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Establishing a self-managed superannuation fund (SMSF) offers a variety of benefits, so it is perhaps no surprise that in the latest data released by …

The transfer balance cap which limits the amount of capital that can be transferred into a tax-exempt retirement phase will not increase for the …

With the rise in businesses purchasing electric vehicles (EVs) for the use of their employees, the ATO has finalised its guidelines setting out the …

Estate planning is a complex area which requires careful consideration of tax implications. Many issues that affect the distribution of assets to …

Since the government’s announced changes to the Stage 3 tax cuts to give lower income earners more benefits, the chorus of voices advocating for …

Do you earn personal services income (PSI)? While most people may think that it only applies to builders or tradies, the truth is that may also apply …

As a new calendar year commences, the ATO’s priorities in the self managed super fund (SMSF) sector remain consistent. As in previous years, the …

Following two prominent High Court decisions which dealt with the distinction between employees and independent contractors, the ATO has sought to …

As we move into 2024, the ATO has highlighted three areas of focus for businesses: taking steps to address cyber security and increased protection of …

With the government finally caving into pressure to change the stage 3 income tax cuts despite its previous promises to keep the already legislated …

Treasury has released the Independent Evaluation of the JobKeeper Payment Final Report. The report considers both the impact and processes of …

Legislation is currently before Federal Parliament that proposes to allow a deduction of $20,000 (up from $1,000) for the instant asset write-off of …

While Single Touch Payroll Phase 2 (STP Phase 2) started on 1 January 2022, many digital service providers have a deferral in place to enable them to …

In response to community feedback and perhaps to negative commentary in the media, the ATO has announced it is pausing its “awareness campaign around …

As a part of the government strategy to target investment scams, ASIC and the Australian Competition and Consumer Commission (ACCC) – through the …

In an effort to reduce wage theft and prevent losses in retirement income for many Australians, the government is seeking to legislate its payday …

In case you might have forgotten, following an announcement in the 2021 Federal Budget, organisations that used to have the option of self-assessing …

The ATO has flagged a return to firmer debt collection actions after seeing a trend of profitable businesses that have the capacity to pay their tax …

Individuals participating in the sharing economy should be aware that transactions for supplying taxi travel/ride sourcing and short-term …

As a part of the government’s strategy to get more people back into work to solve skills shortages being experienced by many industries, a permanent …

The ATO has ramped up compliance activity in the self managed super fund (SMSF) space in response to an increasing number of funds that have been …

A recent Inspector-General of Taxation and Taxation Ombudsman (IGTO) report has recommended improvements to the small business litigation funding …

With the cost of living crisis and increase in interest rates hitting Australian households, there is growing evidence that many are falling into …

The ATO has warned taxpayers against entering into a scheme through their self managed superannuation fund (SMSF) which claims to allow individuals to …

The Federal Government has released plans to introduce a small business energy incentive to help small and medium businesses electrify and save on …

The ATO has recently issued new GST guidance specifically relevant to crypto assets. For GST purposes, the ATO considers that digital currency is a …

Remember temporary expensing, which allowed just about every business (unless annual turnover was at least $5 billion) to immediately write off the …

Businesses that make payments to contractors may need to report these payments and lodge a taxable payments annual report (TPAR). You will need to …

Movement may be afoot on the complex issue of individual tax residency in Australia. In 2019, the Board of Taxation released a report which contained …

Buying an existing business requires careful consideration. It is important to conduct a thorough due diligence review before deciding to buy. The …