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Understanding ‘Death Tax’ in Australia

Understanding ‘Death Tax’ in Australia

Contrary to popular belief, Australia does actually have some form of death tax that means you can’t just dump all your money into your super and get away with completely tax-free savings - it’s not a traditional death tax like the one Australia had prior to 1983, but...

Tax Scams to Watch Out for This Tax Season

Tax Scams to Watch Out for This Tax Season

It’s tax season, and people throughout the country are naturally a bit more likely to engage with any correspondence they receive from the ATO - problem is, the scammers know this, which is why they pose as government officials when undergoing phishing scams. This is...

ATO Outlines The Risk of Early Lodging

ATO Outlines The Risk of Early Lodging

The ATO makes it clear this year that you’re approximately twice as likely to make a mistake when you’re in a rush to lodge your tax returns on 1 July.  This stems from a statement released by Rob Thomson, the assistant commissioner for the ATO, when he mentions...

Tax Cuts Ready For July as Take Home Pays Will Increase

Tax Cuts Ready For July as Take Home Pays Will Increase

With the new financial year just days away, it’s imperative that you’ve got an understanding of what the new tax legislation looks like - namely the Stage Three tax cuts. Treasurer Dr Jim Chalmers outlined exactly how these new tax reforms will play out in the new...

Strategy Planning for The 2024 EOFY

Strategy Planning for The 2024 EOFY

The EOFY is rapidly approaching, and for 2024, we’d suggest focusing on these three points in particular - especially in the face of the forthcoming Stage 3 tax cuts: Understanding indexation and what effects it has Superannuation contributions Salary sacrificing...

FBT Return Guide for 2024

FBT Return Guide for 2024

The 'FBT gap' is currently around $1.3 billion, according to the ATO, and as such, they're planning on cracking down on employers and enforcing more stringent rules regarding FBT compliance - here's what you need to know: Is It Worth Registering for FBT? If you...

Changes to FBT In 2024

Changes to FBT In 2024

Understand what your new responsibilities for FBT are as an SME – from car fringe benefits to purchasing new motor vehicles in general.

How to Maximise Your Super Contributions For Later In Retirement

How to Maximise Your Super Contributions For Later In Retirement

You’re required by law to make contributions to super to give you enough funds in your retirement years, which means making the most out of these contributions is really going to help you stay financially secure for longer: Understand Contribution Types Know the...

ATO Alerts on ‘Double Dipping’ Work-From-Home Deductions

ATO Alerts on ‘Double Dipping’ Work-From-Home Deductions

As tax time for 2024 in Australia approaches, one of the ATO assistant commissioners, Rob Thomson, has outlined some of the main errors that are being made regarding WFH-related expenses - primarily expressing the importance of understanding the two main methods that...

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