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January 29, 2024

How To Navigate Business Challenges In 2024

Stepping into 2024, businesses may navigate dynamic economic, societal, and technological shifts. Successfully navigating these changes requires a strategic and agile approach, which is essential for […]
December 19, 2023

Lodgement Penalty Amnesty For Businesses Ends 31 December 2023

The ATO’s lodgment penalty amnesty has been extended, providing thousands of eligible enterprises with a chance to rectify overdue income tax returns, business activity statements (BAS), […]
December 18, 2023

Chasing Up End Of Year Invoices

As the calendar year draws to a close, businesses often find themselves in a familiar but often challenging position – chasing invoices.  A healthy cash flow […]
December 15, 2023

Rightsizing Your Lifestyle: The Art of Property Downsizing

 As retirees embrace a new phase in their lives, the concept of property downsizing is gaining momentum as a strategic and rewarding financial move.  Downsizing isn’t […]
December 15, 2023

Unlocking the Secrets of Deductions: A Holiday Home Owner’s Essential Checklist

Property owners need to understand the intricacies of deductions associated with their cherished holiday retreats. However, as the holiday season approaches, they may find that their […]
November 27, 2023

Do You Have A Goal For Your Business?

Have you ever wondered about the origin story of your business? What drove you to start it in the first place? It’s a question that often […]
November 27, 2023

5 Superannuation Misconceptions Australians Might Have…

Superannuation, often called ‘super,’ is a vital part of Australia’s financial landscape. It’s a retirement savings system intended to provide financial security in your golden years. […]
November 27, 2023

Claiming Motor Vehicle Expenses On Your Tax Return

As a business owner, one of the perks is the ability to claim tax deductions for expenses related to motor vehicles used in your business operations. […]
November 26, 2023

Unlocking Business Value: Essential Steps to Determine Your Company’s Worth

Determining the value of your business is a critical step when contemplating a sale. Unfortunately, a significant number of business owners are unaware of the monetary […]
October 31, 2023

Providing Affordable Housing? You Could Be Eligible For A CGT Discount

An additional 10% capital gains tax (CGT) discount may be available when you sell an Australian residential rental property that you used to provide affordable housing. […]
October 31, 2023

The Age Pension Thresholds Have Changed Since 1 July 2023…

One of the most common questions from those entering or nearing retirement is, ‘How much money can I have before it affects my pension?’ Our answer […]
October 31, 2023

What Is A Transition To Retirement Pension?

Not quite ready to take the plunge into full retirement, but ready to make a start?    Transitioning into the retirement phase of your life means […]
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 […]
January 31, 2023

Tax Planning or Planning for Tax?

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 31, 2023

This was written by AI

(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 […]
February 27, 2023

The ATO’s final position on risky trust distributions

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 […]
February 27, 2023

Is ‘downsizing’ worth it?

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

5 scenarios where early tax planning is key

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 […]
March 30, 2023

What’s the deal with working from home?

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 […]
March 30, 2023

The ‘super’ wars

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

What will the ATO be asking about your holiday home?

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 […]
April 27, 2023

How does FBT apply to electric cars?

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. […]