S & H Tax Accountants

02/10/2025

The Australian Taxation Office (ATO) has reminded taxpayers that the deadline for lodging their 2024–25 individual tax returns is fast approaching. If you prepare your own tax return without the help of a registered tax agent, you must lodge by 31 October 2025. Key Dates to Remember 31 October 2025 – Lodgement deadline for individuals preparing their own return via myTax or paper form....

23/09/2025

What has the RBA done? Throughout 2025, the RBA has begun easing monetary policy via a series of cash rate cuts, reversing some of the tightening that was put in place to curb inflation. Key moves: February 2025: First cut in over four years — the cash rate dropped from 4.35% to 4.10%. May 2025: Another reduction of 0.25 percentage points, taking the cash rate down to…...

01/09/2025

When completing an Australian tax return, one of the most important considerations is identifying which expenses are deductible. The Australian Taxation Office (ATO) provides clear guidance on what individuals, businesses, and trusts can claim. Knowing the right deductions not only ensures compliance but can also reduce your taxable income and maximise your refund. 1. Deductions for Individuals Individuals can claim deductions for work-related and personal investment expenses....

When completing an Australian tax return, one of the most important considerations is identifying which expenses are deductible. The Australian Taxation Office (ATO) provides clear guidance on what…

13/08/2025

August 12, 2025 — In a widely anticipated move, the Reserve Bank of Australia has lowered its official cash rate by 0.25 percentage points, bringing it down to 3.60% — the lowest level since April/May 2023 This marks the third reduction in the cash rate this year, following previous cuts in February (to 4.10%) and May (to 3.85%) RBA’s Rationale…...

August 12, 2025 — In a widely anticipated move, the Reserve Bank of Australia has lowered its official cash rate by 0.25 percentage points, bringing it down to 3.60% — the lowest level since April/…

12/07/2025

https://www.facebook.com/reel/3962776483974390/?mibextid=rS40aB7S9Ucbxw6v

🎥 **Confused about the Medicare Levy vs. the Medicare Levy Surcharge?** You're not alone!

💸 Whether you're earning under or over the threshold, understanding how these charges work can help you plan smarter and possibly **save money**.

👀 Watch this quick breakdown to get clear on:
✅ What the Medicare Levy is
✅ Who pays the Medicare Levy Surcharge
✅ How private health insurance fits into the picture

💬 Drop your questions in the comments — let's make tax time a little less taxing!

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07/07/2025

Tax season has officially commenced in Australia, marking the start of the 2025–26 financial year on July 1. This period is crucial for individuals and businesses to prepare and lodge their tax returns for the 2024–25 financial year, which concluded on June 30, 2025 🗓️ Key Tax Dates for 2025 Lodgment Start Date: Taxpayers can begin lodging their tax returns from…...

Tax season has officially commenced in Australia, marking the start of the 2025–26 financial year on July 1. This period is crucial for individuals and

30/06/2025

Reflecting on the Key Themes and What's Next for Australian Taxpayers As of 30 June 2025, the 2024–25 financial year has officially come to an end. For individuals, businesses, and tax professionals alike, this date marks more than just a page on the calendar — it’s a critical turning point for financial reporting, compliance, and planning. Here’s a look at how this financial year has wrapped up and what lies ahead:...

Reflecting on the Key Themes and What's Next for Australian Taxpayers As of 30 June 2025, the 2024–25 financial year has officially come to an end. For

02/06/2025

As part of the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO), the Australian Government announced a significant change to the tax treatment of Australian Taxation Office (ATO) interest charges. Now officially law, this measure will deny income tax deductions for certain ATO interest charges incurred on or after 1 July 2025. What’s Changing? Under the new law, taxpayers will no longer be able to claim deductions for the General Interest Charge (GIC) and Shortfall Interest Charge (SIC)...

As part of the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO), the Australian Government announced a significant change to the tax treatment of

28/05/2025

Introduction Tax planning is an essential aspect of financial management for both individuals and businesses in Australia. It involves the strategic arrangement of financial affairs to minimize tax liability within the legal framework. With the Australian Taxation Office (ATO) maintaining stringent oversight, effective tax planning ensures compliance while maximizing financial efficiency. What is Tax Planning? Tax planning refers to the analysis and organization of financial activities to legally reduce tax obligations....

Introduction Tax planning is an essential aspect of financial management for both individuals and businesses in Australia. It involves the strategic

22/05/2025

Each year, businesses in certain industries across Australia must submit a Taxable Payments Annual Report (TPAR) to the Australian Taxation Office (ATO). This report plays a vital role in helping the ATO monitor tax compliance within key sectors, ensuring businesses and contractors are meeting their tax obligations. What Is TPAR? The Taxable Payments Annual Report is a mandatory report that details payments made to contractors and subcontractors for services during a financial year....

Each year, businesses in certain industries across Australia must submit a Taxable Payments Annual Report (TPAR) to the Australian Taxation Office (ATO).