News

The ATO is generally making an effort to promote more sustainable business practices for the future, and part of this includes an energy incentive that’s directed towards small businesses in particular. This announcement was made on the 30th of April 2023, and the...

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...

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...

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...

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...

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...

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...

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

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...

The end of the financial year is coming and that means tax time. This means the Australian Taxation Office (ATO) is carefully reviewing the areas where taxpayers may try to pull the wool over their eyes, or accidentally make mistakes in their claims, to...