News & Articles

Whether you’re looking to stay ahead of tax updates, seeking strategic advice to propel your business forward, or exploring financial best practices for your investment property, our curated content is designed to empower and inform. Dive into our comprehensive collection of articles and equip yourself with the knowledge to navigate the financial landscape with confidence.

NSW Capital Gains Withholding Changes from 2025

NSW Capital Gains Withholding Changes from 2025

New updates to the Capital Gains Withholding (CGW) regime in New South Wales came into effect from 1 January 2025, introducing stricter requirements for property transactions involving foreign residents. These changes will impact both buyers and sellers of real...

read more
New ATO Audit Update: How Rental Bonds Could Flag You

New ATO Audit Update: How Rental Bonds Could Flag You

The Australian Taxation Office (ATO) is stepping up its game, using rental bond data to identify landlords who might not be meeting their tax obligations. Let’s break down what this means for you and how you can ensure you stay on the right side of the ATO.  Why Is...

read more
Why Small Businesses Fail

Why Small Businesses Fail

The high failure rate of small businesses is a stark reminder of how challenging and risky entrepreneurship can be. While external factors like tough industries or unfavorable economic conditions play a role, the leading cause of failure often lies closer to home:...

read more
20 Common Rental Property Tax Deductions

20 Common Rental Property Tax Deductions

Investing in rental properties is a popular choice among Australians, offering a steady stream of income and potential long-term capital growth. Whether you're a seasoned investor or just starting, rental property can be a valuable asset in building wealth. However,...

read more
Guide to Financial Reports for Small Business Owners

Guide to Financial Reports for Small Business Owners

Financial reports are essential tools for understanding the health of your business. They provide crucial insights into your company’s performance, helping you make better decisions about your growth strategy, cost management, and overall financial stability.  In this...

read more
Guide to the NSW Business Equipment Upgrade Program

Guide to the NSW Business Equipment Upgrade Program

What Is the NSW Business Equipment Upgrade Program?  The NSW Business Equipment Upgrade Program provides financial assistance to help you replace outdated, energy-draining business equipment with efficient, cost-saving alternatives. This is a great opportunity to...

read more
PAYG: What Business Owners and Investors Need to Know

PAYG: What Business Owners and Investors Need to Know

PAYG, or Pay As You Go, is Australia’s system for tax withholding and instalments designed to help you meet your tax obligations throughout the year. Whether you’re running a business, managing property investments, or overseeing an SMSF, PAYG ensures you stay...

read more
Bookkeeping Guide for Construction Businesses

Bookkeeping Guide for Construction Businesses

For construction businesses in Australia, effective bookkeeping is essential for managing day-to-day financials and staying compliant with Australian Taxation Office (ATO) guidelines. In a sector known for its complex projects, fluctuating cash flow, and extensive...

read more
How the 2024 NSW Rental Law Changes Impact Landlords

How the 2024 NSW Rental Law Changes Impact Landlords

On October 24, 2024, the NSW Parliament passed the Residential Tenancies Amendment Act 2024, introducing significant changes to rental laws. While these updates aim to balance the needs of renters and landlords, they also place new responsibilities on you as a...

read more
Guide to Division 293

Guide to Division 293

Division 293 tax was introduced in 2012 by the Australian Taxation Office (ATO) that applies to individuals with income above a certain threshold. It imposes an additional 15% tax on concessional (pre-tax) superannuation contributions for those exceeding the...

read more
Why Small Businesses Fail

Why Small Businesses Fail

The high failure rate of small businesses is a stark reminder of how challenging and risky entrepreneurship can be. While external factors like tough industries or unfavorable economic conditions play a role, the leading cause of failure often lies closer to home:...

read more
Guide to Financial Reports for Small Business Owners

Guide to Financial Reports for Small Business Owners

Financial reports are essential tools for understanding the health of your business. They provide crucial insights into your company’s performance, helping you make better decisions about your growth strategy, cost management, and overall financial stability.  In this...

read more
Guide to the NSW Business Equipment Upgrade Program

Guide to the NSW Business Equipment Upgrade Program

What Is the NSW Business Equipment Upgrade Program?  The NSW Business Equipment Upgrade Program provides financial assistance to help you replace outdated, energy-draining business equipment with efficient, cost-saving alternatives. This is a great opportunity to...

read more
PAYG: What Business Owners and Investors Need to Know

PAYG: What Business Owners and Investors Need to Know

PAYG, or Pay As You Go, is Australia’s system for tax withholding and instalments designed to help you meet your tax obligations throughout the year. Whether you’re running a business, managing property investments, or overseeing an SMSF, PAYG ensures you stay...

read more
Bookkeeping Guide for Construction Businesses

Bookkeeping Guide for Construction Businesses

For construction businesses in Australia, effective bookkeeping is essential for managing day-to-day financials and staying compliant with Australian Taxation Office (ATO) guidelines. In a sector known for its complex projects, fluctuating cash flow, and extensive...

read more
Guide to Division 293

Guide to Division 293

Division 293 tax was introduced in 2012 by the Australian Taxation Office (ATO) that applies to individuals with income above a certain threshold. It imposes an additional 15% tax on concessional (pre-tax) superannuation contributions for those exceeding the...

read more
Understanding Tax Rules on Business Losses for Sole Traders

Understanding Tax Rules on Business Losses for Sole Traders

What is a Non-Commercial Loss?  The tax provision for a non-commercial business loss was designed to address a sole trader’s, or a partner in a partnership’s, loss from a secondary business that isn’t the person’s main source of income.    Generally, these losses...

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9 Holiday Cashflow Tips for Small Businesses

9 Holiday Cashflow Tips for Small Businesses

The holiday season can be a boom for small businesses, but it also brings cash flow challenges. With increased demand, you'll need to manage expenses for inventory, staffing, and more. Here are some key tips to help you maintain a healthy cash flow during this busy...

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When Are Employers Required to Pay Super?

When Are Employers Required to Pay Super?

Superannuation (super) is a crucial aspect of financial security for employees in Australia. It ensures that workers have a safety net for their retirement, helping them maintain a comfortable lifestyle when they stop working. As an employer, it is your responsibility...

read more
NSW Capital Gains Withholding Changes from 2025

NSW Capital Gains Withholding Changes from 2025

New updates to the Capital Gains Withholding (CGW) regime in New South Wales came into effect from 1 January 2025, introducing stricter requirements for property transactions involving foreign residents. These changes will impact both buyers and sellers of real...

read more
New ATO Audit Update: How Rental Bonds Could Flag You

New ATO Audit Update: How Rental Bonds Could Flag You

The Australian Taxation Office (ATO) is stepping up its game, using rental bond data to identify landlords who might not be meeting their tax obligations. Let’s break down what this means for you and how you can ensure you stay on the right side of the ATO.  Why Is...

read more
20 Common Rental Property Tax Deductions

20 Common Rental Property Tax Deductions

Investing in rental properties is a popular choice among Australians, offering a steady stream of income and potential long-term capital growth. Whether you're a seasoned investor or just starting, rental property can be a valuable asset in building wealth. However,...

read more
How the 2024 NSW Rental Law Changes Impact Landlords

How the 2024 NSW Rental Law Changes Impact Landlords

On October 24, 2024, the NSW Parliament passed the Residential Tenancies Amendment Act 2024, introducing significant changes to rental laws. While these updates aim to balance the needs of renters and landlords, they also place new responsibilities on you as a...

read more
Strategies to Reduce Capital Gains Tax

Strategies to Reduce Capital Gains Tax

Whether you're a seasoned investor or a small business owner looking to reduce your Capital Gains Tax (CGT), understanding the available options is crucial. The Australian Taxation Office (ATO) provides several ways to legally lower the CGT you owe when selling a...

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Avoid These Common Tax Scams in Australia This 2024

Avoid These Common Tax Scams in Australia This 2024

As Australians handle their financial duties, including filing tax returns and meeting various obligations, they face the ongoing threat of tax scams. However, there is a persistent threat of tax scams, as fraudsters continually develop more sophisticated methods to...

read more
2024-25 NSW Budget: Impact on Property Investors

2024-25 NSW Budget: Impact on Property Investors

The recently announced 2024-25 NSW Budget has made headlines due to a dramatic shift from a projected surplus to a $3.6 billion deficit, revealed on Tuesday, June 18th. With the State’s AAA credit rating at risk, the Government is turning to land taxes for quick cash...

read more
Property Investment Strategies for Business Owners

Property Investment Strategies for Business Owners

Investment properties offer numerous advantages for business owners beyond just financial returns. They provide opportunities for wealth preservation, portfolio diversification, and tax advantages. Additionally, owning investment properties can serve as a hedge...

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What happens if you don’t pay your council rates?

What happens if you don’t pay your council rates?

What are Council Rates? Council Rates in Australia are local taxes levied by municipal or local governments on property owners. These rates are typically based on the land value of the property. The main purpose of council rates is to fund local services and...

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Common Tax Deductions for Tradies

Common Tax Deductions for Tradies

As a tradesperson—whether you’re an electrician, carpenter, plumber, mechanic, or in any other trade—understanding your eligible work-related deductions is crucial for reducing your taxable income. Tradies can claim deductions for tools, vehicle expenses, protective...

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Setting Up a Family Trust in Australia

Setting Up a Family Trust in Australia

When it comes to tax planning and asset protection, trusts are one of the many structures available to any businesses or property investors. For families, a family trust has been a popular vehicle to protect the family’s assets and manage or take advantage of any tax...

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To TRUST or not to TRUST for Property Investments

To TRUST or not to TRUST for Property Investments

There are a lot of comments made that are either untrue or wrong or made due to a misunderstanding but they evolve into rumours that confuse. Just as its wrong to say that everyone needs a Trust it’s also wrong to say that no one needs a TRUST. There are many...

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Hybrid Trust

Hybrid Trust

What is a Hybrid Trust? A Hybrid Trust is a cross between a Discretionary and a Unit Trust. This type of structure is quite appealing because it includes the benefits of both and is an extremely useful structure. You can split the trust up into units while also having...

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PAYG: What Business Owners and Investors Need to Know

PAYG: What Business Owners and Investors Need to Know

PAYG, or Pay As You Go, is Australia’s system for tax withholding and instalments designed to help you meet your tax obligations throughout the year. Whether you’re running a business, managing property investments, or overseeing an SMSF, PAYG ensures you stay...

read more
Guide to Division 293

Guide to Division 293

Division 293 tax was introduced in 2012 by the Australian Taxation Office (ATO) that applies to individuals with income above a certain threshold. It imposes an additional 15% tax on concessional (pre-tax) superannuation contributions for those exceeding the...

read more
When Are Employers Required to Pay Super?

When Are Employers Required to Pay Super?

Superannuation (super) is a crucial aspect of financial security for employees in Australia. It ensures that workers have a safety net for their retirement, helping them maintain a comfortable lifestyle when they stop working. As an employer, it is your responsibility...

read more
Understanding the Latest 2024 Changes to NALI for SMSFs

Understanding the Latest 2024 Changes to NALI for SMSFs

What is NALI? Non-Arm’s Length Income (NALI) refers to income earned by an SMSF that is derived from non-arm’s length transactions. In simple terms, if an SMSF earns income from a transaction that is not conducted on commercial terms—as if the parties involved were...

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Essential Tips When Lodging Your SMSF Annual Return

Essential Tips When Lodging Your SMSF Annual Return

When collating information to submit to your accountant for lodging your 2024 SMSF annual return, there are a few common mistakes to avoid that can save you time, effort, and potential penalties.  1. Correct Information  Double-check all personal and financial details...

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Guide to SMSF: Compliance and Restrictions

Guide to SMSF: Compliance and Restrictions

What is SMSF?  An SMSF, or Self-Managed Super Fund, is a private superannuation fund that you manage yourself. It's a way for individuals to save for their retirement, offering greater control over investment choices, such as stocks, real estate, and other assets....

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How to Grow Your SMSF

How to Grow Your SMSF

What is SMSF?  A Self-Managed Super Fund (SMSF) is a way for Australians to take more control of their retirement savings. Unlike traditional super funds, an SMSF allows its members to be trustees, making wider ranging decisions about investments and managing the fund...

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News update- SMSF mortgage

News update- SMSF mortgage

Do you own property and hold a mortgage in your Self-Managed Super Fund? If so, it might be a good idea to review your current interest rate. At Chan and Naylor Finance, we have had countless clients coming to us with existing Superfund lending products, paying...

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Superannuation guarantee percentage about to increase

Superannuation guarantee percentage about to increase

Are you An employer? At a glance: The super guarantee (SG) rate will increase from 10.5% to 11% on 1 July 2023. You should Update your payroll systems to align with the increase; the new SG rate applies to payments made to workers on or after 1 July 2023. Contact us...

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Why the Current Superfund Rules Are Fair

Why the Current Superfund Rules Are Fair

When Morrison, as treasurer, limited Super to $1.7m (together with a spouse $3.4m), that meant a 5% return earned $170K in tax-free income (for a couple) and $85K for a single, was sufficient to live on and reversed Superfunds from a tax avoidance vehicle to a genuine...

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NSW Capital Gains Withholding Changes from 2025

NSW Capital Gains Withholding Changes from 2025

New updates to the Capital Gains Withholding (CGW) regime in New South Wales came into effect from 1 January 2025, introducing stricter requirements for property transactions involving foreign residents. These changes will impact both buyers and sellers of real...

read more
New ATO Audit Update: How Rental Bonds Could Flag You

New ATO Audit Update: How Rental Bonds Could Flag You

The Australian Taxation Office (ATO) is stepping up its game, using rental bond data to identify landlords who might not be meeting their tax obligations. Let’s break down what this means for you and how you can ensure you stay on the right side of the ATO.  Why Is...

read more
Cash Flow Strategies for Small Businesses

Cash Flow Strategies for Small Businesses

Cash flow is the lifeblood of any business, especially for small businesses where financial margins are often tight. Effective cash flow management is crucial to ensuring that your business can meet its financial obligations, invest in growth, and ultimately succeed....

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Tax Planning Strategies for Small Business Owners

Tax Planning Strategies for Small Business Owners

Effective tax planning is crucial for the success and sustainability of your small business. Properly managing your tax obligations can significantly impact your business’s financial health, helping you maximise profits and support growth. Without a solid tax...

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2024 ATO Audit Focus: 3 Key Areas

2024 ATO Audit Focus: 3 Key Areas

The Australian Taxation Office (ATO) has identified three main areas of focus for this tax season to ensure compliance and accuracy in tax returns. These key areas include work-related expenses, rental property income, and capital gains from cryptocurrency...

read more
Instant asset write-off ending 30 June 2023

Instant asset write-off ending 30 June 2023

Are you A business who intends purchasing or improving an asset before 30 June 2023? At a glance: You are still able to deduct the full cost of eligible assets up until 30 June 2023. You should Contact us if you require any clarification or advice Some pointers about...

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Understanding the Latest 2024 Changes to NALI for SMSFs

Understanding the Latest 2024 Changes to NALI for SMSFs

What is NALI? Non-Arm’s Length Income (NALI) refers to income earned by an SMSF that is derived from non-arm’s length transactions. In simple terms, if an SMSF earns income from a transaction that is not conducted on commercial terms—as if the parties involved were...

read more
Avoid These Common Tax Scams in Australia This 2024

Avoid These Common Tax Scams in Australia This 2024

As Australians handle their financial duties, including filing tax returns and meeting various obligations, they face the ongoing threat of tax scams. However, there is a persistent threat of tax scams, as fraudsters continually develop more sophisticated methods to...

read more
2024-25 NSW Budget: Impact on Property Investors

2024-25 NSW Budget: Impact on Property Investors

The recently announced 2024-25 NSW Budget has made headlines due to a dramatic shift from a projected surplus to a $3.6 billion deficit, revealed on Tuesday, June 18th. With the State’s AAA credit rating at risk, the Government is turning to land taxes for quick cash...

read more
2024 ATO Audit Focus: 3 Key Areas

2024 ATO Audit Focus: 3 Key Areas

The Australian Taxation Office (ATO) has identified three main areas of focus for this tax season to ensure compliance and accuracy in tax returns. These key areas include work-related expenses, rental property income, and capital gains from cryptocurrency...

read more
The ATO’s Legal Win Over SingTel

The ATO’s Legal Win Over SingTel

The Australian Tax Office (ATO) has secured a noteworthy win in court against SingTel regarding its purchase of Optus, marking a significant moment for tax compliance among multinational corporations. This victory underscores the necessity for companies to adhere to...

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FBT Exemptions for Electric Vehicles

FBT Exemptions for Electric Vehicles

What is Fringe Benefits Tax (FBT)? Fringe Benefits Tax, commonly known as FBT, is a tax employers pay on certain benefits they provide to their employees, including their employees' family or other associates. The benefit may be in addition to, or part of, their...

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