Document Hub
Book a Consultation
LOGIN
Keeping not-for-profit records up to date
By WSC Group | Created on May 1, 2025
Important information about record keeping requirements for not-for-profit organizations.
How to manage business day-to-day transactions
By WSC Group | Created on May 1, 2025
The ATO has tips for small business owners that can make their tax life easier.
For your business
By WSC Group | Created on April 25, 2025
Your customer is definitely not going to pay you? If all attempts have failed, the debt can be written off by 30 June to claim a deduction this year.
The ATO's updated small business benchmarking tool
By WSC Group | Created on April 25, 2025
The ATO has updated its small business benchmarks with the latest data taken from the 2022–23 financial year.
Year-end tax planning opportunities & risks
By WSC Group | Created on April 25, 2025
With the end of the financial year fast approaching we outline some opportunities to maximise your deductions and give you the low down on areas at risk of increased ATO scrutiny.
Property subdivision projects - the tax implications
By WSC Group | Created on April 25, 2025
Before jumping in and committing to anything, it is important to understand the tax liabilities that might arise from property subdivision projects.
Instant asset write-off threshold finally confirmed
By WSC Group | Created on April 25, 2025
The Government finally passed legislation increasing the instant asset write-off threshold for the year ending 30 June 2025 to $20,000.
The proposed ban on non-compete clauses
By WSC Group | Created on April 4, 2025
In the 2025-26 Federal Budget the Government announced a ban on non-compete clauses and “no poach” agreements.
Personal tax cuts
By WSC Group | Created on April 4, 2025
From 1 July 2026, personal income tax rates will change.
Threshold for tax-free retirement super increases
By WSC Group | Created on April 4, 2025
The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025.
Super guarantee rules catch up with venues and gyms
By WSC Group | Created on April 4, 2025
The superannuation guarantee rules are broad and, in some circumstances, extend beyond the definition of common law employees to some directors, contractors, entertainers, sports persons and other workers.
ART rejects taxpayer's claim for CGT small business relief
By WSC Group | Created on April 1, 2025
The Administrative Review Tribunal held that a taxpayer was not entitled to the CGT small business concessions on the disposal of his interests in some farm land.
ATO's new focus for small business
By WSC Group | Created on April 1, 2025
The ATO is currently focusing on the following 'specific risk areas', where it is concerned 'small businesses are getting it wrong'.
Quarterly TBAR lodgment reminder
By WSC Group | Created on April 1, 2025
SMSFs must report certain events that affect a member's transfer balance account quarterly using transfer balance account reporting.
General transfer balance cap will be indexed on 1 July 2025
By WSC Group | Created on April 1, 2025
Indexation of the general transfer balance cap will occur on 1 July 2025, increasing from $1.9 million to $2 million.
FBT record keeping and plug-in hybrid exemption changes
By WSC Group | Created on April 1, 2025
With the 2025 fringe benefits tax ('FBT') year having just ended, the ATO is reminding employers of some changes that might impact their FBT obligations.
Taxable payments annual report lodgment reminder
By WSC Group | Created on April 1, 2025
Businesses that pay contractors for 'Taxable payments reporting system services' may need to lodge a 'Taxable payments annual report' by 28 August each year.
Reminder of March 2025 Quarter Superannuation Guarantee ('SG')
By WSC Group | Created on April 1, 2025
Employers are reminded that employee super contributions for the quarter ending 31 March 2025 must be received by the relevant super funds by Monday, 28 April 2025.
How to master Employer Obligations in 2025
By WSC Group | Created on March 25, 2025
Taxpayers who employ staff should remember the following important dates and obligations.
Trade wars and tariffs
By WSC Group | Created on March 25, 2025
Global Google searches for the word “tariffs” spiked dramatically between 30 January and 2 February 2025, a +900% increase to the previous 12 months. We look at what tariffs really mean.
Taxpayer's claim for input tax credits unsuccessful
By WSC Group | Created on March 25, 2025
In a recent decision, the Administrative Review Tribunal ('ART') rejected a taxpayer's claim for input tax credits on the basis that all the relevant GST returns (i.e., BASs) were lodged out of time.
FBT 2025 What you need to know
By WSC Group | Created on March 25, 2025
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.
ATOs tips to help taxpayers stay on top of their BAS
By WSC Group | Created on March 25, 2025
The ATO has the following tips to help taxpayers get their BAS right before they lodge.
Claiming fuel tax credits when rates change
By WSC Group | Created on March 25, 2025
Fuel tax credits changed on 3rd February, and taxpayers could receive more savings for fuel they have acquired on and from this date.
ATOs appeal against decision that UPEs are not loans fails
By WSC Group | Created on March 25, 2025
The Full Federal Court recently dismissed the ATO's appeal against an AAT decision that unpaid present entitlements ('UPEs') owing by a trust to a corporate beneficiary were not 'loans' for Division 7A purposes.
Ban on foreign property purchases
By WSC Group | Created on March 25, 2025
The Government has announced a temporary ban on investors buying established homes between 1 April 2025 to 31 March 2027.
ATO busts NFP myths
By WSC Group | Created on March 25, 2025
As the Not-for-profit ('NFP') self-review return is due in March, the ATO has recently published a document 'busting' various NFP 'myths'.
ATO debunks Division 7A 'myths'
By WSC Group | Created on February 12, 2025
Division 7A of the tax legislation is intended to prevent profits or assets being provided to shareholders or their associates tax free.
When to lodge SMSF annual returns
By WSC Group | Created on February 5, 2025
All trustees of SMSFs with assets (including super contributions or any other investments) as at 30 June 2024 need to lodge an SMSF annual return ('SAR') for the 2023/24 financial year.
ATO's notice of rental bond data-matching program
By WSC Group | Created on February 5, 2025
The ATO will acquire rental bond data from State and Territory rental bond regulators bi-annually for the 2024 to 2026 income years, including details of the landlord and tenant, managing agent identification details, and rental bond transaction details.
