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The Rise of Rooming Houses as a Smart Investment

The Rise of Rooming Houses as a Smart Investment

Australia’s chronic housing shortage continues to shape the property market, with no immediate resolution in sight. This issue affects both major capital cities and regional areas, spurring various government initiatives to address affordability and increase supply....

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When is a Gift Not a Gift?

When is a Gift Not a Gift?

Imagine receiving over $1.6 million in your bank account and thinking it’s a generous gift. But what happens when the Tax Commissioner decides it’s actually income, and you’re suddenly facing a hefty tax bill? That’s exactly what happened in the intriguing case of...

Will 2024-25 be another year of ups and downs or a return to calm

Will 2024-25 be another year of ups and downs or a return to calm

Personal tax & super As you may be aware (thanks to the $40 million public education campaign), personal income tax cuts became effective on 1 July 2024. At the same time, the superannuation guarantee (SG) rate jumped by 0.5% to 11.5%. For employers, it's crucial...

ASIC fees for 2024-25

ASIC fees for 2024-25

In line with an increase in the Consumer Price Index (CPI) for the March quarter, some of ASIC's fees are increased each year from 1 July. Below is a list of fees for some of our ASIC's frequent lodgements. GST does not apply to ASIC fees. Company fees Company...

Is your family home really tax-free?

Is your family home really tax-free?

When it comes to capital gains tax (CGT), the main residence exemption can help keep your family home tax-free when you sell it. However, like most tax matters, it can sometimes be complicated. As Darryl Kerrigan famously said in *The Castle*, "It's not a house. It's...