Tax
FBT and festivities: what employers need to know
5 November
Find out if your staff parties, recreational activities and employee gifts will attract FBT. As the end of year approaches, many businesses celebrate with staff parties, events and gifts to recognise and reward their employees. If...[Read More]
Bold idea to starve off hunger, food waste in Australia
5 November
While some Australians go hungry, enough food to fill the MCG nine times over is thrown away by farmers and growers each year. A bold idea proposed by Australia’s top hunger relief charity could solve this, with tax relief touted as a potential...[Read More]
Top five fears of small business owners and how an accountant can provide solutions
30 October
Starting and running a small business is both rewarding and challenging. While the independence and potential for growth are appealing, small business owners often face numerous fears that can keep them up at night. From financial instability to...[Read More]
Governor takes aim at tax barrier to economic mobility
29 October
An age-old tax keeping empty nesters in huge homes while young families squeeze into apartments has drawn renewed ire from a frequent critic. Successive Reserve Bank governors have criticised stamp duty, the tax paid on property purchases. “My...[Read More]
How your relationship with your accountant evolves — from tax saver to trusted business partner
23 October
For many business owners, the first interaction with an accountant is purely transactional — a meeting once a year to “get the tax done.” At this early stage, your accountant’s role is clear: minimise your tax and keep you compliant with the...[Read More]
Super payout warning over cosmetic medical treatments
22 October
Tapping the compassionate release of super to fund inappropriate cosmetic procedures needs to be stamped out, the tax office and health practitioner regulators say. The warning comes as new ATO data shows a further jump in applicants seeking early...[Read More]
Treasurer defends $4b hit from super tax backdown
15 October
A $4 billion budget hole created by an overhaul of the government’s contentious super tax policy will be filled using other measures, the treasurer says. Labor is defending major changes to its planned superannuation tax hike, which will see the...[Read More]
‘Payday super’ popular but could challenge small firms
15 October
Australia’s superannuation industry and unions welcome new payday super legislation to align employer contributions with pay cycles, while others voice concern about the impact on small business. Treasurer Jim Chalmers on Thursday introduced the...[Read More]
We all want to pay less tax — but what does “Tax Minimisation” really mean?
9 October
It’s no secret: when tax time rolls around, most of us look for ways to reduce how much we owe. But there’s a big difference between smart tax planning and simply trying to avoid tax. The key term to know is tax minimisation — the legal and...[Read More]
Timeline set for easing of student debt burden
8 October
Some three million Australians with a student debt will soon see their balance owed reduced as the tax office prepares to implement a 20 per cent cut. The Australian Tax Office will apply the reprieve from mid-November and anticipates half of...[Read More]
Debt recycling explainer: Turning debt into wealth
2 October
For most people, debt feels like a weight to get rid of as quickly as possible. Paying off the mortgage or other personal debt is often seen as the ultimate financial goal. But there’s a strategy called debt recycling that flips the script:...[Read More]
Creative types say give us a tax break, for art’s sake
24 September
A punter betting on the Miles Franklin literary award gets to enjoy their windfall tax-free, unlike the winning author who pays a significant chunk of their $60,000 prize. The same is true for many prestigious arts awards, such as the $100,000...[Read More]
Keep electric car tax cut, remove pollution instead
17 September
Extending a tax cut for electric cars until 2035 could put another 1.5 million motorists behind the wheel of a low-emissions vehicle and significantly cut transport pollution, a study has found. The government could also fuel the supply of...[Read More]
Top 5 tax minimisation strategies for business owners
11 September
Running a business involves more than just generating revenue—it also means managing your tax obligations effectively. For many business owners, tax is one of the largest ongoing expenses, and without a considered approach, you could be paying far...[Read More]
Handy tax time tips for sole traders. Avoid these common mistakes and get it right this tax time.
10 September
We know small businesses work hard to get their tax and super right, however we understand mistakes can still happen. If you’re a sole trader, you can get ahead this tax time by avoiding these common errors: Not reporting all income – this...[Read More]