In this issue Div 296 super tax and practical things to consider Important tax updates: deductions for ATO interest charges scrapped Finfluencers: bad tax advice could cost you Trust funds: are they still worth the effort? The one big, beautiful bill that may not be so beautiful for Aussies Div 296 super tax and practical […]
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 […]