to earning income and the evidence available, so we review the facts before claiming.

Medical costs are usually private and not deductible. The correct treatment depends on the specific facts and current tax rules, which we can check for your circumstances.

Travel claims depend on the purpose of the trip, the records kept and the connection to your assessable income. Private or mixed-purpose travel has limits, so we review the details before lodgement.

You may be able to claim a portion of running costs such as electricity, internet and phone. The method and records required change over time, so we help you choose the approach that suits your situation.

Deductible gifts generally need to be made to eligible deductible gift recipients. Many crowdfunding and GoFundMe contributions are not deductible, so each donation needs to be reviewed.

Division 293 is an additional tax on concessional super contributions for higher-income earners. It applies once your income and contributions exceed a set threshold, and we can help you understand whether it affects you.

A taxable event may occur when you sell or swap an asset, even if the proceeds stay on a platform. We can review your transaction history and capital gains position.

Usually yes. Dividends that are reinvested generally still need to be reported. The treatment depends on the dividend statement and your overall position.

Good tax planning starts before year end. Depending on your situation, options can include timing of income and expenses, super contributions and record-keeping. We can flag what is worth doing now.

Some offsets, levies and thresholds are based on combined or family income, so spouse details can affect your result. Providing them allows the return to be calculated correctly.

Keep records that support the income you declare and the deductions you claim, such as receipts, statements and logbooks. The required retention period depends on the transaction type, and we can advise what to keep.

A franking credit represents company tax already paid on a dividend. It can reduce the tax you pay on that dividend and may be refundable in some cases, depending on your circumstances.

PAYG instalments are generally issued when the ATO expects tax to be payable on business or investment income. We can review whether the instalment rate is appropriate for you.

GST registration depends on your turnover and business circumstances. We can review your revenue, expected growth and reporting obligations before you register.

A director identification number is a unique identifier that company directors are required to hold. It helps prevent the use of false or fraudulent director identities, and we can guide you through applying.

Division 7A is a tax integrity regime that can apply when private company money or benefits are provided to shareholders or their associates. It needs careful handling to avoid unexpected tax outcomes.

Company money is not the same as personal money. Drawings, loans and benefits can trigger tax consequences under rules such as Division 7A, so we help structure this correctly.

In some circumstances, yes. For example, certain unpaid tax and super obligations. We can help identify the risks and the obligations that should be reviewed early.

There is no one-size-fits-all answer. Setup should consider your balance, costs, investment goals, administration and trustee responsibilities. High-net-worth individuals are typically best suited.

SMSF member limits are set by law and should be confirmed at the time of setup, because the rules can change.

Non-compliance can lead to penalties and other serious consequences. We can help review the issue and identify the next steps.

The sole purpose test requires an SMSF to be maintained for permitted retirement-related purposes, not for current-day personal benefit.

Concessional contributions are generally made before tax (such as employer or salary-sacrifice amounts), while non-concessional contributions are made from after-tax money. Each has its own annual cap.

It may be possible, but strict SMSF rules apply, including around related parties, borrowing and the sole purpose test. We can help identify the accounting and compliance issues before you proceed.

It is a direction about who should receive your super benefits after death, subject to the fund rules and legal requirements. It can provide certainty compared with a non-binding nomination.

Super guarantee obligations depend on who you pay and how they work. We can review your employees and contractors to identify where super is payable and reduce risk.

Whether someone is a contractor or an employee depends on the substance of the working arrangement, not just the label in an agreement. The distinction affects tax, super and other obligations, so we review the facts.

Single Touch Payroll is an ATO reporting system for employee tax and superannuation information, reported each time you run payroll.

Personal services income (PSI) is income mainly for your personal skills or effort. Special rules can apply, and whether you operate a personal services business (PSB) affects how that income is taxed.

Payroll tax is a state-based tax that can apply once your wages exceed a threshold. The rates, thresholds and grouping rules depend on the jurisdiction.