On the back of the popularity of last years due date calendar, we have created a new one for this year. We usually hand out these posters during pre-EOFY tax planning sessions, however this year these were done on Zoom. If you would like to get your hands on one of these posters, please let us know.

  Company tax rate reduces to 26% for base rate entities Cents per km rate for work-related car expenses increase to 72 cents Expected reforms to allow 66 and 67 years olds to make voluntary superannuation contributions without…

With many people now working from home because of COVID-19, some of the expenses your employer normally pays – such as electricity, heating and cooling – are now coming out of your wallet. Although some employers may provide a daily…

*UPDATE* (November 2020) A new article goes over the updates to Instant Asset Write-Off over here. *UPDATE* (June 2020) $150K Instant Asset Write-Off has been extended until 30th December 2020. Read Josh Frydenberg's media release…

23/03/2020 2nd Coronavirus Stimulus Package The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow…

12/03/2020 The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers…

10/03/2020 Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses.  Within a few months, the virus, now called COVID-19, has gone from being a largely unknown…

With a property market recovery underway, most notably in Sydney and Melbourne, Australian investors are once again pursuing their love affair with property investing. For many investors, a popular way to invest directly in residential…

Ten million hectares, lives lost, wildlife on the brink, billions in lost revenue and clean-up costs. For many, returning life to normal is a long way off this summer. Among all the generosity from Australians, celebrities and businesses,…

Running a business keeps you pretty busy, so it’s easy to overlook the help that’s available. Many small businesses don’t realise the government offers a range of valuable concessions that can make a real difference to their annual tax…

Over the course of a lifetime we have people around us who support and guide us. Initially it’s our parents, then as we get older it extends to teachers and coaches. Even when we enter the workforce it can still be helpful to have the…

Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. Recognising the warning signs of potential insolvency is key to trading through difficult times. Basically,…

With all new clients we ask to add us as a user into your Xero file. To help navigate this process we've created some screenshots to help explain how to do this:   1. Click on your Organisation name in the top left hand side of…

Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land. Previously,…

The recent Facebook scandal demonstrates how serious data security breaches can be, but they aren’t limited to large organisations. Is your business data secure? Simply sending a file to the wrong person or leaving your phone in a taxi…

It can take many years and a lot of hard work to build a successful small business. When you finally decide it’s time to sell, tax is often the last thing on your mind. Yet it can have a big impact on how much of the sale price you get to…

Every small business owner wants their business to thrive, but it can be tough to keep the money coming in the door while staying on top of all the necessary paperwork. One way to ensure success is to understand the behaviours that separate…

It’s not uncommon for landlords to be confused about what they can and can’t claim for their rental properties.  In general, deductions can only be claimed if they were incurred in the period that you rented the property or during…

Five years ago, the Australian Taxation Office (ATO) offered a penalty amnesty on undisclosed foreign income. Five years on, the ATO has again flagged that underreporting of foreign income is an issue but this time the gloves are off. How…

Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation Office’s 2018-19 list of most unusual claims. The Lego was not the only claim for money spent…