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What’s New at MKG Partners
Comprehensive Guide on Motor Vehicle Expenses Claims
Small business owners can save money by deducting car expenses, but many don't realise they can. This article aims to provide a comprehensive guide on motor vehicle expenses claims, helping you understand how and when to claim these deductions. Whether you're using...
FBT Exemptions for Electric Cars
The Australian Government has introduced a significant incentive for small businesses to go green by offering FBT exemptions for electric cars starting from 1 July 2022. This move not only supports environmental sustainability but also offers financial advantages for...
WA Small Business Energy Bill Relief Guide
The WA Small Business Energy Bill Relief Program represent a joint effort by the Commonwealth and state governments, aiming to alleviate the strain of rising living costs. This initiative is a key part of the Australian Government's strategy, offering specific relief...
Making the Most of Your Holiday Home: Tax Deductions & Expenses Claim
Owning a holiday home in Australia is more than just a way to enjoy vacations—it's also an investment that comes with its own tax considerations. These properties can be great sources of rental income, but this means you'll need to keep an eye on the tax side of...
Top 10 Xero Tips to Streamline Your Business Accounting
At MKG Partners, we regularly publish helpful articles on our favourite features in Xero. Here are our top tips on getting the most out of your Xero software. Our team is happy to help you anytime if you would like some one-on-one support and training – just reach out...
The Festive Guide to FBT: Balancing Celebration and Compliance
With Christmas just around the corner, businesses are in full swing with their festive celebrations, presenting gifts and hosting events for employees and clients. While these seasonal gestures are integral to spreading holiday cheer, it's important for businesses to...
Eat The Frog Technique: The Secret to Conquering Daunting Tasks
Have you ever faced a task so daunting that it loomed over your entire day? Imagine conquering it first thing in the morning and how liberating that would feel. This is the essence of the "Eat The Frog" technique, a concept inspired by American writer Mark Twain's...
The ATO Wants to Clear Up Some FBT Myths
The Tax Office is targeting common areas of confusion related to fringe benefits tax, particularly concerning the personal use exemption. Speaking in a recent podcast, ATO Deputy Commissioner Ms. Rosenzweig explained that the tight labour market is prompting many...
Upcoming Changes to Marginal Tax Rates Starting 1 July 2024
With the next financial year on the horizon, there are important changes coming to the Australian tax system that warrant attention. Set to take effect from 1 July 2024, the Australian Taxation Office (ATO) has announced significant amendments to the marginal tax...
Effective Budget Management with Xero Budget Manager
Preparing a business budget is a crucial financial management tool that offers stability, control, and a clear path for achieving financial goals. A well-constructed business budget provides a roadmap for financial success and enables businesses to make informed...
