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Money Doesn’t Come Without Guidance ...

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23
May

WHAT ARE THE TYPES OF INCOME YOU NEED TO DECLARE

Income means an amount, gift or allowance you earn, derive or receive for your own use or benefit. While doing your tax return, you need to declare all your income you received during the financial ye...

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23
May

HOW DO YOU MAKE A GAIN OR LOSS ON YOUR FOREX ACCOUNTS

Foreign exchange (Forex) gains and losses are subject to tax on "revenue" account, which means that gains are assessable and losses are deductible. Here, foreign gains are assessable when they are rea...

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23
May

WHAT IS GENERAL INTEREST CHARGE (GIC) AND HOW IS IT REMITTED?

The interest on overdue tax debt is known as general interest charge (GIC). GIC is tax deductible. Now and then, individuals experience circumstances where they cannot pay the tax bills and the intere...

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23
May

WHAT ARE THE TAX IMPLICATIONS FOR INCORPORATING YOUR BUSINESS?

Business incorporation will be subject to tax, reporting and compliance implications for individual taxpayers as well as for the business. A registered tax agent, accountant or a solicitor can help ta...

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23
May

HOW WILL AN INDIVIDUAL BE ELIGIBLE FOR DEPENDENT (INVALID AND CARER) TAX OFFSET?

The invalid and carer tax offset is an offset which will be entitled if you maintain certain people who are 16 years or older and who receive particular government payments. You can’t claim this of...

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