Eager and Partners

Income Tax Returns and Consulting

We can assist with income tax and capital gains tax planning measures to effectively minimise your tax liability based on our knowledge and experience with the current income tax laws

We provide Accounting services for businesses of all types, including Sole Traders, Partnership, Companies, Trusts and Self Managed Superannuation Funds

We can provide factual tax advice in regard to your personal or employee superannuation arrangements

We can also assist in establishing and administering your Self Managed Superannuation Fund

4 Myths of Starting A Business

Starting a business requires research, risk, passion and planning The start-up phase can be exciting but also exhausting with research to be done on your market and your competitors plus the preparation of a business plan, marketing plan and cash flow budget

ATO Identify 3 Primary Targets for Individual Taxpayers

Work expenses, omitted income and rental property claims have been identified as primary targets by the ATO to narrow the $8 billion gap between what individuals pay in tax and what the Tax Office believes they should pay

ATO is Watching the Cash Economy

The Australian Taxation Office (ATO) have revealed the industries they are watching carefully given the black economy is very active The black economy or 'shadow economy' refers to activities that take place outside of the tax system that includes business owners demanding payments in cash, not declaring all sales, and paying workers cash in hand The ATO estimates it loses around $11 billion in taxes each year from the shadow economy

ATO Fines to Increase

Businesses that fall behind on their tax lodgements can expect the financial penalties to increase dramatically from January 1, 2023, with more rises to follow Buried in the Federal Budget was a scheduled increase to Commonwealth Penalty Units from the current level of $222 to $275 at the start of 2023 Commonwealth Penalty Units dictate the value of fines for tax, communication, financial and fraudulent offences

This video outlines what deductions you can claim if you operate your business from home or if you have a home office

For more information, visit the ATO website 74 Main Street, Bairnsdale Vic 3875 Phone: 03 5152 3317 Office hours: 8:30am - 5 00pm, Mon - Fri Shop 1/271 Esplanade, Lakes Entrance Vic 3909 Phone: 03 5155 5555 Office hours: 8:30am - 5 00pm, Mon - Fri