Four priorities for the ATO this Tax Time In the middle of May, the ATO announced that there will be four focus areas on their radar during Tax Time 2022 – record-keeping, work-related expenses, rental property income and deductions, and capital gains from crypto...
30 June Tax Planning As we move towards the end of the 2021/22 financial year, there are a number of year-end income tax planning opportunities that may be available to optimise your tax position. Temporary full expensing Are you contemplating asset and equipment...
Financing motor vehicles A common question facing businesses is how to finance and account for the acquisition of a motor vehicle. There are numerous ways that can be used, with each having unique taxation treatment. 1. Outright purchase The advantage of purchasing a...
2022 Federal budget wrap – what’s in it for you and your business? The 2022/23 Budget was handed down last night by the government. While there was some targeted, boutique assistance for small business, the Budget was very much focused on addressing cost of living...
Stapling super: Reducing multiple accounts for employees The new legislation will ensure that when an employee moves jobs, the super fund they used with their former employer will be ‘stapled’ and will automatically follow them. Under current rules, if an employee...
Buying a new home before selling the old one: The ins and outs Sometimes an individual or couple decides to buy a new home before selling their existing one. In such cases, a concession exists that allows for both houses to be treated as a main residence for up to six...
