I need to wear specific clothing for work, what can I claim on my tax return?

You can claim for clothing that is specific to your occupation, is not everyday in nature and allows the public to easily recognise your occupation – such as the checked pants a chef wears. You can’t claim the tax returns on the cost of purchasing or cleaning clothes you bought to wear for work that are not specific to your occupation, such as a bartender’s black trousers and white shirt, or a suit.

How much does it cost to register a company?

The total fee is $888 which includes all government fees, our service fee and GST. The ASIC registration fee is $463 and our service fee, inclusive of GST, is just $425. For $425 you get the professional advice before, on and after your business registration, Free ABN and GST setup, and also having all your company documentation such as consents, share registry, opening minutes etc. prepared and email to you. For an optional $88 extra One Minute Tax will also print, bind and post your documentation. For optional $49 extra One Minute Tax will also provide a common seal for your company. ASIC also charge an annual fee on the anniversary date of registration, ie if you registered a company today the annual fee would be payable in one years time. Annual fees vary depending on the type of company, they can be viewed on ASIC website.

Case Studies

One Minute Tax helps over 260 companies and 4300 individuals (numbers are still increasing) with every aspect of their financials. Here, you’ll find a selection of our expert work. Take a look at some of the results we’ve delivered.

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Successful Story - Individual Tax Return

Successful Story - Bookkeeping

Successful Story - Company Tax Return

Case Study Individual Tax Return

Challenge

To resolve income tax challenges and maximise client refunds.

Solution

Our client, Kate Millers, who has investment property since the last 5 years had never done her tax returns, the challenge she was received a letter from the ATO that charged her with a heavy penalty on not completing her tax returns on time. The client had no clue about what to do next and sought out assistance from One Minute Tax. We helped Kate liaise with a Quantity Surveyor, professionals who maximise depreciation deductions for investment property owners. Quantity Surveyor helped her get the maximum deductions she could get and also maximised her tax return for coming financial years with a tax depreciation schedule.

Results

The client was able to get maximum deductions on her tax returns and also claim missed deductions through the tax depreciation schedule that was created by the Quantity Surveyor. The schedule has helped in reducing the taxable income from her investment property and helped her to pay less in taxes each financial year.

I was just clueless about the piled up tax on my property and had no idea how to resolve this. One Minute Tax set up a meeting with an expert Quantity Surveyor who created tax depreciation schedule that has helped me convert my tax deductions into refunds. Thank you so much!

Testimonial

Case Study Bookkeeping

Challenge

To provide reliable financial reporting and give greater internal control to businesses.

Solution

Our client belonging to the manufacturing industry was recently confronted with a lack of proper online financial reporting by his bookkeepers who were not proficient enough in Xero, a cloud based online bookkeeping software. Previously, the bookkeeping was being done using, primitive, excel-based software for bookkeeping which slowed the process. Due to the lack of accurate record keeping, the transactions were not being recorded timely. Keeping all these challenges in consideration, One Minute Tax modernized the manufacturing companies bookkeeping by introducing a cloud based accounting software, Xero, that automates bookkeeping process and saves the company time and money.

Results

Once the new accounting software was in place, the manufacturing company was able to manage its invoices better than before and maintain proper bookkeeping online. The bookkeeper at the company can now continually monitor transactions and can also manage the cash flow better than before. Accurate bookkeeping and reporting has not only led to improved efficiency and profitability but has also reduced the stress of the bookkeeper.

I am glad I picked up One Minute Tax to resolve my financial reporting issues I faced at my company. They have streamlined our bookkeeping process and greatly reduced the workload. I could never imagine bookkeeping without paperwork, but they came up with a quick and timely solution that has helped us save up on both time and money.

Testimonial

Case Study Company Tax Return

Challenge

To provide the clients with an effective tax minimization strategy to help them save thousands of dollars in tax each year.

Solution

Our client belonging to the construction industry saw a rapid growth in its first operational year and at the end of the year experienced an enormous tax problem. The client had not done any tax planning in the past and did not have any structure that could help them to minimize the tax consequences of their rapid growth in the industry. The company was losing 30% of its profits in tax liabilities. Keeping all these challenges into consideration, One Minute Tax created multiple strategies for the client to reduce their overall tax, from aspect of reconsidering the structure of the business, superannuation, prepaid expense and depreciation that allowed them to minimize their tax obligations in future transaction.

Results

Tax minimization strategies recommended by One Minute Tax saved the construction company over $20,000 in taxes in their second year. The tax return strategies were implemented properly, thereby protecting their assets of the business in the long run.

One Minute Tax showed us how to implement and take advantage of some of their innovative tax strategies. The results led to significant savings on corporate tax. The company has demonstrated professionalism and exceptional business acumen in reducing our company’s tax burden and improved our net worth.

Testimonial