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Labor’s Victory: What It Means for Taxpayers, Small Business and Super
Labor’s election win means changes are coming for your tax, super, and household budget. Here's what you need to know to prepare – and what’s still on the table. What tax cuts are coming for individuals? The Federal Budget has locked in personal income tax cuts from 1...
Labor’s Victory: What It Means for Taxpayers, Small Business and Super
Labor’s election win means changes are coming for your tax, super, and household budget. Here's what you need to know to prepare – and what’s still on the table. What tax cuts are coming for individuals? The Federal Budget has locked in personal income tax cuts from 1...
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Company Money Crackdown
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 they...
ATO Sends a Clear Message on Trust Distributions
The ATO is closely monitoring how trusts distribute income and to whom. Trust distribution arrangements have been under intense scrutiny in recent years, so trustees must carefully consider their steps before appointing or distributing income to beneficiaries. ...
Attention SMSF Trustees: ATO Eyes are on Repeated Asset Value Reporting
The ATO has flagged some concerns for SMSF trustees about the casual approach some are taking to asset valuations. More than 16,500 self-managed super funds have recorded the same asset values year after year for three years straight. Many of these are tied up in...
Federal Budget 2024-25: Election Timing, Tax Cuts, and Energy Relief
The 2024-25 Federal Budget marks the third round under the Albanese Government. As we've seen in past years, the big talk is about managing the cost of living pressures and steering the economy towards net zero emissions. Election expert Antony Green considers the...
How Much Is My Business Worth? Key Factors to Consider
Have you ever wondered what your business is worth? If you're like many small business owners, your business isn't just another asset; it's likely your biggest one and probably a significant part of your retirement plan. So, what makes some businesses fetch a high...
Revised stage 3 tax cuts confirmed for 1 July
The revised stage 3 tax cuts have been approved by Parliament and will be effective from 1st July 2024. It is advisable to review any salary sacrifice agreements before the new tax rates take effect to ensure that they still align with your desired outcome. If...
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Will Your Loved Ones Struggle to Access Your Super When You Die
Losing someone you love is hard enough. The last thing your family needs is the added stress of delays and complications when trying to access your superannuation. Unfortunately, this is a reality for many Australians. That's why the Australian Government is moving to...
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...
What’s Ahead for 2025?
The past few years have brought plenty of uncertainty, but 2025 offers the hope of greater stability - though there are no guarantees. Here’s a look at the key changes and challenges shaping the year ahead. A Federal Election is Looming Prepare for political...
Say Goodbye to Cheques: What You Need to Know About the Transition
In response to the changing landscape of payments, the government has announced a plan to phase out cheques. The key dates to remember are: cheques will no longer be issued after 30 June 2028 and won’t be accepted after 30 September 2029. The Government is also...