Articles 1 to 10 of 128
ATO Data Matching of Lifestyle Assets Extended

ATO Data Matching of Lifestyle Assets Extended

Owners of lifestyle assets beware, the ATO has extended its data-matching program for another 2 years. The lifestyle assets data-matching program has been running since February 2016 and in the past collected data from the 2013-14 to the 2019-20 financial years. It will now be extended to include the 2020-21 through to 2022-23 financial years.
Category: News
Reminder Super Changes For The 2021 Financial Year

Reminder Super Changes For The 2021 Financial Year

From 1 July 2021, a whole raft of superannuation changes as a part of the government’s more flexible superannuation changes has come into effect. Three of the most important changes consist of the increase in bring-forward arrangement contributions cap, the removal of the excess contributions charge, and re-contribution changes.
Category: News
Tax Consequences of Rent Deferral or Waiver

Tax Consequences of Rent Deferral or Waiver

As many tenants and landlords turn their attention to their 2020-21 tax returns, one of the big questions is perhaps how they should treat rental concessions provided and received during the last financial year as a result of COVID-19. Tax treatment of these rental concessions depends on a variety of factors and are outlined below.
Category: News
Claiming Small Business CGT Concessions

Claiming Small Business CGT Concessions

The Government is continuing to tighten the eligibility rules for claiming tax concessions relating to small business capital gains tax (CGT) obligations.

If you qualify, these concessions can have a big impact on how much of the profit from the sale of a business asset you get to keep, and how much goes to the tax man.

Given the generous nature of the concessions, the ATO is keen to ensure they are used appropriately.
Category: News
ATO Data-Matching Residency

ATO Data-Matching Residency

The ATO has announced that it will be conducting a new data-matching program with information from the Department of Home Affairs on passenger movements during the 2016-17 to 2022-23 income years. It will use this data to determine whether business entities and individuals are residents and whether they have met their lodgment and registration obligations.
Category: News
Benefits Of Family Trusts

Benefits Of Family Trusts

Many of you have heard of family trusts, but perhaps don’t know too much about their benefits and how they differ from the usual non-fixed trusts. Essentially, a family trust is a trust where the trustee has made a valid family trust election (FTE) for tax purposes. By becoming a family trust, the trust is able to access certain tax concessions which may be beneficial.
Category: News
Market Movements and Economic Review Video August 2021

Market Movements and Economic Review Video August 2021

Stay up to date with what's happened in Australian markets over the past month.

Our August update video takes you through key economic indicators, as both markets and the economy react to the continued on-again, off-again lockdowns throughout across numerous states in July.
 
Category: News
Using The Margin Scheme On Property Sales

Using The Margin Scheme On Property Sales

With the property market booming despite low wage growth and the after effects of the pandemic, many developers are getting back into the market. If you’re in the business of selling property, you may be able reduce the amount of GST payable on sales of new property by using the margin scheme if certain eligibility requirements are met and a choice is made.
Category: News
Steps To Get  A Deduction For Bad Debts

Steps To Get A Deduction For Bad Debts

As many of the government’s COVID-19 economic supports coming away, economists predict there’ll be many business failures to follow. If your business is unable to obtain payment from a debtor, depending on the accounting method used by your business, you may be able to claim a tax deduction for the unpaid amount.
Category: News
Articles 1 to 10 of 128