The clock ticks towards March 31st, the end of the Fringe Benefits Tax year. Employers are gearing up for “Check your Odometer Day” to report their car usage in the hopes of saving on their electric vehicle tax (EV FBT). But under the…

Australians love property. The lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is enticing for SMSF trustees. It encourages them to pursue the dream of large returns…

Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee - the Temporary Skilled Migration…

The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and…

The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of…

EOFY is once again around the corner, and we encourage business owners to be proactive. Talk to your accountant, look at your books, and make any little adjustments needed before June 30 hits. This will have optimal results for next financial…

As announced in the 2023 May Budget, from 1 July 2026, employers will be required to pay their employees’ super guarantee entitlements on the same day that they pay salary and wages. Currently, super guarantee is paid quarterly. The Government…

For the past couple of years, you may have gotten used to your tax either costing less than you remember, or your refund being more generous. More money for you to spend on necessities, or an extra treat for the holidays. But that won't…

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022…

The Government’s ‘Secure Jobs, Better Pay’ legislation passed Parliament on 2 December 2022. We explore the issues. The Fair Work Legislation Amendment (Secure Jobs, Better Pay) Bill 2022 passed Parliament on 2 December 2020.…

Low interest rates have been a mainstay since the global financial crisis of 2008. When the pandemic hit, Governments pushed stimulus measures through the economy and central banks reduced interest rates even further. Coming out of COVID,…

Thanks for all those who attended our webinar summarising the budget. A recording is now available below:     For some more details read below: There is nothing in this Budget that would create a UK style crisis.…

The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics. While cryptocurrency is a relatively small…

Shaun Farrugia was invited back onto the podcast 'Financial Autonomy' recently, and the episode is now available to listen to. Shaun and Paul Benson talked about family trusts for 40 minutes, and it's worth a listen! They talked about…

The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return. The first point to understand is that gains and losses from crypto are only reported in your tax return when you dispose of it -…

When you think of financial planning, you probably imagine ways to increase your wealth, such as making a budget, reviewing what’s coming in and going out, and creating a plan for how to make the most of your money. You may think of…

Everyone knows you don’t pay taxes when selling a house in which you live…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption. What…

Anthony Albanese has been sworn in as Australia’s 31st Prime Minister and a Government formed. We look at what we know so far about the policies of the new Government in an environment with plenty of problems and no easy fixes. The economy The…

As part of our products and services, we offer Audit Insurance to all of our clients (both business and individual). We partner with Accountancy Insurance for this product as they seem to have the most well rounded and competitive policy.…