Why Read Product Disclosure Statements Before Buying Insurance? Are you considering purchasing insurance?  Before you make a decision, have you taken the time to read the Product Disclosure Statement (PDS)?  Striking right! At KPG Taxation, we understand with a wide variety of insurance options available, you might skip reading this important document. What is a Product Disclosure Statement (PDS)? An insurance PDS is a legally required document that outlines everything you need to know about an insurance policy, like a guidebook. It is a crucial document that provides essential ..read more

What Is Producer Tax Offset? – Understanding the Basics The Australian film industry is a vibrant hub of creativity, producing world-class content. But filmmaking can be expensive. The Producer Tax Offset (PTO) is a vital aspect of Australia’s film and television industry, offering financial incentives to producers.  But how exactly does this offset affect filmmaking? Well, that’s exactly the answer this blog will deliver. We will discuss the various complexities of the PTO, including eligibility criteria, recent legislative changes, and assessment timeframes. So let’s get started! W ..read more

Everything You Need to Know about Australian Tax Brackets 2024 Are you confused about how much tax you owe? Income tax is a system where the Australian government collects a portion of your earnings to fund public services like roads, schools, and hospitals.  The amount you pay depends on how much you make – the higher your income, the more tax you contribute. This concept is known as a progressive tax system.  So let’s dive in and understand the details of Australian tax brackets for the current financial year (2023-24) and study the upcoming changes coming into effect on July 1 ..read more

What is Land Tax? How Can You Calculate it? Have you ever wondered why property owners have to pay a certain tax each year based on the value of their land? It’s a question many property owners grapple with, yet understanding the ins and outs of this tax is crucial for anyone involved in real estate. This tax known as Land Tax, plays a vital role in funding essential public services. But what exactly is this tax?  So we decided to break through the mysteries around this and help you understand Land tax and how you can calculate your potential liability and understand the system effect ..read more

Australian Defence Force Tax Return and Deduction Checklist As a member of the Australian Defence Force (ADF), you dedicate your life to protecting our nation.  Serving in the Australian Defence Force (ADF) is a demanding yet rewarding career, and taxation should not add unnecessary stress.  But fear not, this blog is to simplify all possible deductions that you can claim as an ADF and get the maximum refund possible. Tax Deductions for ADF Members Australian Defence Force members, including those from the Royal Australian Navy, Army, and Air Force, are eligible for various tax ..read more

Performing Artist Tax Return and Deduction Checklist Do you love performing?  Music, dancing, singing, acting, or anything entertaining grabs your attention?  But taxes?  They can feel confusing. Feeling lost when with your taxes? No worries! We’re here to help you out! Managing taxes can be easy with an expert like KPG Taxation or, by knowing the right deductions.  Let’s break it down: what deductions can you claim to make the most of your tax return?  From car expenses to grooming costs, we’ll guide you through the process in simple terms.  So, grab a pen an ..read more

Fitness Industry Employee Tax Return And Deduction Checklist Are you working in the fitness industry?  Although your body is fit, taxes affect your mental health. Well, taxes can be confusing for anybody, even if you have six-pack abs also. However, it can be manageable with the right experts like KPG Taxation or if you know what to claim and what not to.  There are many work-related expenses you can claim as a deduction, potentially reducing your tax bill and putting more money in your pocket.  So we decided to share a checklist of common deductions for fitness professiona ..read more

Tradesperson Tax Return and Deduction Checklist Are you a tradesperson? And, looking to optimise your tax return, ensuring you’re claiming all eligible deductions? We can feel you. Between long hours on the job and the physical demands of the work, keeping track of the expenses can fairly be more effort-consuming.  But the good news is, with a little effort and organisation, you can claim a significant number of deductions and maximise your tax refund. Although there are experts like KPG Taxation to guide you but, we have decided to share a blog on the common deductions you can claim ..read more

Tax Deductions & Accounting Tips for Airbnb Hosts So, you’ve joined the exciting world of Airbnb hosting! You’ve listed your spare room or apartment, welcomed guests from all over the world, and maybe even earned a nice piece of extra income. But with great income comes tax responsibility, and navigating the tax world as an Airbnb host can feel a bit overwhelming. Don’t worry! In this guide, we will talk about essential tax deductions and accounting tips tailored specifically for Airbnb hosts in Australia. Are You Running a Business or Just Sharing Your Space? The good news is, that ..read more

Tax Implications When Buying a Holiday Home Have you ever dreamt of owning a holiday home by the beach or in the serene countryside? For many Australians, it’s not just a dream but a real investment opportunity. But before you get swept away in visions of weekend getaways, here’s a reality check: tax implications. Renting out your holiday home can be a great way to compensate for the costs, but the Australian Tax Office (ATO) has a keen eye on holiday home deductions. Let’s understand important tax implications that every prospective buyer should be aware of. Understanding Tax Obligations ..read more