News
$20k instant asset write-off passes Parliament
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end ...
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Is your family home really tax free?
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s ...
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What’s ahead for 2024-25?
Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope ...
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What’s changing on 1 July 2024?
Here’s a summary of the key changes coming into effect on 1 July 2024: Tax cuts reduce personal income tax rates and change the thresholds. ...
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ATO fires warning shot on trust distributions
The ATO has warned that it is looking closely at how trusts distribute income and to who. The way in which trusts distribute income has ...
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The essential 30 June guide
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your ...
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Self-Audits – Staying on Top of Important Trends in Your Business
Busy leaders need to focus on the needs of customers, prospects, employees, regulators, suppliers and so on. However, we encourage these leaders to also take an ...
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Best Practices in Tax Planning for Business Leaders
Here are some guidelines to help business leaders manage their tax affairs in conjunction with their Accountants. Effective tax planning helps minimise tax liability, ensure compliance, ...
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Non-compete clauses and worker restraints under review
A new issues paper from Treasury’s Competition Review questions whether non-competes and other restraints are limiting job opportunities and movement. A recent Australian Bureau of ...
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Budget 2024-25
The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost ...
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The assault on professional services
The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative ...
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Warning on SMSF asset valuations
The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation ...
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