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...
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. ...
Your knowledge Federal Budget 2021-2022
Posted by Marsdens Admin on May 12, 2021The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. It is also a human budget (cynics would say voter focussed), with $17.7 billion dedicated to aged care, more money in the...
Inside this month, we look at the new lifetime Director ID regime and what it will mean to existing and new directors, the impending CGT exemption for granny flat arrangements, and the questions we get on SMSF expenses and investments that are not at arm’s...
Inside this month, the impact of the 1 July 2021 indexation changes to superannuation, increases to superannuation caps, why the profits of professional services firms are being targeted by the ATO, and JobMaker fails to make a dent on unemployment....