The Federal Treasurer Josh Frydenberg handed down the 2022–23 Federal Budget on 29 March 2022. In an economy emerging from the pandemic, the Treasurer confirmed an unemployment rate of 4% and an expected budget deficit of $78 billion for 2022–23. As international uncertainties add pressure on the cost of living, key measures in the budget […]
Australian Federal Budget 2022/23: the wins for small business Read More »
Crypto-assets (crypto) also known as cryptocurrencies, coins or tokens are digital assets that do not have a physical form. They may not be backed by physical assets. Crypto is a high-risk investment. This is because it is so volatile, often fluctuating by huge amounts within a short period. As with any investment, you must be
What is crypto and why is it such a risk? Read More »
For those fortunate to expect a tax refund each year, there are wise ways to spend your tax refund. For many, it can be an exciting time waiting for those hard-earned dollars to hit your bank account and planning what to spend their refund on. This can often be an opportunity to treat yourself with
Five wise ways to spend your tax refund Read More »
Like many of us, if you have continued to work from home this year, you may be planning to claim different expenses than if you were working in an office. With so many claiming work from home expenses, there a four deductions on the ATO’s watchlist this year that they will be looking at closely:
The four deductions on the ATO’s watchlist this year Read More »
The new financial year has arrived and so has several updates to the tax system and new policies impacting superannuation, healthcare, wages and tax rates. Here’s what you need to know post 1 July 2021. Superannuation payments to increase Working Australians will receive a 0.5% boost to their superannuation fund. Legislation requires superannuation contributions to
Tax changes and updates from 1 July 2021 Read More »
It’s almost 30 June. Have you done your trust distribution minute and/or intend to pay your beneficiaries a dividend? If you have a discretionary trust, then 30 June is an important date for you. The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset
Trust Distribution Minutes and Dividend Statements: what you need to know before June 30 Read More »
Treasurer Josh Frydenberg has delivered a free spending budget designed to drive employment growth, while also allocating increased funding to social programs such as disability services, aged care and mental health, as well as women’s economic security. Included also is the extension of support to taxpayers through the retention of the low and middle-income tax
Federal Budget 2021/22: What are the wins for SMEs? Read More »
It is probably safe to say that one of the financial matters we all dread is our tax. For those with more complicated tax matters and expensive deductions, the importance of keeping and tracking receipts for tax purposes is crucial. So, how do you stay on top of them? How do you safely store these
The importance of keeping receipts for tax purposes Read More »
Article updated April 2022. For many of us, COVID-19 saw us switching to at-home working arrangements almost overnight and many of us continue to do so. If you or your staff are entitled to claim work from home expenses, it is important to understand how to calculate eligible expenses to claim a deduction at tax
How to calculate your work from home expenses Read More »
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