• I've just started up my own business as a sole trader: what do I need to know about tax?

    Starting up as a sole trader changes the way you report income and pay your taxes. We can make sure that you're ready for the transition, no matter which industry you're from.

    Book a consultation
  • Need accounting software advice and support?

    Our extensive expertise in all aspects of accounting software means you can concentrate on what you do best – running your business. We are accredited Xero specialists and have been MYOB, Intuit and Reckon Partners for many years.

    Learn more about Our Services
  • We want to start our own business: how do we set up the company?

    At PBA Financial Group we specialise in the setting up of start-up and new businesses. We'll set up a solid foundation for your new business so that you can hit the ground running!

    Learn more about Our Services
  • I've always done my own tax returns without the help of an accountant

    More often than not, people who do their own tax returns will miss out on valuable deductions simply because they didn't know what they were entitled to claim, or they incorrectly claim expenses.

    Are you sure your tax return is as accurate as it could be?

    Book an appointment

Latest News

Heading overseas? Centrelink and the ATO might need to know

Different government payments have their own rules about whether, and for how long, they’re paid while you’re outside Australia.

.

Short trips for most families are usually fine, but longer absences can reduce, pause or stop certain payments. You must also keep meeting the usual eligibility tests (residency, income and assets) while you’re away.

For instance:

  • JobSeeker and Youth Allowance: These typically stop as soon as you leave Australia, unless you have an approved reason. Youth Allowance or Austudy may continue if the time overseas is an approved part of your Australian course.
  • Age Pension: There may be changes to your payment rate after six weeks and after 26 weeks abroad.
  • Disability Support Pension (DSP): You can receive DSP for up to 28 days in a 12-month period overseas. Extended stays may require special approval.
  • Family Tax Benefit: Payments usually stop after six weeks overseas.

You should inform Services Australia of any travel plans to ensure correct review of information before any border movement data is shared with Services Australia (and trigger a surprise review). Also check payments status when you get home.

The tax side is simpler. A short holiday doesn’t usually change your Australian tax residency, or payment processing. Longer absences may effect residency, reporting arrangements and student loan obligations, so best to discuss these before you leave.

 

 

Acctweb

Hot Issues