Accounting and Tax

The Australian Taxation Office (ATO) has kicked off 2025 by announcing its key focus areas for small businesses. In this Tax Alert March 2025, the ATO has also signalled a tougher stance on super guarantee (SG) compliance and GST fraud. Here’s a roundup of the latest...

Employers need to ensure that payroll systems reflect recent legislative changes, while the ATO is highlighting deduction opportunities available to some small businesses. Here is your roundup of the latest tax news. Update employer obligations The ATO is reminding...

The Australian Taxation Office (ATO) has provided a heads-up about the areas it will be focussing on when reviewing tax returns this year. The ATO says there are three common tax return mistakes made by taxpayers: Incorrectly claiming work-related expenses  Inflating...

With less than a month to go before the end of the financial year (EOFY), some important tasks need to be completed for a family trust. Discretionary trusts (often called family trusts) are the most common type of trust used in Australia and are generally created to...

Taxpayers can look forward to a tax cut starting from July 1, thanks to the centrepiece of the Federal Budget delivered in May. On average, taxpayers will save around $36 a week under the new rules, which were legislated in February. The lowest tax rate in 2024-25...

New controls for ATO Online and tax charges non-deductible. Following the use of stolen personal data to access ATO Online accounts, the federal government has tightened access rules to online tax accounts as part of an increased focus on the vulnerability of small...

Prime Minister Anthony Albanese recently announced proposed changes to address ongoing cost of living pressures with all 13.6 million Australian taxpayers receiving a tax cut from 1 July 2024, compared to the tax they paid in 2023-24.i Now is the time to assess what...

The ATO is getting back to business. The lenient approach taken by the ATO during the pandemic is over, with its focus now returning to traditional debt collection. With several key areas under the spotlight, some small businesses should consider taking advantage of...

Withdrawing part of your superannuation fund balance then paying it back into the account, known as a recontribution strategy, may sound a little strange but it could deliver several benefits including reducing tax and helping to manage super balances between you and...

Lodgement amnesty and new landlord data matching program. While the government is boosting the tax deductions available for small business spending on staff training, other taxpayers such as landlords are facing closer scrutiny from the Australian Taxation Office....

Ensuring you’ve structured your finances tax-effectively is always a concern, but with new tax rules for super on the horizon, many people with large balances are considering alternative vehicles to save for retirement. Unsurprisingly, this has sparked a renewed...

Although this year’s Federal Budget was short on big changes when it came to tax, there have still been some important developments in this area. Here are some of the latest developments in the world of tax. Small business tax incentives and write-offs The budget...