Articles

Operation Protego: detecting GST fraud

Operation Protego: detecting GST fraud The ATO has lifted the lid on its most recent operation to stamp out GST fraud,...

Foreign investors and residential property

Foreign investors and residential property With the government encouraging the return of foreign investors to...

Employees vs contractors: more clarity coming

Employees vs contractors: more clarity coming The High Court recently handed down a significant decision dealing with...

Are cryptocurrency losses from scams deductible?

Are cryptocurrency losses from scams deductible? With the recent collapse of a second Australian cryptocurrency...

Div 7A and financial accommodation

Div 7A and financial accommodation The ATO has recently released a significant draft ruling around Div 7A, which...

Changes coming for cryptocurrency and digital assets

Changes coming for cryptocurrency and digital assets It is estimated that more than 800,000 Australians participated...

Temporary full expensing of assets extended

Temporary full expensing of assets extended The temporary full expensing of depreciating assets has been extended for...

AAT to get more powers to help small businesses

AAT to get more powers to help small businesses The AAT may soon be given more powers to help small businesses if a...

Get ready for FBT

Get ready for FBT Employers who have provided their employees with fringe benefits will need to lodge a FBT return and...

Check your PAYG instalments

Check your PAYG instalments The PAYG instalment system allows a business to spread its income tax liability across the...

Non commercial losses safe habour – natural disasters

Non commercial losses safe habour - natural disasters Where an individual, either alone or in a partnership, carries...

Tax Deductions

Tax Deductions How do tax deductions work? The basic Australian income tax formula is: Tax rate x taxable income = tax...

Tax Refund & Tax Payable

Tax Refund & Tax Payable How does a tax refund or tax payable happen? The basic tax refund formula is: Tax...

Trust Tax

Trust Tax Trusts evolved in England in response to representations for a Court of Chancery. This court brought in a...

Pet Sitter Tax Tips

Pet Sitter Tax Tips As a pet sitter in Australia, you need to be aware of any income tax obligations you might have....

Company Tax

Company Tax - Introduction For taxation purposes, a company is defined at section 995-1 of Income Tax Assessment Act...

Travel Tax Deductions

Travel Tax Deductions Employees’ travel expenses The Australian Taxation Office (ATO) has issued taxation ruling TR...

Entertainment Tax Deductions

Entertainment Tax Deductions Division 32 of the Income Tax Assessment Act 1997 (ITAA 97) contains the rules relating...

Car Tax Deductions

Car Tax Deductions Deductible travel – self-employed and employees Motor vehicle expenses incurred in the course of...

Investment Property Tax

Investment Property Tax When purchasing an investment property, it's essential to realise that tax isn’t the most...

5 Ways to Partner with Your Accountant

5 WAYS TO PARTNER WITH AN ACCOUNTANTNowadays, you can partner with your accountant. The days when you only saw them...

How to Choose an Accountant

HOW TO CHOOSE AN ACCOUNTANTThere are a number of issues to consider when choosing an accountant. Some issues will be...

Small Business Financial Reports

WHY ARE SMALL BUSINESS FINANCIAL REPORTS USEFUL?As a small business owner, it is important that you review your...

5 Ways to Partner with Your Accountant

5 Ways to Partner with Your Accountant   Nowadays, you can partner with your accountant. The days when you only...

Small Business Financial Reports

Small Business Financial Reports: Why are They Useful?   As a small business owner, it is important that you...

How to Choose an Accountant

How to Choose an Accountant   There are a number of issues to consider when choosing an accountant. Some...

GST – Property Development

GST - Property Development There is only a liability to GST where: an enterprise is being carried on, the annual...

GST Property Traps

GST Property Traps The first issue to be resolved with any sale of real estate is whether there is a GST liability. ...

GST Margin Scheme

GST Margin Scheme Entities registered for GST and making taxable supplies can reduce their GST liability by choosing...

GST – Overview

GST - Overview GST (Goods and Services Tax) is ultimately paid by the end user at a certain rate on the supply of most...

How to Set Up an SMSF

HOW TO SET UP AN SMSFIf you have decided to take the front seat in driving your superannuation, then this article will...

Superannuation Rules

Superannuation Rules The rules around superannuation, and superannuation in...

How to wind up an SMSF

How to wind up an SMSF The winding up of an SMSF is the process by which all the assets of the fund are paid out or...

SMSF Administration

SMSF Administration - An Overview There are a number of options available to you as an SMSF trustee as to how you can...

SMSF Tips & Traps

SMSF Tips & Traps If you manage your own SMSF (Self Managed Super Fund) then you probably already know that there...

SMSF Bitcoin

SMSF Bitcoin Is Bitcoin an investment that you should be considering for your SMSF (Self Managed Super Fund)? In this...

SMSF Borrowing for Property

SMSF Borrowing for Property If you’re considering whether to borrow for a property through an SMSF (Self Managed Super...

SMSF Insurance

SMSF Insurance It’s a legal requirement for an SMSF Trustee to consider taking out insurance coverage for their SMSF...

SMSF Pension

SMSF Pension There are two types of SMSF (Self Managed Super Fund) pensions:  An account-based pension. A...

SMSF Trustee

SMSF Trustee An SMSF (Self Managed Super Fund) must have a trustee structure. A trustee is a legal term that refers to...

Fringe Benefits Tax FBT

Fringe Benefits Tax FBT FBT was introduced into Australia in 1986 by the Fringe Benefits Tax Assessment Act 1986 (“FBT...

Salary Packaging – Salary Sacrifice

Salary Packaging - Salary Sacrifice Salary packaging, also referred to as salary sacrifice, involves an employee...

Car Salary Packaging

Car Salary Packaging Car salary packaging (salary sacrificing) will not always save you money, despite what salary...

CGT – Property Development

CGT - Property Development The revenue/capital distinction It is very important to determine whether the property is...

CGT Earnout Arrangements

CGT Earnout Arrangements Capital Gains Tax (CGT) Earnout arrangements are generally where a business is sold for a set...

Allocating value to business assets

Allocating value to business assets When selling/buying the assets of a business, for CGT and depreciation purposes it...

CGT Main Residence Exemption

CGT Main Residence Exemption The capital gains tax (CGT) provisions in the Income Tax Assessment Act 1997 (ITAA 1997)...

CGT (Capital Gains Tax)

CGT (Capital Gains Tax) The CGT provisions were introduced with effect from 20 September 1985.  They generally apply...

Small Business CGT Concessions

Small Business CGT Concessions This article is a brief overview of the small business capital gains tax (CGT)...

Business Structures

BUSINESS STRUCTURESThis article is an overview of the most common business structures for small to medium-sized...

Money and your small business

Money and your small business Running a business means you need to wear quite a few hats; Managing your time,...

Asset Protection

Asset Protection Asset protection is one of the most important issues when considering wealth building. How tragic it...

Business Structures

Business Structures This article is an overview of the most common business structures for small to medium sized...