Welcome to our review of the 2022-2023 Budget 2.0 Contents Shuffling the decks: 2022-23 Budget 2.0 Individuals & families Child Care Subsidy increase Paid parental leave reforms Encouraging pensioners back into the workforce Aged care reform… Additional funding for floods and natural disasters Lifting the income limit on Seniors Health Card Income support asset test…
Welcome to our October 2022 Client Bulletin Contents To cuts or not to cut? Stage three personal tax cuts COVID downgraded but not gone States move on property based taxes ATO contacts ‘at risk’ professional services firms 1 October minimum wage increase Director ID number deadline looming Australian super funds gorge on cryptocurrency Lessons from…
Welcome to our September 2022 Client Bulletin Contents 120% deduction for skills training and technology costs How to sell your business Acquiring collectibles inside your SMSF Have you registered your .au domain? 120% deduction for skills training and technology costs The 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium…
A new category of domain names “.au” was made available in March 2022. These shorter domain names are a new option for Australian business websites and email addresses. If you own a domain name ending in .com.au (or .net.au / .edu.au / .org.au etc) then you have priority to the same shorter domain name ending…
Welcome to our August 2022 #2 Client Bulletin Contents Going Green FBT – Free Electric Cars Can I claim my crypto losses? How high will interest rates go? Going Green Climate change featured heavily during the election and now the Albanese Government is putting into place some of the promises it made. We look at…
Welcome to our August 2022 Bulletin Contents Tax Time Targets What to expect from the new Government? What changed on 1 July 2022? ATO refocus on debt collection Overcome your customers fear of spending Tax & the family home Tax Time Targets The ATO has flagged four priority areas this tax season where people are…
Welcome to our June 2022 Bulletin Contents ATO ramps up heat on directors 120% deduction for skills training and technology costs Fuel tax credit changes What’s changing on 1 July 2022? Can I claim a tax deduction for my gym membership? ATO ramps up heat on directors Over the past few months, the ATO have…
The Australian Taxation Office (ATO) have recently released a package of new guidance material that directly targets how the income of Trusts is distributed and how it is taxed. This ATO guidance material is only a draft at this stage with the ATO seeking comments from the profession. Under this guidance material released, the ATO…
Welcome to our March 2022 Bulletin Contents Immediate Deductions Extended Federal Budget 2022 – 23 Are Your Contractors Really Employees? Immediate Deductions Extended Temporary full expensing enables your business to fully expense the cost of: new depreciable assets improvements to existing eligible assets, and second hand assets in the first year of use. Introduced in…
Welcome to our February 2022 Bulletin Contents Year of the Tiger: Roaring or Bellowing? Professional Services Firm Profits Guidance Finalised PCR & RAT kits to be tax deductible, FBT free Pandemic Leave Disaster Payments rules change Cash injection for struggling businesses Year of the Tiger: Roaring or Bellowing? The 2022 Lunar New Year, Year of…