October 31, 2023

Catching Up On Carry-Forward Contributions

Is it time to play catch up with your super contributions?  Every financial year, the cap for concessional and non-concessional contributions is set at a specific […]
September 28, 2023

The Billion Dollar TikTok Scandal

$1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators, and over 100 arrests to date. How did the […]
September 28, 2023

The case of the taxpayer who was paid too late

What a difference timing makes. A recent case before the Administrative Appeals Tribunal (AAT) is a reminder about the tax impact of the timing of employment […]
September 28, 2023

Legislating the ‘objective’ of super

The proposed objective of superannuation, provided in recently released draft legislation, is: ‘to preserve savings to deliver income for a dignified retirement, alongside government support, in […]
September 28, 2023

The shape of Australia’s future

What will the Australian community look like in 40 years? We look at the key takeaways from the Intergenerational Report. The 2023 Intergenerational Report (IGR) is […]
August 30, 2023

Succession: What does it take to hand your business to the next generation?

What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your […]
August 30, 2023

Thinking of subdividing? Consider the tax implications and pitfalls of small-scale subdivisions

You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, […]
August 30, 2023

Why is my tax refund so small?

The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent […]
July 27, 2023

The $20k technology investment boost

The Technology Investment Boost provides SMEs with a bonus deduction for expenses and depreciating assets for digital operations or digitising from 7:30pm (AEST) on 29 March […]
July 27, 2023

The 120% technology and skills ‘boost’ deduction

The 120% skills and training deduction for small and medium business has passed Parliament. We’ll show you how to maximise your deductions. Almost a year after […]
July 27, 2023

1 July wage increases and other changes

For employers, incorrectly calculating wages is not portrayed as a mistake, it’s “wage theft.” Beyond the reputational issues of getting it wrong, the Fair Work Commission […]
June 28, 2023

Tax savings for the taking

Here are some personal tax deductions that should be on your radar as we start working on your FY2022-23 tax returns There are some simple things […]
June 28, 2023

Be careful with last-minute ‘business’ purchases

For a few years now, very generous provisions have been in place that allow businesses to claim the cost of assets used in the business in […]
June 28, 2023

Super savings and strategies

Tax deductions for topping up super You can make up to $27,500 in concessional contributions each year assuming your super balance has not reached its limit. […]
June 28, 2023

We’re switching from DocuSign to FuseSign

Welcome to FuseSign We have recently decided to move our electronic signing platform from DocuSign to FuseSign. One of our highest priorities is getting documentation out […]
May 30, 2023

ATO Rental Property Blitz

The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous […]
May 30, 2023

Access to home guarantee scheme expanded to friends and siblings

From 1 July 2023, access to the Government’s Home Guarantee Scheme will be expanded to joint applications from “friends, siblings, and other family members” and to […]
May 30, 2023

Question of the month: Understanding Division 293 Tax

By Mark Copsey, Partner We often receive questions from clients who receive Division 293 assessments in relation to their superannuation contributions. So why am I paying […]
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, […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]