Tax Savings For the Taking!
It’s that time of year when we all look at what last minute things we can do to maximise tax savings. In the wise words of the late Kerry Packer…
It’s that time of year when we all look at what last minute things we can do to maximise tax savings. In the wise words of the late Kerry Packer…
A friend’s accountant suggested that they could reduce interest on non-deductible debt by using company cash to offset their personal mortgage, then transferring the cash back by 30 June. Is…
From 1 July 2023, access to the Government’s Home Guarantee Scheme will be expanded to joint applications from “friends, siblings, and other family members” and to those who have not…
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is…
The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice…
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000. The Small Business Energy Incentive…
The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update the next day on the important issues to you, your superannuation and your…
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid…
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.…
Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider. Business transactions often include earn-out clauses…