Tax Time Targets
The ATO has flagged four priority areas this tax season where people are making mistakes. With tax season almost upon …
Are Your Contractors Really Employees?
Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or …
Immediate Deductions Extended
Temporary full expensing enables your business to fully expense the cost of: new depreciable assetsimprovements to existing eligible assets, andsecond …
The ATO’s Attack on Trusts and Trust Distributions
Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts …
Pandemic Leave Disaster Payments rules change
The rules for the Pandemic Leave Disaster Payment, the payment accessible to those who have lost work because they have …
Cash injection for struggling businesses
Businesses struggling with the Omicron wave of the pandemic have been offered new grants and support in NSW, SA and …
PCR and RAT tests to be tax deductible, FBT free
The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from …
Professional Services Firm Profits Guidance Finalised
The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022. The …
Year of the Tiger: Roaring or Bellowing?
The 2022 Luna New Year, Year of the Tiger, is courage and bravery. It is a year to drive out …
Overseas gifts and loans in the spotlight
The ATO has recently issued an alert on gifts or loans from overseas. The ATO is particularly concerned about schemes …
Tax and the Normalisation of Cryptocurrency
The Australian Taxation Office recently updated its guidance on tax and cryptocurrency. In early November, the Commonwealth Bank announced that …
How to set up your Director ID
What is a director ID? A director ID is a 15 digit identification number that, once issued, will remain with …
What happens to your superannuation when you die?
Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund.  When …
Unwinding COVID-19 Relief
COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of …
Growing your business value
Over the next decade, as the baby boomer bubble of small and medium sized business owners roll through the system, …
Lockdown Support Update
The support available to individuals and business has been constantly evolving and changing. Here’s a summary of where support stands …
Afterpay’s $39bn pay day
Business advisers will tell you that you need to begin a business with the end in mind; a phrase popularised …
Your SMSF: when expenses and investments are not at arm’s-length
In general, all interactions between your SMSF and its members should be at arm’s length – that is, the terms …
Tax exemption for ‘granny flat’ arrangements
To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all …