Accounting and Tax

The principle of ‘salary sacrificing’ may not sound very appealing. After all, who in their right mind would voluntarily give up their hard-earned cash. But it can have real financial benefits for some in terms of reducing your taxable income, which could see you pay...

As the Australian Taxation Office (ATO) turns its attention to businesses and individuals who have used COVID-related support programs, many taxpayers are likely to find themselves on the tax man’s radar. There are a number of red flags that can spark the ATO’s...

Individuals and small business owners who have taken advantage of the government’s COVID-19 support programs will find themselves increasingly under the tax man’s microscope in coming months. This is just one of the key developments occurring in the world of tax at...

Like trees losing their leaves in autumn, why not take a leaf out of their book and choose this time of year to shed some of your own financial baggage. In the style of Marie Kondo, the Japanese organising whizz who has inspired millions to clean out their cupboards,...

As the economy starts to recover from COVID-19 shutdowns, some sectors may take longer than others to return to their normal operating capacity and some companies may never fully recover. That means there is still the chance that some employees could be made...

For many business owners, fear of incurring a Fringe Benefits Tax (FBT) bill has kept them from retraining and re-skilling their employees to perform different roles or activities within the business. But a new exemption announced by the government as part of last...

After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax. With the Reserve Bank reducing interest rates to...

With more older Australians looking to downsize and younger generations eager to get a foot on the property ladder, building a granny flat or a second dwelling in your backyard has become an increasingly popular and affordable solution. In 2023, a CoreLogic analysis...

With the end of financial year approaching, now’s the time to make the most of opportunities to maximise super and tax benefits. Superannuation For many people, super remains a highly tax-effective structure through which to hold investments to accumulate retirement...

At a time of uncertainty about the economy, not to mention unexpected social isolation, people are rethinking their personal and financial priorities. Whether you are spending less by necessity or because you are living more simply at home, this could be a good time...

A key part of the government’s economic response to the coronavirus is to support business investment and cashflow by increasing the instant asset write off threshold and eligibility rules.So what is the instant asset write-off (IAW) and how can it help your...

A number of measures have been announced to support Australians and the economy in response to the Coronavirus (COVID-19). We have put together some information to summarise the key measures and to assist you in understanding the help that could be available to you....