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It’s that time of year when we all look at what last minute things we can do to maximise tax savings.
Bring forward the purchase of assets
If there are large assets your business needs to buy (or upgrade), you have until 30 June 2023 to use the temporary full expensing rules. These rules enable businesses with an aggregated turnover of up to $5bn..
1. Can I claim deductions on my holiday house?
The Government’s ‘Secure Jobs, Better Pay’ legislation passed Parliament on 2 December 2022. We explore the issues.
Sportspeople, media personalities, celebrities and ‘insta’ influencers beware. The ATO has taken a U-turn on how fame and image should be taxed.
New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how.
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.
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.
