EOFY 2024 – Companies
Companies have some specific rules that only apply to them – both commercially and from a tax point of view. While we could fill a book about all the rules that surround a company (check
EOFY 2024 – Trusts
Trusts are a conundrum. They are extremely popular (for good reason), but very few people understand how a trust works and what important things need to be done at year end. We have a great
EOFY 2024 – Self Managed Super Funds (SMSF)
Aside from your home, your superannuation will likely be the largest asset you have – so using it wisely should be a high priority. It also provides great tax benefits that should be taken advantage
ATO Toughens Its Stance On Debt
It’s never been more important to keep on top of your ATO obligations. The ATO have turned nasty and unforgiving and if you owe them money, expect them to want it paid sooner rather than
2024 Federal Budget
NOT YET LEGISLATED It is important to note that any announcements made by the Government are not guaranteed to become Law. These announcements need to pass Parliament first, and it’s possible that the Government may
It’s FBT Time!!
Action Points All employers that provide non-cash benefits to employees (including in many cases, the owners) are likely liable to pay Fringe Benefits Tax on those benefits. The FBT year runs from April to March,
Contribution and Withdrawal Rules for Superannuation
SUPERNNUATION RULES ARE COMPLICATED In true Government fashion, the rules around superannuation are complicated and difficult to follow. We have rules in place that are designed to protect the system from the rarest of circumstances,
Proposed Changes to “Stage 3” Tax Cuts
The changes to the stage 3 tax cuts have been front-and-centre in the news recently, and there has been plenty of commentary on not only the politics, and how these changes actually affect us. We’re
ATO Crackdown on Debt
ATO CRACKDOWN ON DEBT If you had to guess how much is owed to the ATO by Australians, what figure would you put on it? Millions, hundreds of millions, billions? The figure is over $50