Can you avoid giving the Australian Tax Office a gift this Christmas?
The top Christmas party questions
What can I do to make the staff Christmas party tax deductible or tax-free?
Not have one? Ok, seriously, it’s likely that you will pay tax one way or another; it’s just a question of how. […]
Will 2024-25 be another year of volatility or a return to stability?
Personal tax & super
As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the superannuation guarantee (SG) […]
The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue. A big part of the problem is how taxpayers are claiming interest on their investment property loans.
We’ve seen an uptick in ATO activity focus on refinanced or […]
Legislation currently being debated in Parliament will introduce a new criminal offence for intentional “wage theft”. If enacted, in addition to the criminal offence, a fine will apply. The fine is three times the underpayment and:
For individuals – 5,000 penalty units (currently $1,565,000).For businesses – 25,000 penalty units (currently $7,825,000).
The […]
What will the Australian community look like in 40years? We look at the key takeaways from the Intergenerational Report.
The 2023 Intergenerational Report (IGR) isa crystal ball insight into what we can expect Australian society to look like in 40 years and the needs of the community as we grow and […]
Anthony Albanese has been sworn in as Australia’s 31st Prime Minister and a Government formed. We look at what we know so far about the policies of the new Government in an environment with plenty of problems and no easy fixes.
The Economy
The Government has stated that its economic priority is, […]
Most people would think that money provided by the Government to support people and business during a crisis would be tax free? Otherwise, it’s like giving money with one hand and then taking it away with the other, isn’t it?But, the tax laws don’t work like that. To make a […]
The Government’s JobMaker scheme has created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses registering their interest in the scheme.
The hiring credit is available for jobs created from 7 October 2020 until 6 October 2021 and provides $200 per week for new employees between […]
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come […]
Every tax time is an opportunity for scammers to target the unwary.
This time around, the scammers are phoning and claiming to be from the prosecutions department of the ATO. They then state that they believe you have committed fraud and the Sheriff’s Office has been called. You can of course […]
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