The Government has opened submissions for a 120 percent deduction for tech and training investment, bringing previous Federal Budget announcements one step closer to becoming reality. Business leaders have applauded the move to legislate two measures that will allow organisations…
Growth is important when it comes to business. To remain viable most companies need to keep evolving, staying ahead of their competitors and innovating to meet the needs of a continually changing marketplace. It’s also personally gratifying to feel a…
You can generally claim a tax deduction for most expenses you incur, as long as: the expense relates directly to earning your business’s assessable income you only claim the business-use portion of an expense that's for a mix of business…
The ATO is cracking down hard on GST frauds after finding a significant number of taxpayers falsely claiming GST refunds. The Serious Financial Crime Taskforce and Australian Federal Police (AFP) have executed numerous warrants against suspects, with a GST fraudster recently jailed for three…
Recent changes to the rules around voluntary superannuation contributions which impact the amount you can transfer into a super pension account, have meant that many older Australians are considering setting up a family trust. Trusts can be an effective way…
Small business owners can often fall into old habits at tax time, without considering some of the less obvious or most recent ATO tax deductions available. Make sure you claim absolutely everything you’re entitled to and minimise tax for the…
With money becoming tighter as inflation rises, many people are looking to make some extra income from a ‘side hustle’. As we move towards a cashless society and transact more online, it’s becoming easier for the ATO to follow the…
Most small businesses and independent contractors have a website these days. If you are planning to launch a new website or refreshing an existing one, it’s important to understand the tax implications. As with all things tax, it’s not always…
Life seems to be getting busier year after year, especially in the workplace. Just as well there are measures we can take to increase productivity and create efficiencies within not only our workplace, but our personal life as well. Automation…
Just when you thought you had all your systems bedded down for Single Touch Payroll (STP), from the start of next year the government is expanding the information on employee payments you need to provide. So, what will the changes…