Tax Implications of Small-Scale Subdivisions: Navigating Pitfalls and Opportunities
The allure of subdividing land into promising property development is undeniable. With plans in place and arrangements aligned, the success …
Understanding Smaller Tax Returns
Tax refunds have long been a source of anticipation and excitement for Australians, but in recent times, many have noticed …
Backing a winner: Digital games tax
The world's largest creative sector and one of the fastest-growing industries is the interactive entertainment and digital games sector. The …
What changed on July 1 2023
The new financial year brings new changes to how tax is implemented in Australia. We’ve highlighted below key updates to …
Tax savings for you
Here at MB Accounting and Business Services, we specialise in all things tax – including helping you with your individual …
Saving this financial year on business tax
Advance the acquisition of assets You have until June 30, 2023, to utilise the temporary full expensing rules if your company …
A Tax Risk Warning for ‘OnlyFans’
The rise of 'content creators' like OnlyFans, YouTubers, TikTokers, and others presents opportunities for them to make money from the …
Rental Property Crackdowns from the ATO
The Australian Taxation Office (ATO) has intensified its campaign against rental property owners who submit their income and expenses inaccurately.Based on …
Superannuation Matters
In advance of the 2023–24 Federal Budget, a Treasury consultation paper has generated a national discussion regarding the role, purpose, and …
Working From Home and Tax
The Australian Taxation Office (ATO) has revised how it handles home-based employment expenditure claims.The process for claiming deductions for the …
Final position of the ATO on dubious trust distributions
The ATO has published its final position on how it will implement some integrity regulations governing trust distributions, moving the …
How to have a business strategy in 2023?
The current market in Australia, with rising inflation and interest rates is a tough market to navigate for any business. …
Are ‘downsizing’ contributions worth it?
From the 1st of January 2023, individuals over 55 in Australia are eligible to make a ‘downsizer’ money contribution towards …
Electric Cars and Fringe Benefits Tax
The Australian parliament have recently introduced new legislation that will make low and zero emission vehicles free from Fringe Benefits …
Attention Builders: Your QBCC Annual submission and lodging online.
The Queensland Building and Construction Commission (QBCC) is a statutory body that regulate the building industry in Queensland, established under …
Property Talk – Shifts in state taxes
Queensland has backed down on a country wide land tax assessmentThe QLD Government has taken a step back on an …
Starting a company and cash
Naturally, starting a company can require a lot of money as well as time, much of which is money that …
ATO and taxing fame: There are changes coming
Gold Coast social media influences beware – the Australian Taxation Office (ATO) is changing up how fame and image will …
Australian Interest Rates: How high will they go?
The Reserve Bank of Australia (RBA) board in the November 2022 meeting raised the cash rate by 0.25% resulting in …
The family home and tax: what you need to know
The family home and tax: What you need to know. When you sell your home, you don't owe any capital …