News

Do your kids really want to take over your business?

2024-06-24T16:01:36+10:0024th June 2024|News|

Generational succession – handing your business across to your kids or family – sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and children are most vulnerable. It’s important that generational succession is managed as closely and diligently as if you were selling your business

Should you be the ‘bank of Mum & Dad’?

2024-06-24T16:24:53+10:0024th June 2024|News|

The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst.

The average price of a home in NSW is $1,184,500, the highest in the country. Canberra is next at $948,500, followed by Victoria at $895,000, with the Northern Territory the lowest at $489,2001. With the target cash rate expected

The essential 30 June guide

2024-06-24T16:01:15+10:0024th June 2024|News|

The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions.

For you

Opportunities

Take advantage of the 1 July 2024 tax cuts by bringing forward your deductible expenses into 2023-24. Prepay your deductible expenses where possible, make any deductible superannuation contributions, and

Electric vehicles causing FBT sparks

2024-03-28T15:43:25+10:0028th March 2024|News|

Author: Karina Heydon

The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention around the Fringe Benefits Tax exemption to electric vehicles.

In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to employees without incurring the 47%

How to take advantage of the 1 July super cap increase

2024-03-28T15:49:10+10:0028th March 2024|News|

Author: Shaun Allen

From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change.

The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions.

The contribution

Workers owed $3.6bn in super guarantee

2023-12-18T15:53:00+10:0018th December 2023|News|

Author: Shaun Allen

Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian Taxation Office estimates – a figure the Government and the regulators are looking to dramatically change.

 Superficially, the statistics on employer superannuation guarantee (SG) compliance look pretty good with over 94%, or over $71 billion, collected without intervention from

Self-education: What can you claim?

2023-12-18T15:46:48+10:0018th December 2023|News|

Author: James Sanguanchati

The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim.

If you undertake study that is connected to your work you can normally claim your costs of that study as a tax deduction – assuming your

$20k deduction for ‘electrifying’ your business

2023-12-18T15:38:27+10:0018th December 2023|News|

Author: Rohan Toon

Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We show you how to maximise the deduction!

The small business energy incentive is the latest measure providing a bonus tax deduction to nudge the investment behaviour of small and medium businesses,

Mastering Business Succession Planning: Key Insights

2023-09-20T13:24:24+10:0020th September 2023|News|

Author: Karina Heydon

What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners.

When it comes to generational succession of a family business, there are a few important aspects:

  • Succession