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Temporary full expensing (in the first year of use) enables your business to fully expense the cost of:
- new depreciable assets
- improvements to existing eligible assets, and
- second-hand assets
Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the..
The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from fringe benefits tax (FBT) for employers if purchased for work purposes.
McDonald’s Australia has been convicted and fined for failing to provide documents to the Australian Taxation Office (ATO).
The ATO has finalised its guidance on the Allocation of Professional Firm Profits (or commonly known as income splitting) that will apply from 1 July 2022.
Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are our top tips.
A lighter look at the complexity of Australian taxation laws and the year that has been.
The ATO is watching out for taxpayers attempting to avoid or evade tax on their foreign assessable income by disguising amounts as gifts or loans from a related overseas entity. This increased ATO attention has come about with the proposed changes..
Directors are now required to register for a unique identification number that they will keep for life.
Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee..
