Refresher: The Main Residence CGT Exemption


Refresher: The Main Residence CGT Exemption

March 19th, 2021

When it comes to an important moment in your life like selling your family home, the last thing you want is to be slugged with an unnecessary tax liability. Capital Gains Tax (CGT) is something that we’ve covered at length in a few previous articles (see here and here); but today we’ll dig a littleread more

Home-Based Businesses – Know your Deductions

November 6th, 2020

Now that another financial year has been and gone, it can be tempting to put tax to the back of your mind as you gear up for another busy year. However, if you’re running a business, particularly from home, it is crucial that you keep on top of what you can claim as a deductionread more

Deceased Estates & The Main Residence CGT Exemption

October 16th, 2020

When someone passes away, a wide range of financial considerations can arise. From funeral expenses and insurance policies to the tax implications around inherited assets, the associated complexities are most unwelcome at what is already a particularly stressful time. In this article, we’ll be focusing on that last example - particularly how Main Residence Capitalread more

McKinley Plowman Federal Budget Update 2020/21

October 7th, 2020

Welcome to the 2020/21 McKinley Plowman Federal Budget Update! In a year filled with uncertainty, turmoil, crisis, and economic downturn, the Morrison Government’s Budget was always poised to be one filled with recovery measures to get the Australian economy back on track – looking at both the short- and long-term. While the majority of theread more

COVID-19 Compliance at Tax Time

August 19th, 2020

Have you applied for COVID-19 stimulus payments for your business? Have you received the JobKeeper payment as an employee? Taken advantage of the Early Release of Super scheme? There are plenty of compliance-related considerations this tax season! After an unusual and challenging second half of the 2019/20 financial year, we’re certainly not out of theread more

JobKeeper 2.0 – The Next Chapter

July 23rd, 2020

**Updated following announcement on 6 August 2020** The original JobKeeper payment was announced by the Federal Government in late March 2020 in response to COVID-19 and comprised a $1500 per fortnight wage subsidy for businesses so they could continue to pay eligible workers. For the most part, this payment helped keep people employed and theirread more

Working from Home Deductions: The COVID-19 Shortcut Method

July 10th, 2020

Not only has COVID-19 changed the way we socialise and live life day-to-day, the working from home landscape has shifted significantly. What used to be a flexible working arrangement predominantly offered by employers to allow staff to do things like look after children, reduce travel or improve work-life balance, has now evolved into something thatread more

JobKeeper Package – What You Need to Know

April 1st, 2020

The Australian Government has announced a third stimulus package, which is welcome relief for businesses and employees alike. The ‘Job Keeper’ Package will subsidise wages of $1,500 for each eligible employee (per fortnight) for a period of up to six months for all eligible businesses. In case you’ve missed out previous updates on the stimulus packages, feelread more

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