Under tax law, beneficiaries of a trust must be entitled to their share of the trust’s income as at 30 June. It’s a bit of a strange rule - it... read more →
As the end of the financial year (EOFY) approaches, it’s time to get your business records in order and ensure everything is ready for tax time. EOFY can feel overwhelming,... read more →
If you're running a small business in Australia, you’ve probably heard the term “instant asset write-off” tossed around—especially come tax time, and more recently in the news. But what is... read more →
Natural disasters can cause significant damage to rental properties and business premises, leading to costly repairs and financial uncertainty. If you own a rental property or business premises that has... read more →
A summary of the highlights from the Federal Government's 2025/26 Budget. Personal Income Tax – increasing the Medicare levy low‑income thresholds The Government will increase the Medicare levy low‑income thresholds... read more →
Division 293 tax is an additional tax on concessional superannuation contributions for high-income earners in Australia. It is applied at a rate of 15% on certain super contributions when an... read more →
Many Australians dream of moving overseas for a short-term adventure or a permanent lifestyle change. For some, the move is meticulously planned; for others, it’s a spontaneous leap into the... read more →
As the holiday season approaches, many homeowners may consider renting out their homes or a part of them to earn extra income, particularly in areas with high tourist traffic. Platforms... read more →
When it comes to work-related expenses, the Australian Taxation Office (ATO) allows employees to claim immediate deductions for depreciating assets that cost $300 or less. While this rule is straightforward,... read more →
As an employer, when you provide vehicles like sedans, station wagons, or passenger vans for your employees’ private use, you might be offering a car fringe benefit. This applies to... read more →
Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. The Australian Tax Office (ATO) mandates that all employers... read more →
It’s important to be aware of how the tax-free threshold works, especially if you’re earning income from more than one job. Many people mistakenly claim the tax-free threshold from multiple... read more →
Making the most of available tax deductions for your business can be an important aspect of starting the new financial year. It’s why planning and strategising with your tax advisor... read more →
You may pay less tax with the tax cuts that have taken effect from 1 July. While the tax savings will depend on your circumstances, it’s important to think about... read more →
The Federal Budget was handed down on 14 May 2024, and has outlined a number of changes that impact businesses, tax & superannuation. Instant Asset Write-Off Extended Small businesses with... read more →
For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. However, employers need to understand their... read more →
For businesses operating in Australia, navigating the intricacies of the Fringe Benefits Tax (FBT) is essential to ensure compliance with tax regulations and minimise financial liabilities. FBT is a tax... read more →
It’s essential for property owners to understand the intricacies of deductions associated with their cherished holiday retreats. However, as the holiday season approaches, they may find that their holiday retreats... read more →
With more security and fraud-related scams targeting vulnerabilities and attempting to commit identity theft and fraud, the ATO has changed the process for how tax agents can access your information.... read more →
At the worst time of your life, the last thing you want to think about is tax. When a loved one dies, however, their affairs must be dealt with at... read more →