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Category: Tax

Have More Then One Job? Here’s What You Need To Know About The Tax-Free Threshold

It’s important to be aware of how the tax-free threshold works, especially if you’re earning income from more than one job.

Many people mistakenly claim the tax-free threshold from multiple employers, which can lead to an unexpected tax bill.

This guide will help you understand how to manage the tax-free threshold while juggling multiple sources of income, so you can keep your finances in check.

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Understanding The Superannuation Clearing House

As the End of the Financial Year (EOFY) approaches, it’s crucial for employers and self-employed individuals to ensure their superannuation contributions are processed efficiently and on time. 

Utilising a superannuation clearing house can streamline this process, ensuring compliance and maximising the benefits of super contributions. 

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What Contributions Can Be Made To Superannuation Funds?

As retirement looms, ensuring a comfortable and secure future becomes a top priority for many individuals.

One essential aspect of this preparation is maximising superannuation contributions. With the right strategies, you can harness the power of compounding interest and investment growth to build a substantial nest egg in your superannuation for your golden years.

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Understanding Fringe Benefits Tax (FBT) And What It Covers

For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. 

However, employers need to understand their obligations regarding Fringe Benefits Tax (FBT). The Australian Taxation Office (ATO) administers FBT, a tax on certain non-cash benefits provided to employees in connection with their employment.

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