Expanded super for older Australians
The 2019-20 Federal Budget has placed a strong focus on the growth of the economy whilst also having the intention to look after older Australians. Older Australians will benefit from the work… Read More
How collaboration can help grow your business
In a market that is full of entrepreneurs and small businesses, collaborating with a business that complements yours can be a powerful tool to share your marketing budget and be introduced to… Read More
Made a mistake on your BAS? Here’s what you need to know
Lodging a business activity statement (BAS) is something all business owners will be familiar with, however, mistakes can still be made. You must ensure that you have reported carefully and correctly to… Read More
2019 Budget: Rewarding working Australians
The 2019 Federal Budget focuses on rewarding working Australians, with the emphasis on a two-pronged approach for “hard-working” individuals. Individual taxes:From the 2018-2019 income year, the low and middle-income tax offset (LMITO)… Read More
2019 Budget: A business growth based Budget
The 2019 Federal Budget focuses on building a better tax system for Australian businesses in order to create a stronger economy. Instant asset write-off:The instant asset write-off threshold will be increased from… Read More
Getting your GST at settlement right
The ATO has seen a number of common errors made on forms submitted by property purchasers since changes were made to the way GST is collected at settlement in July 2018. Supplier… Read More
The pro’s and con’s of using someone else’s money
Borrowing money to invest, also known as ‘gearing’, can be a risky business. While it can increase your returns when markets rise, losses can be extreme when markets fall. It is important… Read More
What employee benefits apply for FBT
When an employer provides certain benefits for their staff, they are required to pay Fringe Benefits Tax (FBT). Employers pay FBT on the benefits they present to employees and their families or… Read More
What is your preservation age?
Superannuation laws can be confusing for everyone. These procedures often make it difficult to work out when you can retire or if there are any special conditions you need to meet before… Read More
ATO to monitor high-risk LRBAs within SMSFs
The ATO is focusing on risky Limited Recourse Borrowing Arrangements (LRBAs) and failures in Transfer Balance Account Reporting (TBAR) in SMSFs this year. They have announced plans to contact trustees with high… Read More
