October 28, 2024

Using Super For Medical Costs: Is It Worth It?

Over the past five years, more than 150,000 Australians have dipped into their retirement savings early to cover medical expenses, raising concerns about the financial impact […]
October 21, 2024

Claiming Immediate Deductions for Depreciating Assets: A Guide for Employees

When it comes to work-related expenses, the Australian Taxation Office (ATO) allows employees to claim immediate deductions for depreciating assets that cost $300 or less.  While […]
October 14, 2024

What Is Business Liability & How Can You Protect It?

Running a business in Australia comes with many responsibilities, and one of the most important aspects is understanding your liability.  Business liability refers to the legal […]
October 7, 2024

Understanding the Risks Associated with Superannuation

Superannuation is one of the best ways to save for retirement, but it’s not without its risks—especially if you’re between 40 and 60 and starting to […]
September 30, 2024

Vehicle-Related FBT – How To Manage What You’re Providing

As an employer, when you provide vehicles like sedans, station wagons, or passenger vans for your employees’ private use, you might be offering a car fringe […]
September 23, 2024

Side Hustle Culture: Having Your Own Business On The Side

Starting a side hustle has become increasingly popular in Australia as more people seek additional income streams, personal fulfilment, or a way to test business ideas […]
September 16, 2024

Superannuation, The Self-Employed & Contractors

If you’re a contractor, freelancer, or self-employed, you’re probably already juggling multiple responsibilities, from managing clients to keeping track of your income. One area that often […]
September 9, 2024

Understanding Closely-Held Employees & Small Business STP Reporting

Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. The Australian Tax Office (ATO) […]
September 2, 2024

The Key Responsibilities Of Running A Business (And How An Accountant Can Help)

Running a small business is an exciting and rewarding endeavour but comes with a fair share of responsibilities. Among the most important are the financial obligations […]
August 27, 2024

What You Need to Know About the New ‘Right to Disconnect’ Laws

If you are feeling overwhelmed by the constant demands of work emails, calls, and messages, you are not alone. Many employees struggle to balance their work […]
August 26, 2024

Getting The Most Out Of Your Nest-Egg With Some Super Secrets

Superannuation is one of the most important tools you have for securing a comfortable retirement.  While most people are familiar with the basics—like making contributions and […]
August 19, 2024

The Tax-Free Threshold & Multiple Jobs

It’s important to know how the tax-free threshold works, especially if you’re earning income from more than one job.  Many people mistakenly claim the tax-free threshold […]
August 12, 2024

The Power of Product Diversification in Business: When It Works and When It Doesn’t

As a business owner, you’re always on the lookout for ways to grow and adapt in an ever-changing market.  One strategy that many businesses consider is […]
August 5, 2024

Superannuation for Young Professionals: Start Early, Retire Comfortably

As a young professional, planning for retirement is a distant priority. However, starting early with your superannuation contributions can significantly impact your financial future. Prioritising superannuation […]
July 28, 2024

Claiming Motor Vehicle Expenses In The New Financial Year

Making the most of available tax deductions for your business can be an important aspect of starting the new financial year. It’s why planning and strategising […]
July 28, 2024

Turning Business Ideas into Reality: A Practical Guide

Every successful business starts with a simple idea. The journey from concept to a thriving enterprise, however, is fraught with challenges. For aspiring entrepreneurs, the key […]
July 28, 2024

Spousal Contributions: A Guide To Voluntarily Boosting Super

Superannuation is a vital aspect of retirement planning in Australia, ensuring individuals have sufficient savings for their later years. One effective strategy to enhance your family’s […]
July 28, 2024

Ensuring Income Tax Exemption: Key Points for Not-for-Profit Sporting Organisations

Starting from the 2023-24 income year, not-for-profit (NFP) organisations, including sporting clubs, societies, and associations with an active Australian Business Number (ABN), must lodge an annual […]
August 16, 2011

Viewpoint – Spring 2010

ATO’s compliance program for 2010-11 released On 8 July 2010, the ATO Commissioner, Michael D’Ascenzo, issued a media release announcing the release of the Compliance Program […]
August 16, 2011

Viewpoint – Summer 2010

Christmas fringe benefits Christmas is fast approaching and it is time to consider the tax implications of all the Christmas cheer you provide your staff and […]
August 16, 2011

Newsflash Item – ASIC class order changes Dec 10

ASIC CLASS ORDER CHANGES –   Effecting Australian Companies Owned by Foreign Shareholders ASIC Class Order (CO 98/1417), Audit relief for proprietary companies which provides relief […]
August 16, 2011

Viewpoint – Autumn 2011

SMSF – stronger Super  The Federal Government has released its response to the Cooper Review into Superannuation. In its final report the Government advised “The Self […]
August 16, 2011

Newsflash – Tax Law for Trusts

Assistant Treasurer Bill Shorten announced at the Taxation Institute of Australia’s National Convention the Government will adopt two recommendations to clarify the tax law for trusts. The changes will apply […]
August 16, 2011

Newsflash – Determination of residency

Determination of Residency A number of people have commented to us recently, specifically in respect of UK and Australian residency, that the number of days spent […]
August 16, 2011

Viewpoint – Winter 2011

Budget summary The Government announced a number of measures in the 2011-2012 budget that will impact SMEs and their employees. An outline of these is provided […]
January 25, 2012

Viewpoint – Summer 2011

  Allworths Office Closure Our office will be closing during the Christmas period, from 3.00 pm Friday 23December 2011 and re-opening Tuesday 3 January 2012. We […]
January 25, 2012

Newsflash – Changes to Living Away from Home Allowances

Changes to Living Away From Home Allowances Recently the Federal Government announced significant changes to the taxation treatment of Living Away From Home Allowances which will […]