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News highlights

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should you be the The 'bank of mum & dad'?

The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst. 

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Company money crackdown

The ATO is cracking down on business owners who take money or use company resources for themselves

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the 120% deduction for skill training and technology costs - Part 1

It is a great headline, isn't it? Spend $100 and get a $120 tax deduction. But, there are a few problems.

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who needs a director ID?

All directors of a company, registered Australia body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID. How to register?

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why is my tax refund so small?

The tax refund many Australians expect has dramatically reduced. We show you why.

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'downsizer' contribution to superannuation

From 1 January 2023, those 55 and over can make a 'downsizer' contribution to superannuation. 

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Stage three personal tax cuts

Heading into the 2022-2023 Federl Budget on 25 Oct, the question for Australian Government is not whether to introduce personal income tax cuts but whether to keep, amend or repeal the cuts legislated to commence on 1 July 2024. 

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FBT-free electric cars

New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. Who can access the concession and how?

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what is the best way to sell a business

There are two key components at play in the sale of business: structuring the transaction; and positioning the business to the market. 

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pandemic leave disaster payments rules change

The new rules change the definition of a close contact in line with the harmonised national definition.

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Can i claim my crypto losses?

The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return. 

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growing your business value

Over the next decades, as the baby boomer bubble of small and medium sized business owners roll through the system, Australia will experience one the largest transfer of business wealth in its history.

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what TO EXPECT FROM THE NEW GOVERNMENT

Anthony Albanese has been sworn in as Australia's 31st Prime Minister and a Government formed. We look at what we know so far about the policies of the new Government in an environment with plenty of problems and no easy fixes.

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tax and the family home

The main residence exemption that excludes your home from capital gain tax and the trigger that reduce or exclude that exemption.

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what sharing platforms are shraing with ato?

From 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term accommodation to report their transactions to the ATO each year. 

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Fuel tax credit changes

The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel, and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022.

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can i claim a tax deduction for my gym membership?

In general , a tax deduction for fitness expenses is only available if your job requires you to have an extremely high level of fitness.

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