Why Taxation Matters

Taxation is the cornerstone of Australia's public finance system. In the 2023/2024 financial year, total taxation revenue across all levels of government reached $801.7 billion which is $46.2 billion (6.1%) higher than 2022/2023, representing 30% of GDP (Australian Bureau of Statistics, 2024).

This revenue funds essential services, including:

• Healthcare (Medicare) 

• Education (public schools and universities)

• Defence and national security

• Judicial and legal systems 

• Transport and public infrastructure

• Welfare and income support programs

Did you know?

Before taxes and transfers, the richest 20% of Australian households received 48% of national income, while the bottom 40% received just 13%. After taxes and government assistance, these figures shifted to 45% and 15%, respectively, highlighting the redistributive impact of the tax system (The Australia Institute, 2022).

Benefits of Hiring Ozledger Tax Accountants

At OzLedger – Accountants & Tax Agents, we help clients navigate the Australian tax system efficiently and strategically. Engaging with a registered tax accountant offers several advantages. This includes: 

• Time Efficiency

Our OzLedger tax accountants manage complex tax tasks, allowing you to focus on personal or business priorities 

• Compliance and Risk Mitigation

We ensure you meet all the ATO obligations and adhere to current tax laws, reducing the risk of penalties for late or incorrect filings

• Maximising Deductions and Tax Benefits

OzLedger accountants identify all eligible deductions and tax strategies, potentially lowering your tax liability 

• Financial Insights and Strategic Advice

We provide analysis and recommendations to support business growth and financial optimisation

• Peace of Mind

With professionals such as us taking care of your tax affairs, reduces stress and ensures accuracy 

• Audit Support

In the event of an audit, our team of tax or chartered accountants can represent you and liaise with tax authorities on your behalf 

• Adaptability to Legislative Changes 

At OzLedger, accountants stay updated on tax law changes, ensuring you remain compliant and take advantage of new opportunities, ahead of the curve

Hiring a qualified and experienced tax accountant at OzLedger can enhance compliance, reduce liabilities, and provide valuable financial insights for both individuals and businesses.

If you are in need of assistance or have further questions about taxation, please feel free to contact OzLedger – Accountants & Tax Agents at:

o   Email: info@ozledger.com.au

o   Phone: 0481 853 888