Our Blog
Interested in Cryptocurrencies? New legislation has redefined the definition of "money" to include cryptocurrencies such as Bitcoin. Read about the tax implications and more...
Do you run a cleaning or courier business? The taxable payments reporting system currently in place in the building and construction industries will extend to the cleaning and courier industries from 1 July 2018. Read more to see how this will affect your business...
Eligible for the reduced company tax rate? New legislation poses some restrictions on utilising the reduced company tax rate, including those small businesses with passive investments such as rental properties. Check our update to see how this affects your small business...
Are you small subsidiary of a large group? Be aware that you may be caught in the new multinational tax crackdown by the government. Read more to check if this could affect you...
Business and Tax Update November 2017
Welcome to October! Our update this month covers some interesting changes:
- Are your employee records sufficient? Are you a franchisor who is unaware of your franchisee's employment practices? Strong changes have been made to the Fair Work Ombudsman's investigative powers to protect vulnerable workers. Note - there are lessons in this for all employers regarding record keeping, and protecting your business.
- New safe harbours for Directors of struggling company's - for genuine Director's trying to find an alternative to administration.
- Looking at investing in rental property? Additional capital tax discounts may be available if your property contributes to Australia's shortage of affordable housing.
To read further about any of these interesting changes and how they may affect you, our October update contains more:
Inside this month, the detail of the initiatives from Government to free up housing stock and reduce the appeal of residential property to foreign investors. Older and thinking of downsizing? Younger and trying to get into the market as a first home buyer? Read our newsletter for some insight into how these initiatives are aimed at you. Plus, always topical at this time of year is the Tax Commissioner's hit list and why the ATO are all fired up about work related deductions.
Timing is everything... so they say. Our street is having a much need face lift - right at our busiest time of year!
Despite there being no parking at the front of our office and the disruptions to our street, we are OPEN FOR BUSINESS as usual.
We are busy trying to find ways to make it easier for you. We are happy if you would prefer to email, or mail, your tax information into our office to avoid the street hassle. Please give us a call and let us know how we can make this tax time as stress free as possible for you.
Each year we have a check list for you, to make sure you don't forget any important information. See the 2017 individual tax checklist here:
Welcome to the new financial year! We will continue to bring you our Business & Tax Update on a monthly basis and hope you enjoy reading it. As always, if you have ay queries or feedback please contact our office, we love to hear from you! Our July update provides some interesting reading:
- In case you missed all the hype we list some of the changes that took effect on 1 July 2017
- Generational succession... Do your kids really want to take over your business? Are the next generation willing or capable of carrying on? We look at some of the issues that need to be realistically assessed before this commitment is undertaken
- New rules for GST on imports under $1,000
- The ATO's top 11 deductions that will be up for scrutiny this year
Attached is our final Business & Tax update for the 2016-2017 Financial Year!!
This update looks at the up coming changes to the tax rules for residential investment properties, important reading for all those out there with residential rental properties.
Again we cover the final things you need to be aware of before the superannuation changes take effect 1 July 2017.
It also takes a look at the ATO crackdown on the black market, and which industries it is targeting.
Happy New Financial Year to all our clients, and we look forward to providing our service to you throughout the 2017 -2018 year ahead.
Business and Tax Update June 2016
Well the dust has settled from budget night, and whether you're a supporter or an opponent of the changes they will affect us all in one way or another. Our update covers each change and what it will mean to you in concise, easy to read terms. So whether you are in business, an individual or a trust and regardless of your income level there is something in our update for you.
Remember if you are unsure on any point please give us a call!
Are you one of the 90,000 additional businesses that can now access the $20,000 immediate asset write-off? With Parliament passing the new enterprise tax bill at its recent sitting, it is time to review your eligibility if you want to take advantage of this before 30 June. Our newsletter explains the details in simple to understand terms and outlines tips and traps...
Are you paying more tax than you need to? Read our newsletter for things you can do to offset your tax liability for the year for both your business and yourself...
Claiming work related travel expenses? The ATO is on the warpath with regard to claims for work related travel. Read about your obligations and confirm your ability to substantiate your claim if you plan to make a claim this year...
All this and more here: Business and Tax Update May 2017
Do you have a Family Trust? New changes to State Taxation Laws may leave you with a tax obligation that you didn't see coming....
Is your Business new or growing rapidly? Are you getting all the assistance and deductions you are entitled to? Read our update for more...
Planning on claiming self education expenses? This is always an area for the tax office to review. If you are in doubt after reading our update come in to see us and together we can see if you are really eligible...
All this and more in our April 2017 Update!
Tips on managing cashflow within your business - February and March are critical months for cashflow, read more on how to keep your business afloat so you aren't playing catch up for the year ahead.
FBT Year end is approaching - Read our update to see which of the benefits you provide to your employees the ATO are targeting this year. Reminder for all clients using the log book method for vehicles to read your odometers on 31 March 2017.
Changes to Penalty Rates - what will this mean to your business or to you as an employee?
All these interesting articles in depth in our March 2017 update:
Business and Tax Update March 2017