by C&N Accountants | May 23, 2024 | ATO, Business, Small Business, Tax Audit
The ATO is tightening its grip on business owners who dip into company funds or use company resources for personal purposes. It’s not uncommon for business owners to blur the lines between their personal lives and their business, using company resources as if...
by C&N Accountants | Feb 26, 2024 | ATO, Business, Company Directors, Division 7A Loans, Small Business
Entrepreneurial ventures often commence with the business owner’s financial investment to fuel initial growth and operational stability. A recent legal proceeding underscores the necessity of navigating the complexities of tax legislation when managing company...
by C&N Accountants | Jan 29, 2024 | ATO, Income Tax, Tax & Accounting, Tax Planning, Tax Refunds
The Federal Government has recently announced a realignment of the personal income tax cuts, initially legislated to commence on 1 July 2024. This realignment is part of a new proposal that seeks to redistribute the tax cuts more effectively. Overview of the Amended...
by C&N Accountants | Dec 20, 2023 | ATO, Business, Small Business, Tax Planning
Uncertainty has cast its shadow over recent years, but are we finally in for a more predictable ride as we step into 2024? Let’s delve into the key factors influencing the landscape. Inflation and Labour Dynamics According to RBA Governor Michelle Bullock,...
by C&N Accountants | Dec 7, 2023 | ATO, Capital Gains Tax, Property Investment, Tax Deductions
There has been a recent controversy in the tax field due to a remarkable case in which a taxpayer, defying the odds, obtained a deduction for a significant loss from the sale of her home. In this blog, we will investigate the specifics of this surprising development...
by C&N Accountants | Nov 27, 2023 | ATO, Superannuation
Australia’s workforce is currently owed a staggering $3.6 billion in superannuation guarantee payments, as revealed by the latest estimates from the Australian Taxation Office (ATO). While on the surface, the compliance statistics for employer superannuation...
