Uncategorized
May 30, 2023
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
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 […]
May 10, 2023
By Mark Copsey, Partner In the wake of the 2023-24 Federal Budget announcement last night, we wanted to provide the main updates affecting Allworths clients here. […]
April 27, 2023
Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider. Business transactions […]
April 27, 2023
When you start a business, inevitably, it consumes not just a lot of time but also a lot of cash (much of which you have already […]
April 27, 2023
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) released new details on electric vehicles. […]
March 30, 2023
Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming […]
March 30, 2023
A consultation paper released by Treasury has sparked a national debate about the role, purpose and access to superannuation ahead of the 2023-24 Federal Budget. What […]
March 30, 2023
The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can […]
February 27, 2023
By Cynthia Fei, Manager Many of us assume that tax planning is only necessary at the end of the year. It often stays on our to-do […]
February 27, 2023
From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation […]
February 27, 2023
The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts […]
January 31, 2023
(The only part of this post written by humans from Allworths are the prompts in bold) How should business owners start a new year? Business owners […]
January 31, 2023
By Mark Copsey, Partner When you think of Tax Planning you may think it’s only for large businesses or the ultra wealthy. However, if you reframe it […]
January 30, 2023
The Fair Work Legislation Amendment (Secure Jobs, Better Pay) Bill 2022 received royal assent on Tuesday 6 December 2022. The legislation is extensive and brings into […]
November 29, 2022
By David Downie, Partner In a previous post, we started looking at how to develop your own personal Clarity Plan. For many, December and January will be […]
November 28, 2022
By Mark Copsey, Partner As we head into the festive season, it’s easy to lose sight of things – like tax planning – that could either […]
November 27, 2022
The “Hi Mum” scam (where you receive a text message that starts with e.g., “Hi Mum, I have broken my phone and I am using this […]
June 28, 2023
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 […]
July 27, 2023
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 […]
July 27, 2023
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
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 […]
August 30, 2023
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 […]
August 30, 2023
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
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 […]
September 28, 2023
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 […]
September 28, 2023
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 […]