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Get ready for end of 2024 Financial Year
Get ready for end of 2024 Financial Year We are almost approaching the end of the 2024 Financial Year. This post provides essential information and...
Personal services income explained
Personal services income explained Introduction The personal services income (PSI) rules apply to income that is earned mainly from the personal...
On-boarding new employees
On-boarding new employees: When hiring new staff, there are certain steps you should follow to cover off on your tax, workplace, and superannuation...
Six super strategies to consider before 30 June
With the end of financial year fast approaching, now is a great time to boost your superannuation savings and potentially save on tax. Below are six...
Mortgage vs super – where should I put my extra cash?
Many of us wonder about the best vehicle to use for our extra savings. Is it better to direct extra savings to your mortgage or superannuation? As...
Damage or destruction of a rental property
What happens if your property is damaged from the results of a natural disaster, or by tenants? Such a situation can affect the types of expenses...
Taken goods for private use? Here’s the latest values
Taken goods for private use? Here’s the latest values Introduction The ATO knows that many business owners naturally help themselves to their...
Tax issues when dealing with volunteers
Tax issues when dealing with volunteers Introduction Tax issues when dealing with volunteers - From bushfire relief groups, sporting clubs,...
Give yourself a super gift this Christmas
Give yourself the ultimate gift this Christmas that doesn’t cost a thing – a super to-do list which is a gift that will benefit you now and in the...
Is that ute really exempt from FBT?
Is that ute really exempt from FBT? Introduction Recent media reports suggest the ATO may have concerns that some tradies could be taking...
Getting the most benefit from fringe benefits
Getting the most benefit from fringe benefits. Introduction The most cost-efficient benefit an employer can give an employee is one that is...
How to reduce your income tax bill using superannuation.
How to reduce your income tax bill using superannuation Introduction Did you know you can reduce your income tax by making a large personal...
Inherited overseas home – and the CGT exemptions
Inherited overseas home – and the CGT exemptions Introduction Young people who immigrated to Australia many decades ago are now, like other...
Discounting your Capital Gain
Discounting your Capital Gain Introduction The capital gains tax (CGT) discount can reduce by 50% a capital gain that you make when you dispose of...
Self-education – when is it deductible?
Self-education – when is it deductible? Introduction There is no specific provision in the income tax legislation that allows a deduction for...
Trusts – are they still worth it?
Trusts – are they still worth it? The recent ATO crackdown on trusts will no doubt have some business owners (and even some advisors) asking...
Tax Time: Unexpected first-time debts
Tax Time: Unexpected first-time debts Introduction For the first time, many Australians are finding themselves in a position where they are being...
Boost Your Business: 120% Deduction for Skills Training & Technology Costs
Boost Your Business with 120% Deduction for Skills Training & Technology Costs Introduction Discover the latest government initiative for...
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