Many Australian retirees find that they want a smaller home, or a home more suited to their empty-nest requirements. For some, selling the family home can be a great way to release built-up equity to pay for retirement living expenses or in-home support that will allow them to stay at home longer. Older Australians are the beneficiaries of the fed...
Christmas Parties and Gifts
10/12/2019
It is the season to be jolly! Well that is what the Australian Taxation Office says when providing a reminder to employers about Christmas gifts and parties!
Single Touch Payroll – All employers must now comply!
25/09/2019
Since that time the ATO has been working in conjunction with the software industry to ensure the transition for these business types would be as smooth and as low cost as possible. We have been proactively encouraging or facilitating our clients to transition to STP and looking for solutions to lodgement requirements under the new regime.Whilst 1 J...
Superannuation changes effective 1st July 2019 – Does this affect you?
09/07/2019
From July 1, super funds are required to cancel default life insurance policies in funds where members have not made a contribution for 16 months, unless members actively "opt in" to the policy or reactivate the account.
Removing tax deductibility of non-compliant payments
03/07/2019
As part of the government’s efforts to combat the black economy, and in response to the recommendations from the Black Economy Taskforce, a raft of new measures have been introduced to impose additional incentives for businesses to comply with their obligations.
Small & Medium Business Instant Asset Write-off – Increase means big win for more businesses
24/05/2019
With the Federal Election now out of the way, many businesses will turn to considering whether there might be any opportunities to reduce their tax liability for the year about to end on 30 June 2019. Just prior to calling the election, the Government managed to pass legislation extending the scope of its instant asset write-off. As a result, eli...
Labor’s tax and superannuation policies
19/03/2019
As we approach the inevitable but as yet unannounced 2019 Federal Election, Australians are starting to consider policies of the major parties, and we are particularly interested in the policies related to tax and superannuation.
NEWSFLASH: Single Touch Payroll extended to small employers!
06/12/2018
After a long period of uncertainty, the legislation extending the electronic Single Touch Payroll (STP) reporting regime to employers with 19 or fewer employees was agreed to by the Senate on 5 December 2018.
Christmas Parties and Gifts
29/11/2018
With the festive season fast approaching it is a good time to revisit the Fringe Benefits Tax (FBT), GST and income tax implications associated with the holiday season, in particular the Christmas functions and gifts that businesses may provide to staff and clients at this time of the year.
Foreign residents to lose access to main residence exemption
02/08/2017
Perhaps guided by the assumption that most foreign residents do not vote, the Government has expanded the raft of measures clawing back tax concessions from those who are not Australian residents for tax purposes (including in many cases Australians who reside overseas). One of these new measures announced in the Federal Budget in May, was the prop...