Protect your super from pushy sales tactics: consider the risks and don’t rush to switch
Each new financial year, many of us take a closer look at our super funds’ performance, and you’re more likely to be targeted by salespeople, cold …
Will your super be affected when the $3 million balance tax hits?
Since February 2023, the Australian government has been planning to introduce a new tax of 15% on a portion of “earnings” relating to total …
ATO interest charges no longer tax-deductible for businesses
Effective 1 July 2025, businesses can no longer claim income tax deductions for interest charges imposed by the ATO on unpaid or underpaid tax …
Small & medium businesses now have more time to get tax returns right
If you run a small or medium business, you know that financial accuracy’s important but sometimes mistakes can happen or information can change. …
HECS/HELP debt reduction Bill introduced
On 23 July, the Labor government introduced legislation aimed at enacting its election promise to reduce student debt by 20%. The Bill proposes to: …
What happens when SMSF trustees breach super laws?
Setting up your own self managed super fund (SMSF) can have its benefits, but it also comes with significant obligations. These include appointing …
Regulations have changed for buy now pay later services
If you’re one of the millions of Australians who use buy now pay later (BNPL) services, important changes are now in effect that will give you …
Accrued leave: take a holiday or take the payment?
If retirement is on the horizon and you have a large amount of accrued leave, you may well be contemplating whether to take a big holiday now, or just …
Keeping your super account secure
In the wake of recent cyber-attacks on several large Australian super funds, you might be wondering how to protect your retirement savings. The past …
What payday super could mean for you
The way superannuation is paid may be about to undergo a significant transformation. The Labor government’s proposed “payday super” reforms would …
Playing music in your business? Get your licensing sorted
Music can be a powerful tool in creating the right atmosphere for your business. However, it’s important to understand that most music is legally …
ATO warns about misinformation on super charges circulating online
Are you worried about rumours claiming your super preservation age will change from 1 June 2025? Take a deep breath – the ATO has confirmed these …
When someone dies: the tax to-do list
If someone close to you dies and you’re the one responsible for taking over their tax affairs, there are a number of steps you need to take to advise …
Tax and your child’s money: what parents need to know
As a parent or guardian, it’s essential to understand how tax applies to your child’s money. If your child has a savings account or receives other …
Beyond the booking: tax implications for short-term rentals of your home
In today’s sharing economy, platforms like Airbnb have made it easier than ever to earn extra income by renting out a spare room or your entire …
Working out your WFH expenses this tax time
To be eligible to claim working from home (WFH) expenses, you need to be genuinely working from home to fulfil your employment duties, not just …
Sole trader or company: what are the tax differences?
You may be starting out in business and trying to decide whether to become a sole trader or to set up a company. Alternatively, you may already be an …
Upskilling? You may be able to claim your self-education expenses
If you’ve thought about upskilling or undertaking professional development this year, you may be able to claim some of your self-education expenses in …
Instant asset write-off extended to 30 June 2025
Announced as part of the 2024–2025 Budget, and now legislated, the $20,000 instant asset write-off limit has been extended for a further 12 months …
General transfer balance cap increases to $2.0 million
The December 2024 Consumer Price Index (CPI) number has been released, confirming that the superannuation general transfer balance cap will increase …
Making smart super investment choices
Choosing the right investment option for your superannuation is important for your retirement savings. It’s essential to understand the different …
Made a mistake charging GST? Don’t panic
As a small business owner, you know how important it is to get your GST right. If you’ve realised you’ve incorrectly charged GST on a sale, don’t …
Claiming tax deductions for vacant land
Hoping to claim tax deductions on your vacant land? You need to meet a number of strict conditions to claim for costs such as interest payments on …
Super legacy pensions: regulations offer window to exit
For legacy lifetime, life expectancy and market-linked superannuation income stream products that generally commenced prior to 20 September 2007, …
How tax works in Australia’s superannuation system
Australia’s super system plays a vital role in ensuring financial security for individuals in retirement. However, how superannuation is taxed can …
ATO warns about GST refund fraud: check your arrangements
The ATO-led Serious Financial Crime Taskforce (SFCT) has issued a warning to businesses against trying to cheat the tax and super system by committing …
Understanding the Australian Government’s plan for cash and cheques
As digital payments become increasingly prevalent, the Federal Government has announced it’s taking significant steps to modernise the nation’s …
Managing your business’s tax debts
Facing a tax bill is a common challenge for many Australian businesses, and the ATO has recently shifted to a more active approach to debt recovery. …
Exploring compassionate early release of super
Superannuation is designed to provide for your retirement, but there are limited circumstances where you can access your super early on compassionate …
Super, KiwiSaver and the Trans-Tasman Retirement Savings Portability Scheme
If you’re thinking of making a permanent move between New Zealand and Australia, what do you do about your superannuation fund or KiwiSaver scheme? …