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.
Protecting Family Wealth: Safer Alternatives to Gifting Money to Your Children
After more than 40 years of advising families, I’ve seen many parents make the mistake of gifting money to their children. It may feel generous to give them a deposit for their first home or provide a loan to help with a purchase, but this can easily backfire. With...
Why Share Prices Follow the Business
It’s easy to get distracted by daily price changes. Over time, though, share prices tend to follow the strength of the business behind them. Share Prices Reflect Business Fundamentals When you invest in shares, it’s easy to get distracted by daily price...
Tax Obligations of Online Sellers in Australia
Online selling has become one of the fastest-growing ways to run a business, both for Australians and for overseas sellers reaching Australian customers. Whether you sell physical products, digital goods, or services, it’s important to understand your tax obligations....
GST and BAS Obligations for Commercial Property Lessors
If you own and lease out commercial property, understanding your GST and BAS obligations is key to staying compliant and managing your finances well. Unlike residential landlords, commercial property lessors often deal with GST on rent and outgoings, which means you...
Do Sole Traders Need to Lodge a BAS?
If you’re a sole trader, you might be wondering if you need to lodge a Business Activity Statement (BAS). Understanding your BAS obligations is essential to stay on the right side of the Australian Taxation Office (ATO) and avoid costly mistakes. Here’s what you need...
How Using Property for Business Affects Your Tax in Australia
If you use a property to run your business—whether you own it, lease it, or use part of your home—it’s important to understand how that affects your taxes. The way you use property can change what you can claim, how you report your income, and what happens if you sell...
BAS Tips for Small Business Owners
For every small business in Australia that’s registered for GST, preparing and lodging a Business Activity Statement (BAS) is a must. Staying compliant with the Australian Taxation Office (ATO) means lodging on time, reporting accurately, and keeping your records in...
Claiming GST on eCommerce Business Expenses
Running an online business in Australia—whether you sell on Amazon, Shopify, eBay, or your own website—means staying on top of your GST obligations. If you're registered for GST, claiming GST credits on eligible business expenses can significantly reduce how much you...
Top 6 GST Mistakes Made by Importers & Exporters in Australia
If your business buys from overseas or sells to customers outside Australia, it's important to understand how GST works. Getting it wrong can mean missed tax credits, penalties, or problems with the ATO—especially for small and growing businesses. Here are some of the...
Repairs and Maintenance Tax Deductions for Small Businesses
If you run a business or own a rental property, repairs are part of the job. But not all repair costs are treated the same at tax time. Knowing what the ATO lets you deduct—and what needs to be claimed over time—can help you avoid mistakes and boost your return....
Wages and Super Tax Deductions for Small Businesses
If you run a business, you may be able to claim tax deductions for salaries, wages, and super contributions paid to employees. To qualify, the payments must be for genuine work and meet your tax and super obligations. Tax Deductions by Business Structure Sole...
Australia’s Luxury Property Market Reaches New Heights in 2025*
Thinking of buying a high-end property or just curious about how the luxury market is doing? Here’s some good news—Australia’s luxury property market is booming again. According to the 2025 Prestige Property Report by Westpac, the value of top-tier homes reached a new...
Top 6 GST Mistakes Made by Importers & Exporters in Australia
If your business buys from overseas or sells to customers outside Australia, it's important to understand how GST works. Getting it wrong can mean missed tax credits, penalties, or problems with the ATO—especially for small and growing businesses. Here are some of the...
Repairs and Maintenance Tax Deductions for Small Businesses
If you run a business or own a rental property, repairs are part of the job. But not all repair costs are treated the same at tax time. Knowing what the ATO lets you deduct—and what needs to be claimed over time—can help you avoid mistakes and boost your return....
Wages and Super Tax Deductions for Small Businesses
If you run a business, you may be able to claim tax deductions for salaries, wages, and super contributions paid to employees. To qualify, the payments must be for genuine work and meet your tax and super obligations. Tax Deductions by Business Structure Sole...
Property Developer’s Guide to Tax and GST in Australia
Whether you're subdividing land, building to sell, or flipping houses, property development in Australia comes with strict tax and GST obligations. The Australian Taxation Office (ATO) treats developers differently from investors — and misunderstanding this difference...
Extended Instant Asset Write-Off for Small Businesses
What Is the Instant Asset Write-Off? The Instant Asset Write-Off is a tax incentive that lets you instantly deduct the full cost of assets you buy for your business, rather than depreciating them over time. This means you can reduce your taxable income for the year,...
SPVs for Property Developers
What is a Special Purpose Vehicle (SPV)? A Special Purpose Vehicle (SPV) is a legal entity created for a specific, narrow objective—often to hold a particular asset, manage a project, or isolate financial risk. SPVs are commonly used in property development, joint...
Property Investment Strategies to Grow Your Business
Investing in property can do more than just build wealth—it can also strengthen your business. When done strategically, property investments can reduce costs, provide stability, and create long-term financial security. Whether you’re looking to expand, increase...
2025 Federal Budget: Key Updates & What They Mean for You
The 2025 Federal Budget introduces key financial updates aimed at easing cost-of-living pressures, adjusting tax settings, and refining superannuation rules. These changes may impact your income, savings, and retirement strategy. Here’s a breakdown of the major...
NSW Business Owners: Apply for $1,000 SafeWork Rebate
If you're a small business owner in NSW, you might be eligible for the $1,000 SafeWork Small Business Rebate. This government program helps businesses, sole traders, charities, and not-for-profits improve workplace safety by covering the cost of certain safety...
What to Do When an Employee Leaves
When an employee or independent contractor stops working for your business, your obligations don’t end immediately. You may need to process final payments, report them correctly to the Australian Taxation Office (ATO), and ensure compliance with superannuation and...
Division 7A Myths Debunked: What the ATO Wants You to Know
Division 7A of the Income Tax Assessment Act 1936 is often misunderstood by business owners. Many believe they can withdraw company money or provide financial benefits to shareholders without tax consequences. However, the Australian Taxation Office (ATO) has clear...
NFP Self-Review Return: Does Your Not-for-Profit Need to Lodge?
If your organisation is a non-charitable not-for-profit (NFP) with an active ABN, there’s a new requirement you need to know about. Starting from the 2023–24 financial year, these NFPs must lodge an annual NFP self-review return to confirm their eligibility for income...
Property Investment Strategies to Grow Your Business
Investing in property can do more than just build wealth—it can also strengthen your business. When done strategically, property investments can reduce costs, provide stability, and create long-term financial security. Whether you’re looking to expand, increase...
Property Investors Trust: A Smart Way to Safeguard Your Assets
For property investors, protecting assets is just as important as growing them. With the right structure in place, you can shield your real estate investments from legal and financial risks while maximising tax benefits. One of the most effective structures for asset...
Top Strategies for Lowering Your 2025 NSW Land Tax Bill
With the 2025 NSW Land Tax Assessments now arriving, it’s important to check if you’re paying more than you should. Many property owners miss out on exemptions or end up with unexpected charges simply because they don’t understand the rules. Here are some key factors...
How the 2025 RBA Rate Cut Impacts Your Mortgage Repayments
If you’re like millions of Australians, you’re probably relieved after getting a break from the Reserve Bank of Australia (RBA) following consistent interest rate hikes since April 2022. The good news? Most banks have agreed to pass on the 0.25% rate reduction,...
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...
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...
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,...
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...
Is Your Rent Competitive? Find Out with the NSW Rent Check
As a landlord, you’ve likely felt the pressure of rising interest rates and personal cash flow challenges. These financial strains can make it difficult to service your investment properties. You may be considering increasing rent to alleviate some of this burden but...
Tips to Protect Your Personal Assets from Business Lawsuits
As a business owner, protecting your personal assets from potential lawsuits is crucial to maintaining your financial security. The Australian Taxation Office (ATO) provides clear guidelines on how you can safeguard your wealth. In this article, we will explore seven...
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...
Top Things to Know Before Investing Overseas with Your SMSF
When thinking about investing overseas with your Self-Managed Super Fund (SMSF), it's essential to perform detailed research upfront. As an SMSF trustee, you have the autonomy and duty to decide on your investment strategies. Determining Asset Allocation As a...
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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...
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...
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...
Why SMSF to Invest in Property
Recently, the government has proposed higher taxes on Superfunds and limitations on the amounts allowed to be held in a SMSF. In my opinion, this would be a serious long-term mistake, as it may discourage people from becoming self-sufficient and force them to rely on...
What’s all the fuss about a Self-Managed Superannuation Fund (SMSF)?
Despite recently proposed changes announced by the Government, your superannuation (super) fund will most likely be the primary vehicle for achieving your retirement goals and if managed properly, it should end up being one of your largest assets – more than enough to...
Public Super or Self Managed Super Fund – It Is All About Performance
The whys of poor super funds performance always boil down to one reason and mostly one reason alone: the fees are too high. While it's a good idea to have your super managed by a fund if you don't have the time nor the expertise to manage it, staying in control of...
Changes to Superannuation
There are a lot of changes proposed for Superannuation in 2022. Thanks to constant changes in super rules, it's all too easy to miss out on an opportunity you didn't know existed. What we know as of February 2022. – Great news for retirees The key superannuation...
New Disclosure Reform Warnings | Chan & Naylor
Super funds warn members may lose out from new disclosure reforms The Australian Institute of Superannuation Trustees (AIST) has come out with a warning that new disclosure regulations may harm member returns. “Requiring super funds to disclose the precise value of...
Superannuation Fees Explained
Superannuation Fees Explained | What Fees are you charged A previously released study from the Productivity Commission has revealed that Australians who moved from poorly performing funds to the best fund could benefit by as much as $600,ooo in retirement. (Source:...
Federal Budget 2021 – Superannuation Changes
No changes to increase in superannuation guarantee percentage Despite increasing pressure from some businesses and the media to again pause the superannuation guarantee (SG) rate, no changes were announced to the SG rate in the Budget. Consequently, from 1 July 2021,...
Top Tips for Preparing Your End Of Financial Year (EOFY) Income Tax Return
Top Tips for Preparing Your Income Tax Return The end of the financial year can be an exhausting and stressful time for small businesses and individuals. Throw in the complications of Covid-19, and, preparing for the EOFY has become an increasingly complicated process...
Have you considered setting up a SMSF?
Reasons for setting up an SMSF Most people invest their Superannuation in Retail or Industry Superfunds with their employers making contributions of Super guarantee contributions and sometimes salary sacrifice. Fund managers then make investment selection on behalf of...
2024 Federal Budget: Tax Reforms, Small Business Support, and Social Initiatives
On 14 May 2024, the Australian Federal Government presented the 2024/25 Federal Budget. This budget outlines a comprehensive plan to strengthen the country's economy and provide more support to its citizens. Announced in a time of changing economic conditions, the...
Essential Qualities to Look for in Your Property Accountant
Searching for the ideal property accountant is similar to discovering a trusted ally for your financial path. It’s about partnering with someone who shares your commitment to success. In this guide, we'll unveil the 10 essential qualities your property accountant...
Revised Stage 3 Tax Cuts in Australia: What You Need to Know
Key Points Prime Minister Anthony Albanese announced significant changes to Australia's Stage 3 tax cuts on 25 January 2024. The lowest tax rate is reduced from 19% to 16% for incomes under $45,000. Adjustments made to tax brackets to provide relief for middle-income...
The 2023-2024 Federal Budget Updates – Key Tax Measures
The 2023-2024 Federal Budget was introduced amid daunting economic challenges, including high inflation, escalating interest rates, a persistent housing supply crisis, and an unstable global financial market. Nevertheless, the budget offers a glimmer of hope as it...
Private health insurance rebate income thresholds are changing
Are you A taxpayer who has private health insurance? At a glance: On 1 July 2023 (for the 2023-24 income year), the income thresholds for the calculation of the private health insurance rebate will change. You should Contact us if you require clarification or advice....
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...
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...
Top 10 Tax Deductions for Small Businesses
Running a business is always challenging. Between inventory, paperwork, and taxes, having your own business can sometimes feel like an uphill battle. But don't let the confusion of filing tax returns get you down, small business owners can take advantage of plenty of...
A New Compliance Storm – Director Penalties
New figures from the ATO reveal that it issued 18,500 Director Penalty Notices (DPNs) in 2022 and disclosed the tax debts of almost 500 businesses to credit referral agencies. This new weapon waved in $714 million tax debt payment for the Government agency, and an...
Rate rises, when will they end?!
On the first Tuesday in December Phillip Lowe and the RBA announced their 8th consecutive increase to the Reserve Bank Cash Rate. This takes us to the highest cash rate (3.1%) in over 10 years, and this has and will have, a significant impact on the housing and...
Unwrapping the Joys and Pitfalls of Giving
Christmas is a time of giving, when thoughts turn to family and to helping those less fortunate. To gift in a meaningful way that maximises the benefits, it’s important to consider tax. While Australia doesn’t have a gift tax, there are tax considerations...
Tax Tips for Small Business owners
Small business owners often interact with the ATO and their tax agent throughout the year. Tax time provides an added opportunity to ensure your tax affairs are in order, obtain essential tax advice and see if you can improve your tax position. You should speak to you...
Ed Chan and Cindy Su Finalists for 2024 Australian Accounting Awards
Edit: We are very proud to announce that Cindy Su has won the highly coveted 2024 Partner of the Year Award. This achievement highlights her exceptional leadership and dedication to the accounting profession. - We are thrilled to announce that our co-founder and...
Recent ATO Focus: Payment Plans and Rental Property Deductions
In a time of increased oversight and stricter regulations, the Australian Taxation Office (ATO) is emphasising that tax reliefs like payment plans should be accessed only by those who truly need them. Additionally, the ATO is keeping a close watch on deduction claims...
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...
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...
Federal Government Announces Changes to Superannuation Contribution Caps
Discover the latest updates in superannuation contributions brought to you by Chan & Naylor. The Federal government has just announced significant changes to contribution caps, set to take effect from July 1, 2024. Let's explore these changes and their potential...
Revised Stage 3 Tax Cuts in Australia: What You Need to Know
Key Points Prime Minister Anthony Albanese announced significant changes to Australia's Stage 3 tax cuts on 25 January 2024. The lowest tax rate is reduced from 19% to 16% for incomes under $45,000. Adjustments made to tax brackets to provide relief for middle-income...
Ed Chan: Finalist in the 2023 Australian Accounting Awards | Chan & Naylor
Update: Ed Chan has been awarded the 2023 Thought Leader of the Year. We invite our clients and colleagues to join us in congratulating Ed on this significant achievement. Your support and encouragement are highly appreciated by Ed, and the entire Chan & Naylor...
Protecting consumers from Cryptocurrency scams
In the past few months, the Australian government and regulators have placed a strong focus on protecting consumers from cryptocurrency scams, especially in light of the recent collapse of well-known crypto businesses. One effective strategy to achieve this goal could...
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...
New paid family and domestic violence leave
Employees will soon be able to access 10 days of paid family and domestic violence leave in a 12-month period. All employees in the Fair Work system (including part-time and casual employees) will be entitled to 10 days of paid family and domestic violence leave in a...
Rate rises, when will they end?!
On the first Tuesday in December Phillip Lowe and the RBA announced their 8th consecutive increase to the Reserve Bank Cash Rate. This takes us to the highest cash rate (3.1%) in over 10 years, and this has and will have, a significant impact on the housing and...
NSW Government Small Business Support Package – January 2022
Small Business Support Package The NSW Small Business Support package provides eligible employing businesses with a lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week for the month of February 2022. The minimum weekly payment for employers...