2023 Personal Tax Checklist

With the 2023 Tax season fast approaching, we’ve pulled together 7 tax considerations to pop on your Personal Tax Checklist.

7 Tax Considerations for your 2023 Personal Tax Return

Consider pre-paying any interest on investment loans up to 12 months.
Consider pre-paying any costs associated with Investments. Eg. Rental Property – Rates, Insurance etc.
Ensure you have kept receipts for all costs associated with your investments or work related claims.
Consider making a personal deductible superannuation contribution. The cap for the year is $27,500 and you should check what has currently been received and is expected to be received by your fund before deciding an amount as if you go over your cap there can be significant penalties.
*There is also now rolling unused cap balances – if you have made a significant taxable capital gain or would like to boost your superannuation balance this measure can assist you. However, it is important to gather information to ensure you don’t exceed the maximum cap available to you.
New work from home record keeping requirements for 2023 FY
Ensure your car logbook is up to date to enable choice of claim methods.
If you have invested in Cryptocurrencies consider using a crypto tax calculator such as Koinly or Crypto Tax Calculator to prepare an Australian tax report for 2023 financial year. (The cost of the report will also be tax deductible in the year that you pay for it.)

We’re here to help!

If you’d like to learn more about how we can assist you this tax time, please visit our Personal Tax or Business Accounting and Tax page.

And don’t forget to download our complete 2023 Tax Planning Checklist to hear what else you should be considering for your Business Tax Return, or if you have a Trust.

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In the world of small business, keeping up with the latest data trends and maintaining a healthy cash flow can be quite demanding. This is where Lemonade Beach’s Cashflow Forecasting program, “Swell” steps in – a real time financial tracking and management tool that serves as your financial consultant and advisor.

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In this blog post, we delve into the three levels of our Swell Cashflow Forecasting tool: Snapper, Bells, and Mavericks. Each one is designed to address the specific needs of businesses at different phases of their journey.

tax return tips for married couples and de facto relationships

Tax Return Tips for Newlyweds and De Facto Relationships

As newlyweds you may be wondering how this impacts your tax situation. When it comes to lodging your tax return, the simple answer here in Australia is that nothing changes. In fact, whether you are married or in a de facto relationship each spouse will continue to lodge an individual tax return, just as they would have done prior to committing to one another.

2025 Tax Changes and Tips for Compliance

With the start of the new financial year, it’s crucial for both individuals and businesses to stay updated on recent tax changes and compliance requirements. Tax regulations undergo frequent revisions, impacting aspects like income tax rates, deductions, and offsets. Let’s explore the key tax updates for 2025 and some practical tips to guarantee compliance and maximise tax benefits.

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