The government plans to give companies greater access to prior year tax losses in a bid to stimulate business innovation. A new alternative to the “same business test” – the “similar business test” – will make it easier for companies that have experienced a significant change in ownership or control to carry forward their losses.

Your financial well-being and plans for the future can be impacted by various economic events, so below is a video to assist you to stay up to date with the latest indicators. 

We are proud to be celebrating our 25th year during 2019. Founded by the Late Peter Bodycoat in 1995, the past 25 years have seen many changes in our business, industry and local economy.

Is your business planning to purchase new assets? Perhaps new tools, a vehicle or computer upgrade? If so, you may be able to take advantage of the Coalition’s expanded “instant asset write-off” incentive or other key measures in this year’s federal Budget.

You may know what bitcoin is, but do you know about the tax consequences if you decide to invest in bitcoin on a personal level? Here we explore the implications for income tax, GST and CGT.

The ATO has recently warned taxpayers to be alert to malicious scammers who are using increasingly sophisticated methods and technology to impersonate the ATO. A new tactic on the rise involves “spoofing”, whereby scammers mimic a legitimate ATO phone number visible on caller ID to call or send SMS messages to taxpayers, or mimic a legitimate email domain to send emails.

With house prices rising and well-located land becoming scarce in cities, many Australians are looking for creative ways to tap into the value of their own backyard. Some subdivide, while others take the knock-down and rebuild route. 

Running your own self-managed super fund can be time-consuming, but it’s about to get a little easier thanks to a change announced in the May 2018 Budget. From 1 July 2019 SMSFs will be able to move to three-yearly audits if they have three consecutive clear audit reports and lodged their annual returns on time. 

You may have heard all about the small business tax concessions, but do you know how you qualify for them and whether you’re making the most of the tax concessions available to you?