February 1, 2023
As we enter into the new year, with many economists predicting a slowing of the economy, planning your business’s cashflow is more important than ever. Studies suggest that the failure to plan cash flow is [...]
February 1, 2023
The eligibility age for downsizer contributions reduced from 60 to 55 years from 1 January 2023. This means if you are age 55 or older, you could invest the proceeds of the sale of your [...]
February 1, 2023
The ATO has released its new year's resolutions…and there is not a gym in sight! According to the ATO, the five new year’s resolutions to keep if you want to stay on top of your [...]
February 1, 2023
Have you missed the deadline to apply for a director identification number (director ID)? If so, you can still apply! The ATO says it will take a reasonable approach with directors who are trying to [...]
December 1, 2022
Electric vehicles are set to become more affordable for both households and businesses after the government sealed a deal with crossbench Senators on legislation to exempt low and zero emission cars from fringe benefits tax [...]
December 1, 2022
The ATO has issued new draft guidelines around a new method (the revised fixed rate method) of calculating work-from-home running expenses from 1 July 2022 (as an alternative to calculating the actual work-related portion of [...]
December 1, 2022
Hiring additional employees to help with surging end-of-year demand? A New employment form, accessed through ATO online services, will help reduce your compliance time. It’s an easy way for your employees to provide you and [...]
December 1, 2022
From 1 July 2021, the law was changed to allow for six-member SMSFs (up from five members). At the time of writing, the uptake has been slow so far with just 228 funds with six [...]
December 1, 2022
In a recent speech, ATO assistant Commissioner Justin Micale outlined the ATO’s latest compliance issues for those who operate an SMSF. ID fraud and investment scams While ID fraud and investment scams are still quite [...]
December 1, 2022
Christmas is traditionally a time of giving, including employers showing gratitude to their workers for a job well done throughout the year. However, depending on the nature and value of the gift, and also who [...]
This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.
