The June edition of Tax & Super is available for you to read. In this edition we will be covering the following topics. The tax treatment of cryptocurrency New guidance on “personal services income” rules Briefing a barrister The ATO’s eligibility requirements for SMSF trustees or directors The newsletter is available here. As always if you have any questions, do hesitate to reach out to us on 03 9680 1000. Read more
The Not for Profit Advisor newsletter has just been released. In this issue, you will find information on the following. Aged Care: Elderly to come first Increasing Financial reporting thresholds for ACNC Registered Charities Charity Activity Bans Broadened Steps towards minimising fraud New guidance on whistleblowing Breakthru back-pays more that 2.7m AAT Upholds ACNC ruling All of these categories and more can be found here. Read more
The Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses. In this release of Tax & Super, we provide a special budget edition. It includes the following items: Superannuation and Related Measures Housing Business Welfare Individuals You can find out more here. Read more
Treasurer Josh Frydenberg’s second pandemic Budget, and possibly his last before the next federal election, is a big spending Budget aimed squarely at a swift economic recovery. As widely tipped, the focus is on jobs, aged care, childcare, women and first -home buyers with some superannuation and tax sweeteners added for good measure. As always, if you would like to discuss how the Budget might impact your finances, don’t hesitate… Read more
The Federal Budget for 2021-2022 was announced last night. This guide provides you with the following information The Budget 2021-22 – A Continued Win for Small Business The Federal Budget – Tax Measures The Federal Budget – Superannuation Changes Continuing the SME Recovery Loan Scheme JobKeeper Overpayments Family Assistance Payments and more……….. Please click here to read the Tax Matters guide. As always, if you need further clarification, please do… Read more
Welcome to the May edition of Tax & Super. This is your monthly tax and super update keeping you on top of the issues, news and changes you need to know. In this edition we will be covering the following topics. EOFY tips for your tax plan Dealing with excess before-tax super contributions The SME Recovery Loan Scheme is now open Evidencing SMSF property valuations Independent audit review for small… Read more
The Autumn edition of Business Matters is now available for your perusal. This edition covers topics as listed below. JobKeeper is over – where to from here Fringe Benefits Tax Time The Importance of Business Planning Contractor Agreements – the case of Dr Moffet And more……. Click on the link Business Matters Autumn 2021 to read in detail. Read more
The Year End Strategies tax guide for 2020-2021 guide is now available. In this edition we will cover the following topics. Significant Changes to Instant Asset Write-off 2021 End of Financial Year Checklist Gains or losses from Cryptocurrency Tax Tips for Property Investors and more…… The guide can be read here. Feel free to contact us if you have any questions. Read more
April begun with a welcome Easter break. As the vaccine roll-out continues, restrictions ease, and life is a little closer to normal despite occasional setbacks. It’s not often that boring bonds make headlines, but they have lately due to a sharp rise in interest rates. In this snapshot, we discuss what rising bond rates tell us about market expectations around economic growth and inflation. We also look at the possible… Read more
The new edition of Super Matters is now available. Topics include the following: Changes to contribution and pension caps; The work test; What is “Retirement”; Super versus Home Loan You will find all of the information in this link Super Matters Autumn 2021 Read more
It’s February, the kids are back at school and the nation is getting back to business. It’s still not business as usual, but with the vaccine rollout about to begin there is a growing sense of optimism. There has been a lot of debate in recent years about self-managed super funds (SMSFs) and how much you need to have in them to make them cost-effective. So in this month’s snapshot,… Read more
What the “full expensing” write off deduction means for business The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary. Click here to read the newsletter Read more
Not-For-Profit Newsletters: Issue 24 – Jul2020 Issue 25 – Sep2020 Issue 26 – Nov 2020 Issue 27 – April 2021 Read more
As the impact of the Coronavirus on our daily lives and livelihoods rapidly evolves, below are the latest measures released by the Government to reduce both the impact to the nations health, economy, household and business finances. More businesses and not-for-profits will be eligible for JobKeeper payment extension under a $15.6 billion change to the scheme announced on August 7. The Government initially outlined the JobKeeper extension guidelines on July… Read more
Winter 2020 Winter is here and we are almost at the end of another financial year. And what a year it’s been! With so many Australians impacted by fires, floods, drought and now COVID-19, let’s hope the new financial year sees a return to something like normality. As Australians head back to work and school thoughts are turning to rebooting the economy, so we survey the road to recovery as the first article in our Winter newsletter.… Read more
Last-minute tax planning tactics This financial year is almost over, but there are still effective strategies you may be able to employ to make sure you pay the right amount of tax for the 2019-20 year and maximise any refund entitlement. This is still, if not more so, the case in the current COVID-19 environment. Click here to read the newsletter Read more
Answers to COVID-19 work-from home expense questions and CGT concerns There are many questions being asked lately about claiming expenses when forced to work from home over the COVID-19 period, plus a lot of concern about any consequent capital gains issues when later selling a property from which people have been coerced to work from during this time. What we cover in this issue: Work-from Home Expense and CGT Concerns… Read more
Welcome to our May publication. After an extraordinary month of social and economic hibernation, there are positive signs that some of the restrictions on our everyday lives will soon be loosened somewhat. This is welcome news for households, businesses and our economy. Within a matter of months Australia has gone from having an essentially healthy economy to one in need of resuscitation. The Morrison Government has stepped in with unprecedented… Read more
Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if reliable clients also fall behind one month, the result can be devastating. These tips will… Read more
Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support… Read more