October 1, 2014

Small business benchmarking and the ATO

There has been increased ATO audit activity in the small business sector particularly where the ATO has used small business benchmarking. Benchmarks are financial ratios developed […]
October 1, 2014

Professional Firms to be under ATO scrutiny

  The Australian Tax Office (ATO) has issued draft guidelines for the risk assessment and audit selection for professional practices for compliance reviews related to 2014/2015 […]
June 23, 2014

Newsflash – SMSF SuperStream & New Penalties

SMSFs – SuperStream deferral We sent out a newsflash in March this year regarding the new electronic data and payment requirements of the ‘SuperStream’ system to […]
March 27, 2014

Viewpoint – Autumn 2014

New appointments We are very pleased to announce the appointment of two new members to the Allworths team, Colleen Hosking and Sophia Tong. Colleen joins us […]
March 27, 2014

SMSF’s – the SuperStream standard for contributions

SuperStream  is  a  government reform  aimed  at  improving the  efficiency  of  the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees […]
December 12, 2013

Viewpoint – Summer 2013

Christmas The office will officially close on Friday 20 December 2013, and re-open Monday 6 January 2014. We wish all our clients, colleagues and families all […]
December 6, 2013

Urgent Action – Tax benefits expire 1st January 2014

Small business (those with an aggregated annual turnover of less than $2 million), have only 4 weeks to take advantage of tax benefits of the  “Instant […]
September 23, 2013

Tax Office reacts to superannuation funds selling assets after entering pension phase

Tax Office reacts to superannuation funds selling assets after entering pension phase The ATO has issued a Draft Taxation Determination (TD 2013/D7) that self managed superannuation […]
September 16, 2013

Viewpoint – Spring 2013

Self-education expenses cap delayed The Government has decided to defer the introduction of the $2,000 cap on work related education expense deductions until 1 July 2015. […]
July 26, 2013

Important Changes for Completing 2013 Individual Tax Returns

Private Health Insurance Rebate From 1 July 2012 private insurance premiums are income tested to determine entitlements to the private health insurance rebate. As a result, […]
July 5, 2013

Viewpoint – Winter 2013

Changes to the super guarantee and upper age limit From 1 July 2013 the super guarantee increases to 9.25% and the upper age limit has been […]
January 17, 2013

International Newsflash Item – Are you a non-UK domicile owning property in the UK?

New taxes may soon apply The United Kingdom is introducing legislation that will from April 2013 inflict an annual property tax on foreigners who own UK […]
December 17, 2012

Viewpoint – Summer 2012

New Partner We are very pleased to announce that David Downie has been admitted as a partner of Allworths. David has worked in the accounting profession […]
December 4, 2012

Viewpoint – Spring 2012

Since our last Viewpoint it has been a largely rural feel for Allworths.  Stephen Armstrong and Craig Duncan visited clients in Albury in June. In August, […]
June 22, 2012

Viewpoint – Winter 2012

The Quarter just ended – The last few months have focused on tax planning and looking at the implications of the Federal Budget. As we draw […]
May 18, 2012

International Newsflash Item – Removal of CGT discount for non-residents

Non-residents with Australian assets need to consider the impact of the Governments announcement in last weeks Federal Budget of the removal of the 50% CGT discount […]
April 27, 2012

Viewpoint – Autumn 2012

The quarter just ended   This has been another busy quarter for the partners and staff of Allworths. In February, Stephen, Mark and Pasandi visited colleagues […]
April 27, 2012

Newsflash Item – Directorships of Australian Companies

Amendments to director penalty regime – draft legislation released Draft legislation has been release by David Bradbury, the Assistant Treasurer that will amend the law ostensibly […]
July 28, 2022

Tax Time Targets

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

Tax and the family home

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 […]
August 29, 2022

It’s Not Easy Being Green

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 […]
August 29, 2022

FBT-free electric cars

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

How high will interest rates go?

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 […]
September 28, 2022

Knowing where you’re headed: Your personal Clarity Plan

By David Downie, Partner What do you want from your business? What do you want from your investments? What do you want from your job or profession? […]
September 29, 2022

How to sell your business

When it comes to selling a business, there are two key components at play: structuring the transaction; and positioning the business to the market. Both elements […]
September 29, 2022

Acquiring collectibles in your SMSF

Clients with self managed superannuation funds (SMSFs) often ask what assets the SMSF can acquire.  Why? The golden rule for acquiring assets inside your SMSF is […]
September 29, 2022

120% deduction for skills training and technology costs

The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business. An election ago, the 2022-23 Budget proposed a 120% […]