2024-03-28T15:44:53+10:0028th March 2024|News|
Author: James Sanguanchati
The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024. This will mean that more Australian taxpayers will receive a personal income tax cut and take home more in their pay packet from 1 July, but for some, the impact will be less favourable
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
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
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,
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:
2023-09-20T13:20:09+10:0020th September 2023|News|
Author: James Sanguanchati
You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax implications.
Many small-scale developers often assume that their tax exposure is minimal – but this is
2023-09-20T13:18:50+10:0020th September 2023|News|
Author: Shaun Allen
The tax refund many Australians expect has dramatically reduced. We show you why.
There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate income tax, with personal income tax including taxes on capital gains representing 40% of
2023-06-21T10:43:22+10:0021st June 2023|Accounting, News, Taxation|
Author: James Sanguanchati
It’s that time of year when we all look at what last minute things we can do to maximise tax savings.
In the wise words of the late Kerry Packer to a Senate estimates committee, “Of course I am minimising my tax. And if anybody in this country doesn’t minimise their
2023-06-21T10:43:14+10:0021st June 2023|Accounting, News, Taxation|
Author: Karina Heydon
Tax deductions for topping up super
You can make up to $27,500 in concessional contributions each year assuming your super balance has not reached its limit. If the contributions made by your employer or under a salary sacrifice agreement have not reached this $27,500 limit, you can make a personal contribution and claim
2023-03-28T12:59:29+10:0028th March 2023|Accounting, News, Taxation|
Author: Rohan Toon
The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive
