Gemma
August 29, 2022
The RBA lifted the cash rate to 1.85% in early August 2022. The increase comes a few weeks after Reserve Bank Governor Philip Lowe told the […]
August 29, 2022
New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how. Electric vehicles (EVs) […]
August 29, 2022
Climate change featured heavily during the election and now the Albanese Government is putting into place some of the promises it made. We look at the […]
July 28, 2022
Everyone knows you don’t pay tax on your family home when you sell it… right? We take a closer look at the main residence exemption that […]
July 28, 2022
The ATO has flagged four priority areas this tax season where people are making mistakes. The Australian Taxation Office (ATO) has revealed its four areas of […]
July 28, 2022
By Mark Copsey, Director at Allworths Wealth Management As the Queen celebrates her Platinum Jubilee I feel compelled to use part of her famous speech given […]
June 29, 2022
By David Downie and Mark Copsey Happy New Financial Year! Last month we focused on year-end tax planning tips. Now, with the financial year coming to a close, […]
May 25, 2022
By David Downie and Mark Copsey Welcome to our special Tax Time edition. With 30 June looming, we would like to share some tax tips […]
April 28, 2022
By David Downie, Partner Back in February we wrote about the recent change in the ATO’s approach to discretionary trusts, in particular where distributions of trust […]
April 28, 2022
With many businesses looking at ways to incentivise and retain employees in the wake of the pandemic and the ‘great resignation’, fringe benefits have become topical […]
April 28, 2022
The short answer is: maybe no one. But it’s an easy fix. A startup or small business is challenging enough in the core work that’s being […]
April 28, 2022
The rise of finfluencers Over the last couple of years, the rise of financial influencers, or ‘finfluencers’, as they have been nicknamed, has continued unabated. Found […]
March 31, 2022
On Tuesday the Government delivered the 2022 Federal Budget. With the federal election looming, Treasurer Josh Frydenberg argued that the country has “remained resilient and strong” […]
March 31, 2022
Whether a worker qualifies as a contractor or an employee is a common source of confusion among small business owners. There are some common misconceptions around […]
March 31, 2022
If you have been preparing Special Purpose Financial Statements (SPFS), it’s important to check whether you are impacted by the replacement of these with General Purpose […]
March 31, 2022
With cryptocurrency an ever-growing phenomenon, it’s no surprise that some are calling for greater regulation and clarity surrounding the rules (however counterintuitive this may seem considering […]
February 28, 2022
By David Downie, Partner 28 February 2022 Last Wednesday the ATO released four new pieces of guidance in relation to discretionary (family) trusts that demonstrate a […]
February 27, 2022
Anyone who remembers shoving handfuls of business receipts into shoeboxes, or dutifully plugging them away into spreadsheets one by one, has most likely welcomed the age […]
June 26, 2024
As the End of the Financial Year (EOFY) approaches, self-employed individuals can bolster their retirement savings and take advantage of significant tax benefits. While the self-employed […]
May 29, 2024
Managing a trust comes with its share of responsibilities, especially regarding tax compliance. To assist trustees and administrators, the ATO has provided a checklist that can […]
May 29, 2024
Effective cash flow management is essential for the success and growth of any small business. Proper budgeting, forecasting, and managing finances ensure that your business remains […]
May 29, 2024
Millennials and Gen Z are facing some of the most difficult challenges when it comes to financial priorities. Between paying off HECS debts/HELP loans and saving […]
May 29, 2024
In a move aimed at bolstering small business cash flow and reducing compliance costs, the Australian government has announced an extension of the $20,000 instant asset […]
May 14, 2024
Did you know that if you lodge your tax return in early July, your tax return’s chances of being flagged as incorrect by the ATO are […]
May 14, 2024
Land tax is an annual tax paid to state and territory governments by land owners. If your business owns the property, you will likely need to […]
May 14, 2024
Changes are being made to trust administration as a part of the Modernisation of Trust Administration Systems project, which will impact the way in which you […]
May 14, 2024
The Australian Taxation Office (ATO) is cautioning rental property owners about accurately claiming deductions on their tax returns this year, particularly with regard to maintenance claims. […]