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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 of the financial year.
Will 2024-25 be another year of volatility or a return to stability?
The ATO has warned that it is looking closely at how trusts distribute income and to who.
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 deductions.
For business, the Government is picking winners through targeted public investment with its Future Made in Australia Framework that they are betting will pave the way for private investment in net zero transformation and the strengthening of..
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas regarding electric vehicles that are likely to attract the ATO’s attention.
It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering..
The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government.
Many professionals and businesses look to save tax and minimise risk by setting up companies and family trusts.
Generally, the more complex your structure, the more tax you may save but there are pitfalls in creating overly complex structures.
Here..
Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024? We explore some of the key issues and influences.
