Acute

News Updates

Articles 1 to 10 of 101
Take advantage of your carry forward cap

Take advantage of your carry forward cap

2021 may have had a subdued start, but a new year brings in new resolutions, perhaps one of your resolutions this year is to boost your super balance so you can enjoy an early retirement. Even if retirement is not on the horizon for you, it is good practice to take any opportunity to grow your retirement savings. With the unused concessional contributions cap carry forward, you are now able to contribute more to your super than ever before.
Category: News
JobMaker Hiring Credit Is It Right For Your Business?

JobMaker Hiring Credit Is It Right For Your Business?

With the other government COVID-19 economic supports such as the JobKeeper and JobSeeker winding down in the next few months, businesses that are seeking to employ additional workers but need a bit of help can apply for the JobMaker Hiring Credit Scheme. Unlike the JobKeeper where the payment has to be passed onto employees, the JobMaker Hiring Credit is a payment that the business gets to keep. Depending on the age of the employee, eligible businesses may be able to receive payments of up to $200 a week.
Category: News
Insolvency Changes to Help Businesses

Insolvency Changes to Help Businesses

While the government continues to help businesses through the current pandemic-related recovery with various revenue measures, it is inevitable that some businesses may not make the journey back. To assist those businesses with dealing with insolvency issues, the government has made significant changes to the framework to introduce a new, simplified debt restructuring process.
Category: News
Granny Flats Tax Tips and Traps

Granny Flats Tax Tips and Traps

The idea of adding a granny flat to your property sounds like a great idea. A property to rent out to generate some welcome extra income, or a home for adult children or mum and dad in their later years. But there are important tax and personal considerations to consider before taking the plunge and digging up the backyard.
Category: News
Tax effective ways to boost your super

Tax effective ways to boost your super

After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax.
Category: News
SMSF asset valuations COVID-19 concessions

SMSF asset valuations COVID-19 concessions

One of the many responsibilities of being a trustee for an SMSF is preparing financial statements and accounts for the SMSF every year. As a part of this reporting process, the trustee is also required to ensure that the fund’s assets contained in the report is at market value as per the various superannuation regulations.
Category: News
Illegal phoenixing ATO retaining refunds

Illegal phoenixing ATO retaining refunds

A new administrative approach has been released by the ATO in relation to the exercise of the Commissioner’s discretion to retain tax refunds where a taxpayer has an outstanding notification. Previously, the ATO was able to retain refunds where a taxpayer has an outstanding notification in relation to BASs or PRRT (petroleum resource rent tax), but this power has been extended to encompass all outstanding notifications in an effort by the government to combat illegal phoenixing.
Category: News
Seasonal workers tax obligations

Seasonal workers tax obligations

Due to the COVID-19 pandemic and closed borders, many seasonal workers who were a part of the seasonal work program (SWP) have been stuck in Australia since their visa ended. With uncertainty of tax consequences stemming from their visa status, many workers as well as employers are rightly confused as to the tax obligations they have. 
Category: News
Economic Update Video December 2020

Economic Update Video December 2020

November was an extraordinary month for the global and local economy. Early indications are that swift action by the government and the RBA have limited the impact of the COVID recession. 
Category: News
How to claim your work at home expenses

How to claim your work at home expenses

There are a lot more of us working from home now more than ever before. So, can you claim all or some of the additional costs off your tax? There are 3 options for claiming working from home expenses. The question of whether it’s all or some depends on the method chosen.
Category: News
Articles 1 to 10 of 101