Practice Update June 2023 covers following points: 2023/24 Budget Update In the ATO’s sights this Tax Time ATO advice regarding year-end trustee resolutions ‘Side hustles’ in the ATO’s sights ATO ride sourcing data-matching program Click here for Practice Update June 2023
A business can adopt various structures. But choosing one from so many options available can be a difficult task for any owner. Making the right decision about your Business structure is critical, as the type of structure you choose can impact how your business is owned and run, how much tax will have to be…
SMSF is a Self-managed Superannuation Fund that offers a higher degree of flexibility and freedom than traditional Superannuation Funds. In layperson terms, SMSFs are a DIY Super that you or a maximum of six members can manage. In similarity to the traditional Supers, these funds are also set up for the sole purpose of maximising…
Whether large or small, every business experiences a period of turbulence. Thus, companies tend to pursue business restructuring to stay afloat and conduct business more efficiently and profitably. Companies undergo a restructuring process to deal with any weaknesses and inefficiencies. These may include a fall in profit margin, changes in ownership or corporate strategy, or…
Practice Update May 2023 covers following points: Last chance to claim deductions under temporary full expensing Residential investment property loan data-matching program Electric vehicle home charging rates: cents per km Taxpayers not carrying on an agistment business Know the rules for accessing superannuation Click here for Practice Update May 2023
Practice Update April 2023 covers following points: New 15% super tax to apply from 1 July 2025 Start thinking about your FBT obligations FBT exemption for electric cars Tips to reduce study and training loan balances Reminder of March 2023 Quarter Superannuation Guarantee (‘SG’) Click here for Practice Update April 2023
Practice Update March 2023 covers following points: Significant change to claiming working from home expenses Transfer balance cap indexation ATO and Australian Federal Police crackdown on GST-fraud promoters Click here for Practice Update March 2023
Changes to Work From Home Deductions – 2023 An ATO review of the new Work-From-Home Deduction methods were announced by the Assistant Commissioner Tim Loh. As the $0.80 ‘Short Cut Method’ was made redundant after the 30th of June 2022, meaning Tax Returns in 2022-2023 will have to use one of two methods when claiming their…
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