Here’s what you need for your 2024 tax return
Have you got your tax sorted? Tax time is just around the corner, so it’s time to start collecting all the documentation and information you …
Have you got your tax sorted? Tax time is just around the corner, so it’s time to start collecting all the documentation and information you …
Personal tax rates: Stage 3 (as revised) confirmed from 2024–2025 In the 2024–2025 Federal Budget, the Government did not announce any further changes …
To safeguard retirement savings held in self managed superannuation funds (SMSFs) from fraud and misconduct, the ATO is rolling out new security …
The Treasurer has announced that the Federal Government will pay superannuation on paid parental leave from 1 July 2025. The intention is that the …
The ATO will once again be running its data matching program on novated leases in 2024, covering the 2023–2024 to 2025–2026 income years. This program …
With the return of international conferences for various occupations, the deductibility of expenses such as accommodation, meals and course fees …
With the revised stage 3 tax cuts now law, it’s a good time to understand how these changes will affect you and how to plan your taxes for the future …
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 …
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 …