Accountants Blog | Taxation & Business Advisory

7 Tax Reduction Strategies for High-Income Earners in Australia

In Australia, high-income earners have the potential to reduce their tax liabilities through well-informed strategies significantly. This blog will introduce seven effective tax reduction techniques, each tailored to the unique financial landscape of high earners. We’ll cover a range of approaches, from intelligent property investment decisions to optimising deductions and setting up a discretionary trust. …

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What Happens If You Don’t File Your Tax Return on Time?

Tax / By Max Margin Accountants

Tax season can be a stressful time, and for some, it may slip by without filing a tax return. But what are the consequences of not lodging your tax return on time? MaxMargin Accountants offers a comprehensive look at what awaits those who miss the deadline. Tax Return Lodgement: Are You Required? You need to …

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5 Reasons Why Your NDIS Business Needs An Accountant

Accounting and Bookkeeping Services / By Max Margin Accountants

5 Reasons Why Your NDIS Business Needs An Accountant Running a successful NDIS business involves juggling numerous responsibilities, from providing quality care to managing finances. While you may excel in caring for individuals with disabilities, the financial aspects of your business can be equally demanding. This is where an accountant can be your greatest asset. …

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MYOB vs Quickbooks vs Xero: Which Accounting Software is Best for Your SMB?

General / By Max Margin Accountants

Managing your finances effectively is crucial for your small or medium-sized business (SMB) success. With the advent of technology, numerous accounting software options are available to streamline your financial processes and make your life easier. Three popular choices among SMBs are MYOB, Quickbooks, and Xero. But how do you determine which one is best suited …

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How to apply for ABN as a contractor in Australia

How To Apply for an ABN as a Contractor?

General / By Max Margin Accountants

Working as a contractor offers flexibility and autonomy, making it an increasingly popular choice for professionals across various fields. If you’re venturing into contracting in Australia, one of your first essential steps is to apply for an Australian Business Number (ABN). MaxMargin Accountants understands the importance of this process, as an ABN not only legitimises …

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Top 5 Tax Deductions for Small Businesses in Melbourne

General / By Max Margin Accountants

Running a small business comes with many complexities, not the least of which is navigating Australia’s tax laws and regulations. While daunting, understanding how to legally minimize your tax burden through deductions and exemptions can provide a major boost to your bottom line. In this post, we’ll outline the top 5 most valuable tax deductions …

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3 Reasons to Opt for MaxMargin Accountants for Your NDIS Bookkeeping Needs

Accounting and Bookkeeping Services, Business / By Max Margin Accountants

Navigating the financial intricacies of NDIS (National Disability Insurance Scheme) can be a challenge. Proper bookkeeping is essential for effective fund management and compliance. This is where MaxMargin Accountants step in. Our specialised services cater to your NDIS business bookkeeping needs, providing you with the peace of mind and support you deserve. 1. NDIS Expertise …

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The Hidden Puzzle of Business Finance: Current Business Liabilities Explained

Business / By Max Margin Accountants

Unravelling the mysteries of business finance may seem like a daunting task. With terms like balance sheets, equity, accounts payable, and accruals, it’s easy to feel overwhelmed. But amongst these terms lies a critical piece of the business finance puzzle that is both crucial and intriguing – Current Business Liabilities. As you dive deeper into …

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Preparing for End of Financial Year: A Checklist for Sole Traders

General / By Max Margin Accountants

As the end of the financial year (EOFY) approaches, the phrase “tax time” often stirs feelings of apprehension, especially among sole traders. Juggling the responsibilities of running a business and preparing for EOFY can be challenging. However, with a bit of organisation and preparation, tax time can become a much less daunting period. We, at …

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5 Benefits of Tax Planning: As Essential Guide for Small Business Owners in Melbourne

General / By Max Margin Accountants

Introduction Are you a small business owner worried about how taxes might affect your profits? Don’t worry – with strategic tax planning; you can deal with the situation most effectively and improve your bottom line. Tax planning is a strategy that focuses on minimising the amount of tax to be paid in a year on …

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