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Finfluencers: bad tax advice could cost you thousands
By WSC Group | Created on July 16, 2025
They’re advising from your insta and TikTok feeds, they’ve got huge followings, they speak with conviction - financial influencers or ‘finfluencers’.
Taxpayer's claim for home office and car expenses successful
By WSC Group | Created on July 16, 2025
The Administrative Review Tribunal ('ART') recently held that a taxpayer was entitled to claim deductions for home office and car expenses incurred during the COVID-19 pandemic.
Div 296 super tax and practical things to consider
By WSC Group | Created on July 16, 2025
Division 296 super tax is a controversial Federal Government proposal to impose an extra 15% tax on some superannuation earnings for individuals if their total superannuation balance (TSB) is over $3 million as at 30 June of the relevant income year.
TBAR for June quarter due 28 July
By WSC Group | Created on July 16, 2025
All SMSFs must report relevant transfer balance account ('TBA') events using transfer balance account reporting ('TBAR').
Important tax update: deductions for ATO interest charges scrapped
By WSC Group | Created on July 16, 2025
If you're carrying an Australian Taxation Office (ATO) debt there is a good chance that it will cost you even more from 1 July 2025 onwards.
Changes to car thresholds from 1 July
By WSC Group | Created on July 16, 2025
The car limit for the 2026 income year is $69,674. This is the highest value that a taxpayer can use to calculate depreciation on a car where they use the car for work or business purposes and they first use or lease the car in the 2026 income year.
Notice of data exchange for skilled visa program compliance
By WSC Group | Created on July 16, 2025
The Department of Home Affairs will obtain data from the ATO to identify whether business sponsors are complying with their sponsorship obligations (e.g., paying visa holders correctly) and whether temporary skilled visa holders are complying with their visa conditions (e.g., to work only for an approved employer).
The one big, beautiful bill that may not be so beautiful for Aussies
By WSC Group | Created on July 16, 2025
You may have seen the viral headline about a new U.S. tax bill called the One Big Beautiful Bill, but what does it mean for Australian investors, especially super funds and small businesses with US exposure? Turns out, it could mean a hit to investment returns.
Taking charge of upcoming employer obligations
By WSC Group | Created on July 16, 2025
As the end of the financial year has just past, the ATO is reminding employers that they should check what they need to do and take note of the following upcoming key dates.
Reminder of June 2025 Quarter Superannuation Guarantee ('SG')
By WSC Group | Created on July 16, 2025
Employers are reminded that employee super contributions for the quarter ending 30 June 2025 must be received by the relevant super funds by Monday, 28 July 2025.
