Tax

ATO Updates: What Australian Property Owners Need to Know About New Tax Rules

Effective from 1 January 2025, the Australian Taxation Office (ATO) has made significant changes to the foreign resident capital gains withholding (FRCGW) regime, now requiring all Australian resident property sellers to obtain a clearance certificate, regardless of their property’s value. This update has critical implications for property owners, real estate agents, and brokers across the

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6 Strategies to Simplify Tax Time for High-Income Professionals

Navigating tax time can be a complex task, especially for high-income professionals such as doctors, lawyers, and executives. With multiple income streams, investments, and potentially complex deductions, ensuring compliance while optimizing tax benefits is crucial. At Boa & Co. Chartered Accountants, we’ve put together six practical strategies to help you tackle tax time with confidence

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What Does a Tax Accountant Do for High-Income Earners?

Managing taxes is a critical component of financial planning, especially for high-income earners such as doctors, lawyers, executives, and business owners. These professionals often face intricate tax situations due to multiple income streams, investment portfolios, and complex business structures. Boa & Co. Chartered Accountants specialize in providing tailored tax solutions to meet the unique needs

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Choosing the Right CPA for Tax Preparation: A Guide for High-Income Earners in Finance and Real Estate

Tax preparation can feel overwhelming, especially for high-income professionals in finance and real estate. Whether you’re an investment banker, financial analyst, fund manager, or a real estate investor navigating high-value transactions, hiring a skilled CPA can make a world of difference. Instead of struggling with complex tax laws or relying on DIY software, a CPA

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Boost Your Practice’s Financial Health: Tax Compliance for Doctors in 2024

As the new financial year approaches, it’s time for medical professionals to reassess their financial operations. Keeping your practice healthy from a financial perspective is just as important as providing high-quality care for your patients. For medical professionals, staying on top of tax compliance can be a complex task. That’s why Boa & Co. Chartered

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Eight Tax Tips for High Earners to Maximise Their 2024 Return

With changes to income tax rates from July 1, the end of this financial year is particularly significant for high-income earners. The upcoming stage three tax cuts will reduce the overall tax burden in the next financial year, creating an opportunity to optimise your tax return. By bringing deductions forward and deferring income, you can

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7 Smart Strategies for High-Income Earners to Cut Taxes and Boost Wealth

High-income earners often find themselves facing a hefty tax bill, which can be overwhelming. However, there are several effective strategies to not only reduce your tax but also build your wealth. At BOA & Co. Chartered Accountants, we specialize in guiding high-income professionals and executives to save tens of thousands of dollars every year through

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Personal Income Tax Rates & How They Affect High-Income Earners

As a high-income earner, understanding personal income tax rates is crucial for effective financial planning. Australia has a progressive tax system, meaning the rate of tax increases as income rises. Here’s a closer look at personal income tax rates and their implications for high-income earners. 1. Understanding the Tax Brackets In Australia, the personal income

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Tax Tips for IT Contractors and Freelancers: How to Manage Tax Effectively While Self-Employed

As an IT contractor or freelancer, managing taxes can be more complex than for traditional employees. Without employer-provided tax withholding, understanding the self-employment tax system is essential to avoid surprises during tax season. Here are key strategies to help you navigate the tax landscape efficiently: 1. Set Up a Business Structure Choosing the right business

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