FBT and Christmas Parties
It’s almost that time of the year! A reminder that while staff Christmas parties can attract fringe benefits tax (FBT) there may be...
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- Nov 17
Understanding the Study & Training Loan Indexation Rates
The repayment thresholds and rates are updated annually for the compulsory repayment of study and training loans. Recently the indexation...
- Nov 17
Warning: Redrawing investment loans
The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax...
- Nov 17
The Danger of Misclassifying Contractors
Many business owners assume that if they hire independent contractors, they will not be responsible for PAYG withholding, superannuation...
- Nov 16
When Superannuation Guarantee is paid late
If an employer fails to meet the quarterly SG contribution deadline, they need to pay the SG charge (SGC) and lodge a Superannuation...
- Nov 16
Single Touch Payroll (STP) matched to superfund data
Single touch payroll (STP), the reporting mechanism employers must use to report payments to workers, provides a comprehensive, granular...
- Oct 17
Understanding the Main Residence Exemption When Renting Out Your Property
Are you planning to move out of your property, which has been your primary residence, and intend to rent it out? You might be wondering...
- Oct 17
ATO rental property focus areas
With ATO reviews indicating that 9 out of 10 rental property owners are making mistakes in their tax returns, rental property owners...
- Oct 17
Self-education: What can you claim?
The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of...
- Oct 17
30% tax on super earnings above $3m
Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances...
- Oct 17
$20k deduction for ‘electrifying’ your business
Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We...
- Sep 26
Share Market Update with Shaw and Partners
Andrew Tyrrell & Martin Crabb of Shaw and Partners, a leading Australian investment and wealth management firm, provides us with some...
- Sep 1
Do we pay more tax than other nations?
It depends on how you look at the statistics. Australia relies heavily on income tax, collecting 40% of tax revenue from personal income....
- Sep 1
Allowable deductions for work related clothing expenses by the ATO
When it comes to the clothing you wear for work, it's important to note that not everything qualifies for deductions. The items need to...
- Jul 25
Sullivan Dewing Annual 2023 Economic Update with Stephen Wu from CBA
To help you gain insights and make informed decisions, Stephen Wu, Economist from the CBA has provided a comprehensive analysis of the...
- Jul 18
Capital Gains Tax on Holiday Homes and Vacant Land
Capital gains tax (CGT) can be a complex and confusing topic for many. It is essential to have a good grasp of the rules and regulations...
- Jun 26
Additional 20% deduction for skills training and technology costs
The Government has passed legislation for an additional 20% skills training and technology costs deduction for small and medium business....
- May 12
Tax Tips for the End of Financial Year 2023
It’s that time of the year again! If you haven’t started tidying up your financial affairs before the end of the financial year, you’d...
- May 12
Do you know the difference between a contractor and an employee?
In December 2022 the ATO issued an updated draft ruling (TR 2022/D3, providing guidance on who is an employee for the purposes of PAYG...
- May 10
2023 Federal Budget Summary –
What it Means For You Treasurer Dr Jim Chalmers delivered his second Federal Budget last night, amidst an environment of high costs of...
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