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ATO interest charges are no longer deductible – what you can do
From 1 July 2025, ATO interest charges (GIC and SIC) are no longer tax-deductible. If you carry tax debt, leaving it with the ATO is now significantly more expensive. Leaving tax debts with the ATO used to be painful, but at least the interest was deductible. That...
ATO interest charges are no longer deductible – what you can do
From 1 July 2025, ATO interest charges (GIC and SIC) are no longer tax-deductible. If you carry tax debt, leaving it with the ATO is now significantly more expensive. Leaving tax debts with the ATO used to be painful, but at least the interest was deductible. That...
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Tax treatment of buying and selling ETFs
The ATO has released new guidance on the tax treatment of buying and selling exchange-traded funds (ETFs). In broad terms, ETFs are managed (investment) funds that trade on the ASX or another registered exchange. Generally, when you invest in an ETF, you are...
Payday Super: What You Need to Know
'Payday super' is set to change how superannuation guarantee (SG) payments are managed. Here's a closer look at what's coming and what it means for employers. What is Payday Super? Starting 1 July 2026, employers must pay superannuation guarantee (SG) on the same day...
Understanding the Tax Implications of Inheriting Assets
When thinking about passing on your assets, it's not just about deciding who gets what - there are tax implications to consider. How your assets are transferred to your beneficiaries can affect how much tax they must pay. This will depend on the asset type and the...
It wasn’t me: The Tax Fraud Scam
Picture this: You log into your myGov account and find that your activity statements for the past year have been altered, with $100k in GST credits issued. But you didn’t do this and certainly didn’t receive $100k in your bank account. The urgency of the situation...
Property and Lifestyle Assets Under the Spotlight
Do you own an investment property or perhaps a luxury asset like a boat or aircraft? The ATO is examining your tax return to ensure that what you declare adds up. The Australian Taxation Office (ATO) has introduced two crucial data-matching programs targeted at...
Divorce, You, and Your Business
Going through a divorce is tough, and it’s not just the emotional and financial strain you need to think about. Plenty of issues need sorting out, especially if you’re running a business. What Happens When There’s a Family Company? Suppose you and your partner have...
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Protect Your Business from Costly Division 7A Mistakes
Are you worried about making a costly mistake with your company finances? You’re not alone. The ATO has noticed a lot of confusion when it comes to Division 7A of the Income Tax Assessment Act 1936. Getting it wrong can lead to unexpected tax bills, audits, and stress...