News and Events
What’s New at MKG Partners
Business Activity Statement (BAS): From Basics to Best Practices
After our previous blog post on understanding the Goods and Services Tax (GST), it's time to turn our focus to another important tax compliance obligation: Business Activity Statements (BAS). Knowing how to manage your BAS is a critical aspect of running a small...
Goods and Services Tax: Does Your Business Need to Register for It?
If you're a small business owner grappling with tax complexities, you're not alone. A common question we often encounter is, "Do I need to register for Goods and Services Tax (GST)?" The answer depends on various factors, including your business size and the nature of...
How to spot Phishing Emails posing as ATO
Tax season is here, and with it, there's been a noticeable uptick in phishing emails. These scams, often pretending to be from the Australian Taxation Office (ATO), aim to get hold of your personal and financial information. At MKG Partners, your security is our...
The Small Business Lodgment Penalty Amnesty Program
Are you a small business owner with overdue tax returns or activity statements? Here's the silver lining you have been waiting for—the Australian Government has recently announced a timely initiative: the Small Business Lodgment Penalty Amnesty Program. This...
What is Taxable Payments Annual Report (TPAR) and Do You Need to Lodge It?
What is Taxable Payments Annual Report (TPAR) ?TPAR, or Taxable Payments Annual Report, is an Australian tax reporting requirement that applies to businesses in specific industries. The report details payments made to contractors for particular services during the...
Xero and Hubdoc latest updates
In today’s fast-paced business environment, efficiency and user experience are key. The latest updates to Xero and Hubdoc are designed with those principles in mind, bringing new features and enhancements to streamline your workflow. Whether you're managing bills,...
Getting Your ABN in the 2024 Financial Year
One of the trends that we have identified in the first few months of the new financial year is significantly greater scrutiny from the ATO regarding ABN applications. Up to recently we would often be able to get an ABN for a prospective business client within 24...
Maximising tax deductions when renting out your home
Renting out part or all of your house or unit can be a lucrative way to earn extra income. However, to make the most of your rental earnings and stay on top of your taxes, it's crucial to understand the key points involved.Declaring rental incomeAny payments you...
A guide to Xero Repeating Invoice
As a small business owner, managing your finances efficiently is crucial. One of the key aspects of running a successful business is ensuring that your invoices are sent out promptly and consistently. Xero offers a powerful feature called 'Repeating Invoice,' which...
Death and Taxes
MKG Partners are your trusted advisors for your personal and business tax matters in times of exciting growth and in times of personal stress. One of the stressful issues that we have to deal with from time to time is the death of a client or a family member of a...
