Booked Accounting Pty Ltd

PAYGI, that thing you pay but maybe don’t fully understand 👇
It’s a prepayment toward tax on your business/investment income, not the same as PAYG withholding. Whatever you pay in gets offset at tax time.
⚠️ General information only, not personal tax advice, please check your own circumstances before acting on this.

Client asked me this week, do I need a receipt for literally everything? Short answer, not always, but there’s a catch 👇
Under $300 in work-related expenses (excluding car, meals, travel allowance), you might not need receipts, but you still need to be able to show you worked out the claim. Over $300? Full records required.
⚠️ General information only, not personal tax advice, please check your own circumstances before acting on this.

Hiring your first employee soon? There’s a proper checklist, not just a name and a start date 👇
STP, super fund details, TFN declaration, Fair Work award check, WorkCover registration, get it all sorted before their first pay run.
⚠️ General information only, not personal tax advice, please check your own circumstances before acting on this.

Ever wondered what actually shows up in your tax return before you even open it? 👀
Some of it fills itself in, wages, bank interest (if the bank's’got your TFN), private health details, government payments. But side hustle income, deductions, your logbook and tools? That’s all on you.
Hope this clears a few things up before you lodge 🙂
⚠️ General information only, not personal tax advice, please check your own circumstances before acting on this.
return ato

Sole trader or small business in NSW with an ABN? The government could pay you to buy a new ladder for your business 👇

The SafeWork NSW Small Business Rebate gives eligible sole traders and small businesses up to $1,000 back on safety gear — ladders, guard rails, anti-slip matting and more. Watch an eligible SafeWork NSW webinar (or attend another education event), keep your invoices, and apply within 12 months. Available once every 5 years per business owner.

👉 Check your eligibility and apply here: https://www.nsw.gov.au/grants-and-funding/1000-safework-small-business-rebate

*Disclaimer: This is general information only and not financial or tax advice. Eligibility criteria, terms and conditions apply — check the link above purchasing to confirm your situation qualifies.*

If you’re a tradie shoving receipts in your ute and hoping for the best at tax time, this is your sign to fix it.
Whether you’re on Xero, MYOB or something similar, you already have a free tool sitting there that does the work for you - you just need to actually use it.
📸 Snap it before you leave the counter. That’s it. That’s the whole system.
Send this to a tradie mate who’s still got receipts fading in the sun visor.
👇 What software are you using?

Thinking about buying a new work vehicle? 🚗🛻

Not all vehicles are treated the same for tax purposes.

A passenger car and a commercial vehicle can have very different tax implications when it comes to deductions, depreciation, GST and even Fringe Benefits Tax (FBT). Choosing the wrong vehicle for the wrong reasons could cost you more than you expect.

Before signing on the dotted line, make sure you understand how the ATO views the vehicle you’re buying—not just how the dealership markets it.

If you’re a tradie or small business owner and you’re unsure which option is right for you, getting advice before you buy can save you thousands.

⚠️ Disclaimer: This information is general in nature and does not take into account your personal circumstances. Always seek professional tax advice before making financial decisions.

🚗 Car loan or car lease… they’re not the same when it comes to tax.

One of the biggest misconceptions I see is people assuming the monthly payment is what they can claim. Unfortunately, it’s not that straightforward.

The tax treatment is very different depending on whether you’ve financed the car with a loan or you’re driving under a lease. Understanding the difference could save you from overclaiming—or missing out on deductions you’re actually entitled to.

💬 Did this surprise you? Let me know in the comments whether you’re driving under a loan or a lease.



⚠️ Disclaimer: This information is general in nature and does not take into account your personal circumstances. Always seek professional advice before acting on tax information.

📢 Setting the Record Straight | Episode 2

Contractor super, charity donations, phone bills, director liability - a few things worth knowing before tax time.
💬 Got one you’re not sure about? Drop it below 👇