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.
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...
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...
Unrealised Gains Tax Explained: How It Could Impact Your Super
How would you feel if you were taxed on paper gains (before asset is even sold) instead of being taxed on cash gains (after you have sold the asset) and you have the cash to pay the tax? What Is Being Proposed? Treasurer Jim Chalmers proposed a new policy during the...
7 Smart Tax Tips Every Property Investor Should Know
If you own a rental property, you know how important it is to stay ahead of tax time. While interest rates, property prices, and policy debates might come and go, one thing stays the same—smart tax planning can help you save money and make your investment more...
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...
How Labor’s 2025 Tax Plan Impacts You
With a renewed and stronger mandate following the May 3, 2025 federal election, the Anthony Albanese-led Labor government is set to continue reshaping Australia’s tax landscape. Their focus remains on delivering cost-of-living relief, boosting fairness in the system,...
How Trump’s Trade Tariffs Could Affect Australia
Protectionist policies like those introduced by Donald Trump could have significant negative impacts on smaller, trade-dependent economies like Australia. Our economy thrives on exporting natural resources such as iron ore and gas—exports that played a crucial role in...
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...
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...
2025 ATO Compliance for Employers
As we find ourselves more than halfway through 2025, it is vital for business owners to remain vigilant regarding their employer responsibilities to prevent penalties and maintain smooth operations. Several upcoming changes and deadlines could have an impact on your...
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:...
Australian Payroll: Compliance, Requirements, and Entitlements
Payroll is a critical aspect of running any business in Australia. Ensuring your payroll processes are accurate, compliant, and efficient helps maintain employee trust and avoids penalties for non-compliance. Let’s explore the key considerations for Australian...
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...
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...
Tax Implications of Different Business Structures in Australia
As your business evolves, so do its needs—and the structure that once served you well may no longer be the most tax-efficient or protective. Many established businesses find themselves outgrowing their original business structure, often leading to missed opportunities...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
10 Tax Mistakes to Avoid When Buying Your First Property Investment
Congratulations on taking the exciting step towards property investment – a venture with the potential to shape your financial future! Amid the enthusiasm of acquiring a significant investment asset, it's crucial to address a less glamorous yet integral aspect: taxes....
2024 Tax Planning Tips for Property Investors
As the new year unfolds, seizing the opportunities of owning an investment property in Australia still tops the list of many seasoned investors' New Year’s Resolution. To pave the way for financial success in the fresh year, adeptly navigating the complexities of...
Softer refinancing policies available as fixed-rate mortgage terms expire
Almost 880,000 borrowers will need to find hundreds or thousands of dollars more each month when their fixed-rate periods expire this year. And for many, refinancing loans with a new lender (and a cheaper rate) has proven impossible due to strict criteria from the...
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...
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...
Small Business Owners and Property Investors Trust “PIT™”
If you are a Small Business owner then you should seriously consider purchasing your residential or commercial investment property in a Property Investors Trust. Some of the questions you may be asking: What is the best entity to own a property in? There are many...
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Superannuation Guarantee Amnesty, Act now! | Chan & Naylor
Have you applied for the Superannuation Guarantee Amnesty yet? Australian employers only have until 7 September 2020 to disclose, lodge, and pay to the Australian Taxation Office (ATO) unpaid superannuation guarantee or they’ll face penalties for their shortfalls. So...
Tax Tips for Investors – Tax Accountants
Many Australians invest in property, financial markets and other assets, both in Australia and overseas. Managing the tax on your investments can help you increase your wealth. The ATO’s data matching and information-gathering capabilities are significant and cover...
Tax Tips for Employees & Contractors | Chan & Naylor
Staying on top of your taxes and constant changing rules can be time consuming for employees and contractors. The impact of Covid-19 on business and taxpayers along with data matching technology employed by the ATO, taxpayers need to be more aware of checking work...
Get Ready for EOFY – Tax Planning Strategies
As we head into the new financial year, we have curated a list of facts that you should consider, when planning your EOFY tax returns. If you are considering tax planning issues for 30 June 2022 and beyond, the following information will provide you with some...
Are Financial Advisers Worth It?
Deciding whether to get a financial adviser or manage your own investments is a big decision. Not everyone needs an ongoing relationship with a financial planner or adviser. Financial advisers are professionals who can help you plan and manage bigger financial...
How to choose the right accountant
Choosing an accountant is like choosing a new business partner. The right accountant will become a trusted colleague and advisor you can depend on, who offers advice and guidance as your business or personal investments grow. Once you’ve decided it’s time to hire an...
Director Identification Number
Company directors need to verify their identity as part of a new director identification number (director ID) requirement. A director ID is a unique identifier that a director will apply for once and keep forever – which will help prevent the use of false or...
Business Tax Planning Tips
While planning of any kind has been challenging over the past 12 months, tax time remains a certainty for all businesses and individuals who are working from despite the easing of Covid-19 restrictions. Tax planning should be a key element of your business and...
Income Tax Planning – EOFY 2021
Preparing Your Income Tax Returns for EOFY – June 30, 2021 Now is a great time to review tax planning opportunities and consider where you might stand to benefit. Tax Planning for Individuals We have produced a comprehensive Tax Planning Guide for Individuals to...
What is Financial Accounting and Why It’s Important
What is financial accounting and why is it important to a business? Sometimes called the “language of business”, financial accounting is the method of finalising financial accounts. It generally follows the three-step process which are: Review – accountants review the...
Are Your Melbourne Cup Gambling Winnings Taxable?
Every year, the Melbourne Cup or the race that stops a nation, as is locally known, the question of whether the Australian Taxation Office (ATO) considers gambling winnings taxable often crop up. The Melbourne Cup is always expected to draw a big crowd of spectators...
Tax return: Working out your income tax as a sole trader
For many Australian sole traders, understanding your tax return and how your income is taxed will help you to make informed decisions about your money. The Australian income tax system is based on the self-assessment principle. This means the Australian Taxation...
Franking Credits: How does it function and who profits?
Franking refers to tax credits, and the process that eliminates or reduces the taxation of cash payouts to its shareholders is referred to as dividend imputation. The tax credits are beneficial to individuals on high tax rates and to individuals on lower tax rates, as...
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...
Tax treatment of cryptocurrencies – How the ATO deals with it.
Tax treatment of cryptocurrencies – How the ATO deals with it. The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on a blockchain....
Federal Budget 2021 – Business Owners
A number of important measures were announced to more broadly support business taxpayers. These measures will support businesses to invest and grow, remove unintended consequences and reduce compliance costs. Extension of temporary full expensing measure A one year...
Federal Budget 2021 – Benefits for Individuals
Many individuals will also directly benefit from the 2021-22 Federal Budget with reduced taxes for low and middle income earners, support for child care, greater access to voluntary superannuation contributions under the Government’s First Home Super Saver Scheme and...
2020-21 Victorian Budget
The Highlights The Victorian Government will offer stamp duty discounts and spend close to $50 billion on other concessions, subsidies and projects in a bid to get hundreds of thousands of people back to work and breathe new life into a State economy battered and...