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Act Now: ATO Interest Charges Will Soon be Non-Deductible

March 13th, 2024

Do you have ATO interest charges hanging over you? Hoping to claim them as a tax deduction when you pay them off? If so, read on, because a recent Government announcement aims to put a stop to interest charge deductibility. Previously, general interest charge (GIC) and shortfall interest charge (SIC) could be claimed as aread more

Understanding Stage 3 Tax Cuts

January 30th, 2024

You’ve doubtless heard the term “Stage 3 Tax Cuts” in the headlines recently, but what’s it all about? The Australian Government is set to implement significant changes to the tax system with Stage 3 Tax Cuts, initially legislated a few years ago under the Morrison government. The federal cabinet has recently approved adjustments to thisread more

Gearing an Investment Property in 2024

January 10th, 2024

The virtues of ‘Positive Gearing’ versus ‘Negative Gearing’ regarding property investment can spark debate and confusion, often without those involved in the conversation having much concrete knowledge about the topic. What’s more, property investors can have unique circumstances and goals. What is important to know, though, is how to make the most of gearing –read more

New Div 296 Tax Legislation for Super Balances over $3m

November 27th, 2023

Is your super balance over, or approaching, $3 million? In October 2023, the Australian Government introduced draft Div 296 legislation aimed at reducing tax concessions for individuals whose total superannuation balance (TSB) exceeds $3 million. The policy consideration of this measure is to achieve a more equitable Australian Superannuation System, and this new measure isread more

Airbnb Tax Crackdown – Your Compliance Guide

November 21st, 2023

Are you one of the record number of Australians with Airbnb, Uber, or other sharing economy income? The ATO’s recent tax crackdown on the “side hustle” has seen data-matching ramped up to ensure compliance, with inflated deductions and omitted income firmly in their sights. With this increased level of scrutiny, how can you stay outread more

Tax Debt Firmly in the ATO’s Sights

September 19th, 2023

If you have operated a business for the past few years, you are probably aware that the Australian Taxation Office (ATO) were a little more willing than normal to extend payment deadlines and work with businesses to ensure the prevailing economic conditions didn’t put them in dire financial straits. More recently, however, the ATO hasread more

Tax Lessons Learned from the 2023 Women’s World Cup

August 22nd, 2023

Just like that, the Women’s World Cup is finished! Over the past month, we’ve seen an impressive run to the semifinals from the Aussies, a few favourites knocked out early, and some intense competition on the pitch. And wouldn’t you just know it, we’ve learned a few tax-related lessons along the way! If you’re readyread more

Audit Insurance: Protecting Businesses & Sophisticated Individuals

August 2nd, 2023

In today's ever-changing and complex compliance landscape, the Australian Taxation Office (ATO) has also become more vigilant over time and enhanced their data-matching capabilities to increase their scrutiny of financial records – meaning individuals & businesses of all sizes and shapes face a higher risk of being audited. To safeguard against the potential financial burdenread more

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