Y Partners Blog

We have arrived at the perfect time of year to do a spot check and a spring clean of your finances. Here's how!

Some like to run a health check on their finances once a month. Others once a year. Many don't have a regular pattern to ensure the progress of their financial plan against set goals. No matter which group you fit into, now is a good time of year to check in and make sure your money is doing its job. Read more…

Do you earn income through car sharing platforms? If you do, it is important to include the income – no matter how little – in your tax return. It's no different to anyone else renting out an asset, like a house or a car park. You must declare the income and you cannot avoid tax by calling it a hobby. The growing popularity of third party services (eg Car Next Door, Carhood or DriveMyCar Rentals) has prompted the ATO's interest. Read more…

Sending us in your business tax return information but not sure what to provide? The following might come in handy to advise what you need to give to us. When thinking about business income, start by including all of your gross earnings received through the ordinary course of your business. This includes any cash, EFTPOS, credit or debit card, and online sales. There may be other sources of business income you need to declare, depending on your circumstances.  Read more…