In This Issue Should I restructure my business entity to a Company? Subdivision as scale still on capital account Division 296 – What do we do now? Should I restructure my business entity to a Company? There is no shame or blame in needing to restructure your business entity. It doesn’t mean that someone has […]
In this issue Labor’s victory: unpacking the promises and priorities From air fryers to swimwear: tax claims to avoid ATO’s new requirements for NFPs Economic crossroads: US shrinks, China stimulates, Australia holds steady Labor’s victory: unpacking the promises and priorities As the Labor party settle back into their seats having secured a majority in the […]
In this issue Year-end tax planning opportunities & risks For your business Instant asset write-off threshold finally confirmed Property subdivision projects: the tax implications The ATO’s updated small business benchmarking tool Year-end tax planning opportunities & risks With the end of the financial year fast approaching we outline some opportunities to maximise your deductions and […]
In this issue Personal tax cuts Super guarantee rules catch up with venues and gyms The proposed ban on non-compete clauses Treshold for tax-free retirement super increases Personal tax cuts From 1 July 2026, personal income tax rates will change. On the last sitting day of Parliament, the personal income tax rate reduction announced in […]
In this issue Trade wars and tariffs Ban on foreign property purchases Trade wars and tariffs Global Google searches for the word “tariffs” spiked dramatically between 30 January and 2 February 2025, a +900% increase to the previous 12 months. We look at what tariffs really mean. Who pays for tariffs? Tariffs increase the price […]
In This Issue Life after Bendel – Corporate Beneficiary UPE’s Be conscious of the Tax Implications on Family Law settlements Four Year Rule for Claiming Input Tax Credits (ITCs)/Fuel Tax Credits (FTC) Substantiation is not just for Deductions Life after Bendel – Corporate Beneficiary UPE’s As all SME advisers would be aware, on 19 February […]
In this issue Why the ATO is targeting babyboomer wealth Will credit card surcharges be banned? Is there a problem paying your super when you die? Threshold for tax-free retirement super increases Why the ATO is targeting babyboomer wealth “Succession planning, and the tax risks associated with it, is our number one focus in 2025. […]
In this issue Tax and tinsel Q&As What’s ahead in 2025? Phasing out cheques Tax deductions denied for signature basketball shoe R&D Tax and tinsel Q&As Can you avoid giving the Australian Tax Office a gift this Christmas? The top Christmas party questions What can I do to make the staff Christmas party tax deductible […]
In This Issue The ATO’s Approach to Tax Debts Timing Counts when Depreciating Assets are Lost or Destroyed Receiving Foreign Gifts and Inheritances – Beware Section 99B The ATO’s Approach to Tax Debts Statistics from December 2023 showed that the ATO’s collectable debt from taxpayers amounted to approximately $50 billion. A sizeable increase from the […]
In this issue What makes or breaks Christmas? When overseas workers are Australian employees Are student loans too big? What makes or breaks Christmas? The cost of living has eased over the past year but consumers are still under pressure. For business, planning is the key to managing Christmas volatility. The countdown to Christmas is […]