Every business needs to be profitable in order to achieve its goals and deliver the outcomes the stakeholders require. The most successful businesses know what it takes...
The most valuable businesses have a clear plan that maximise the options for all stakeholders under various exit situations that could have an impact on them. Some of those trigger events are voluntary and some just happen without warning!
Enjoyable I hear you say... as you smile. If your business is not enjoyable, how long can you maintain your enthusiasm and energy and performance? In the war for talent...
This month we focus on several significant developments affecting employers, investors, business owners and SMSF trustees.While the Federal Budget was only handed down in May, the Government has already announced some changes to key proposals and we take a look at the latest developments. We...
If you run a business, you already know the juggling act that comes with managing cash flow, paying staff and meeting superannuation guarantee and payroll compliance obligations. From 1 July 2026, there is a major change coming that will reshape how you handle superannuation contributions for...
This month we unpack some of the most controversial proposals from the Federal Budget, including changes to negative gearing, the CGT discount and trust taxation. We examine key proposals and practical issues that can be considered now, even though some of the final details of the changes...
On Tuesday 12 May 2026 the Treasurer Jim Chalmers handed down the 2026-27 Federal Budget, framing some of the more significant announcements as part of a broader plan to help young Australians access the property market. While acknowledging that the key to housing affordability is supply, the...
This month we cover several practical updates that will matter for businesses and individuals as we head towards the financial year-end. The ATO’s revised EV home-charging rate delivers more generous deductions for work-related car claims and can impact on FBT calculations too. The Federal...
This month we step through the newly enacted Division 296 superannuation tax—what it means for those with large super balances, how it will operate in practice, and the planning opportunities now available. We also bring a clear message for business owners and high-wealth individuals:...
This month we focus on key developments and practical guidance for business owners, property holders, and SMSF trustees navigating complex tax obligations. We begin with a deep dive into Director Penalty Notices (DPNs), highlighting the Tax Ombudsman’s review in response to a 136% surge in...
This month we look at the ATO’s sharpened compliance focus across property, business incentives and emerging technologies. New draft guidance on holiday homes signals a much tougher approach to deductions for short-term rentals, particularly where lifestyle use blurs with genuine...
From payroll reform to professional development, this issue explores several important topics for businesses and investors. We unpack the new Payday Super laws that will soon change how employers handle super contributions and clarify when further study — like an MBA — can genuinely pay off at...
This month brings a mix of tax reform, real-world lessons, and practical planning insights. We unpack the Government’s latest announcements on the proposed overhaul of the super tax rules that will reshape strategies for those with balances above $3 million. A recent tribunal decision also...
The past few months have brought some important developments that could have real consequences for business owners, trustees, and investors. From a recent Tribunal case that highlights why timing and evidence are crucial when it comes to trust distributions (and more broadly), to the practical...
There’s a bit to report on. Standouts include the RBA’s interest rate cuts, the strategy for creating a more dynamic and resilient economy and in a win for over 3 million Australians with student debt – they’ll see some of it wiped away with the Government’s fiscal wand. We...
As we move into the 2025/2026 financial year there are some key changes in tax, superannuation and compliance that are set to impact on a range of individuals....
Inside this month, the top Christmas party questions, what is ahead in 2025, and why a signature basketball shoe developed in conjunction with Matthew Dellavedova failed the R&D incentive core R&D activities...
Inside this month, the Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer. We explore the impact and the issues for businesses engaging overseas team members.We also look at managing Christmas...
Inside this month, the myGov tax scams and how to avoid them. We’ve had a lot of requests asking for this article from member firms trying to keep their clients out of...
Inside this month, when is a gift really a gift and what happens if the ATO takes a different view, Divorce and your business, as well as the changes in how tax practitioners work with clients....
Inside this month, what’s ahead for 2024-25. Another year of volatility or a return to stability? Plus, is your family home really tax free?
Inside this month, we’ve delivered an essential 30 June guideoutlining the areas at risk of increased ATO scrutiny and the opportunities to maximise...
The Price is Right Budget 2024-2025
Posted by David on May 15, 2024Budget 2024-25 is a pre-election budget for the people with everyone getting a little something to ease cost of living pressures. Like the Price is Right gameshow, it will all come down to the price paid at the checkout. For business, there is the extension of the $20k instant asset...
Inside this month, the ATO’s ‘company money’ crackdown, should you be the ‘bank of Mum & Dad’, and do your kids really want to take over your...
Inside this month, the warning on ‘sloppy’ SMSF asset valuations, the ATO’s assault on professional services, and the review of non-compete clauses and worker...
Inside this month, the FBT traps including electric vehicles, the ATO’s debt ‘on-hold’ dilemma, how to take advantage of the 1 July super cap increase, and getting back what you put in – loans to get a business...
Inside this month, SMSFs and property development, and a recent property case where the evidence didn’t match the taxpayers claim, also the redesigned Stage 3 tax cuts....
The Redesigned Stage 3 Personal Income Tax Cuts.
Posted by David on Jan 29, 2024The personal income tax cuts legislated to commence on 1st July 2024 will be realigned and redistributed under a proposal released by the Federal Government. ...
Inside this month, the controversial case of the taxpayer who claimed a loss on their home, tax and Christmas, and the key 2024 influences!
Inside this month, the missing $3.6bn in super guarantee owed to workers, the issues when contractors are misclassified. The Chobani yoghurt case that tests the boundaries of GST-free foods,as well as the warning about redrawing investment loans....
Inside this month, the $20k deduction for ‘electrifying’ your business, and the implications of Victoria’s ‘Airbnb tax’. We also discuss self-education and what you can claim?...
Inside this month, the ‘TikTok scandal’. $1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of...
Inside this month, we discuss the blowback from the tax refund expectation gap, why succession is more than a TV show, and the implications and pitfalls of small scale...
Inside this month we walk you through the skills and training, and technology boosts – who can access them and how to make the most of them. Plus the rise of the digital games...
Inside this month, we review Tax Savings for the Taking!In the wise words of the late Kerry Packer to a Senate estimates committee, “Of course I am minimising my tax. And if anybody in this country doesn’t minimise their tax, they want their heads read.” Our newsletter covers our top...
Inside this month Last night, the government handed down its Federal Budget for 2023-24.As expected, Labor’s second Budget was filled with measures aimed at easing the cost of living over the coming years, addressing the challenges of a slowing economy, and bolstering the healthcare...
Inside this month, the ATO rental blitz – 1.7 million taxpayers will be drawn into the ATO’s residential investment property data matching program utilising bank data. Plus, the ATO’s expectations of ‘content creators’ from OnlyFans to...
Inside this month, We Cover tax and electric cars, company money – a guide for owners, the pros and cons of earn-out clauses, and what to expect from budget 2023-24 plus more Click on the headlines below to launch our newsletter and read more on these...
Inside this month, the updated approach to deductions for working from home and the requirements from 1 March, the ‘super’ wars, and what the ATO will be asking about your holiday home.And we include in our newsletter an opportunity for you, or a business owner you know to attend a...
Inside this month, we’ve taken ChatGPT for a spin to see the results – don’t panic, our example demonstrates that getting good advice from your trusty accountant is essential. Plus, we look at the downsizer contribution now that the age has reduced to 55, and the ATO’s...
Inside this Month,a very merry tax effective Christmas and more. We cover Better Pay’ legislation. While industrial relations is not very Christmassy…ok, not Christmassy at all. The Impact is a concern for Many Workplaces. Our Christmas article is on avoiding the FBT Christmas...
Inside this month, legislation before Parliament will lift the maximum fine for serious or repeated breaches of the Privacy Act from $2.2m to up to $50m. But can you really prevent a hack? The ATO is looking into how sportspeople and celebrities should be taxed. We are fast approaching the...
There is nothing in the 2022-23 Federal Budget 2.0 that will create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives. With seven months before the...
Inside this month, stage three tax cuts? What is legislated, the impact and the issues. Plus, the 589.9% increase in cryptocurrency assets inside SMSFs and the latest ASIC warnings on where it is all going wrong. ...
Inside this month we discuss, the new shorter domain name .au and the risks to your business and brand if you don’t act before Tuesday the 20th September, plus we go into the detail of the 120% deduction for skills training and technology costs and also collectibles inside the SMSF....
Inside this month, going green and FBT-free electric cars, claiming crypto losses, and how high does the RBA say interest rates will go (and do you believe them?)....
A reminder to check out our July newsletter, we explored tax on the family home, when/he main residence exemption applies, and cover divorce, renting a room AirBnB, and also operating a business from home . Plus, tips to overcome your customers fear of spending.And we include in our newsletter...
Inside June 2022; Tax Time target – four priority areas flagged this tax season where people are making mistakes What to expect from the new GovernmentDebt collection – ATO refocus If we can assist you, or perhaps a business owner you know, please share this email and give...
Inside this month We clear the confusion (as much as possible) on the 120% deduction for skills training and technology announced in the federal Budget. We also look at the ample number of changes coming into force from 1 July 2022, the director penalty regime ensures that directors are...
The 2022-23 Federal Budget2022-23-white-label/ is a safe, ballot box friendly Budget as expected with a focus on cost of living, home ownership, and health. Key initiatives include: A 6 month, 50% reduction in fuel excise with effect from midnight Budget nightA $420 cost of living tax ...
Inside this month, we explore the issues and the impact of the ATOs attack on trusts and trust distributions and the landmark High Court cases that changes the way the employer versus contractor relationship is...
Inside this month we explore what lies ahead of the Year of the Tiger economy, the finalised guidance from the ATO on professional firm profits and the tax deductibility of RAT...
Inside this month, we work through the process, timing and issues for establishing a Director ID under the new Director Identification Number regime that came into effect on 1 November. And, we incorporate the latest guidance from the ATO in our summary of the commonly asked questions about...
It won’t be long before we can stop talking about COVID-19 (won’t that be nice) but for now, with the Treasurer’s announcement that Commonwealth COVID-19 financial support will start to be withdrawn from 70% full vaccination and cease at 80%, that time is not...
Inside this month we look at the process of unwinding the pandemic for a return to “normal”. And, the new law that enables the ATO to share superannuation information with the family court during divorce proceedings and the superannuation gender...
Inside this month we look at Afterpay’s sales announcement (and the tax treatment of their shares if you happen to hold any), because we’re all a little curious about how you start a business in 2015 then sell it in 2021 for $39bn...
Inside this month, lock-downs and what help is available, the impact of the Government’s National Plan and business planning, and the positive and negatives of 6 member...
Inside this month, what’s changing on 1 July 2021, work from home expenses under scrutiny and the perils of browsing facebook, and how insurance proceeds are taxed. ...