Blog

From 1 July 2023, trustees and directors of SMSFs must report certain events that affect their members transfer balance account quarterly. These events must be reported by lodging a ‘transfer balance account report’ (TBAR) no [...]

If you run your business through a family trust, there’s some good news on the distribution front. In mid-April, the ATO responded to the landmark trust distribution case, namely the Guardian AIT appeal ruling in [...]

One of the most common decisions facing business is how to finance and account for the acquisition of a motor vehicle. There are numerous ways of doing so, with each resulting in differing accounting, taxation [...]

It’s now only a week or so until the Federal Budget, which is to be handed down on 9 May. Some of the things to look out this year potentially include: Abolition of Temporary Full [...]

Are you an employer who needs to make superannuation guarantee (SG) contributions for your employees? If so, it may be worthwhile bringing forward these SG contributions to before 1 July to benefit from a tax [...]

This could be the final opportunity for your business to take advantage of Temporary Full Expensing (TFE)…but get in before 1 July! To recap, TFE encourages and supports businesses by allowing an immediate deduction for [...]

Did you know there is around $16 billion in lost and unclaimed superannuation across Australia? The ATO recently indicated this is an increase of $2.1 billion since last financial year and is urging Australians to [...]

The Government has welcomed the actions of an ATO-led taskforce in relation to what is termed “the biggest GST fraud in Australia’s history”. The ATO states that the fraud was first detected in early 2022 [...]

ASIC has released fresh and timely information around crypto scams. Scammers use cryptocurrencies, like bitcoin or ether, because they are not easily recovered. Crypto can be sent overseas quickly with limited oversight. If you lose [...]

With car fringe benefits one of the most common benefits provided by employers to employees, a new ATO fact sheet shines more light on the FBT exemption for electric vehicles. To recap, in the October [...]