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A reminder of what changed on 1 July 2022
Several changes to superannuation and taxation came into effect on 1 July. There are implications that every business and individual needs to be aware of. Here's a neat checklist to keep you informed.
Everyone knows you don't pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption.
The Reserve Bank of Australia raised interest rates in July by 0.5 percentage points, making the new cash rate 1.35 per cent. The RBA is raising rates in a bid to slow down, hopefully not stop, household spending. This, in turn, hopefully, slows..
As inflation returns, investors are now faced with a very different economic environment to the past decade. A decade of low-interest rates, low inflation and rising asset prices. You could forgive people for thinking that's just the way it is.
Recently the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.
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.
We talk to a lot of clients about the best strategies to maximise their superannuation balance prior to retirement. The more money you have in super when you retire, the more choice you have about your retirement lifestyle. At present, you and your..
It’s a great headline, isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving..
There are lots of reasons to keep fit, but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym membership isn’t available to most people. And yes, the Tax Office has heard all the arguments before about..
Business Taxpayers
Business taxpayers will need to prepare for the new year as well as the current year.
Prepare for the following:
