The ATO has made changes to the way you can claim deductions for this. Effective for FY2023, two of the three previous methods - the shortcut method ($0.80 per hour) and the old fixed rate method ($0.52 per hour) - are no longer available

You may already be aware of the ATO data matching program and its ability to identify income received during the financial year. To date, wage and salary income, interest income and dividends have all been identified by the ATO.

Retirement planning in Australia is undergoing a transformation as individuals strive for increased autonomy and flexibility in managing their hard-earned superannuation.

One of the major announcements in the May Budget that will have an impact on small business is the reduction of the instant asset write off threshold from $150,000 to $20,000.

Late lodgments of tax returns and business activity statements (BASs) can lead to hefty penalties and unnecessary stress for small businesses. However, there is good news!

It is that time of year again to be checking everything is in order with your record-keeping for a smooth process when it comes to lodging your 2023 tax to the ATO.

I am sure you have now absorbed all the announcements that the politicians have made this Budget time,..

Most business owners know they need to maintain profitability in order to survive, but even if you are profitable on paper, you may still find yourself in cashflow stress and unable to pay all your debts on time.

Question: I want to take out a loan from my business (a company) in order to invest in listed shareIf you're a director of a company in Australia, you might be wondering why you should hire an ASIC Registered Agent.

In this month’s newsletter, we discuss why it is not always ideal to sell investments in share markets, particularly when there is a downturn.

Taking a large sum of money from a superannuation fund to prop up a business and pay off creditors may seem like a risky way forward.

Business owners in Australia face a range of concerns that have the potential to impact their operations and their profitability. These concerns include:

You’re a sole trader with an ABN, working for a construction company or two. You have an online business creating social media marketing content.

With the latest interest rate decision handed down by the RBA, interest rates are a hot topic of conversation. It is well reported on that interest rate rises in Australia can have a significant impact on the economy.

A new calendar year often brings legislative changes that understandably don’t receive much attention. One of these is the change in eligibility around downsizer contributions.

As we stride into the fresh New Year ahead, many of us like to set ourselves some form of ‘New Year’s Resolutions’. We set ourselves constructive goals which reflect some aspect of our lives that we are inspired to tweak for the better.

Over the last 6-months, I have observed a growing concern from our business clients about staffing shortages and how they will get work completed for their customers.

Are we heading for a soft landing?

The government has introduced a new bill to remove Fringe Benefits Tax on eligible electric vehicles (EV). If this becomes law, it will apply retrospectively from 1 July 2022.

How interest rates will change our lives in the next 18 months

How will interest rates change our lives in the next 18 months

Land tax has always been a state-based tax calculated on the land held by investors in each relevant state.

As we enter a new tax season, I thought I would give you an update of changes in tax law and some areas to look out for when preparing your tax return.

Blog for ATO Correspondence 2 Factor Authentication change

Leading up to the 1st of July 2022, we were told to ‘get ready’ for the new superannuation changes that would come into effect.

After completing many business tax meetings across Australia, we have found our clients facing new kinds of challenges which has only existed in these recent years.

It is that time of the year again!

These two events are significant, and we appear to be entering into a time of increased economic uncertainty. With some analysts predicting both a Labor Government victory and up to eight (8) interest rate rises over the next year, I thought I’d put forward a few scenarios of what we may see in the next 12-months.

With climate change and global warming scarcely leaving the headlines its unsurprising that sustainable business and property practices are at the top of everyone’s mind. We have put together our top tips to help you be more sustainable while looking after your bottom line

I don’t know about you but where has 2022 gone?