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.

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...

Director Identification Numbers: What you need to know

What is a Director Identification Number? A Director Identification Number, commonly known as a DIN, serves as a unique identifier for directors and plays a pivotal role in enhancing transparency and accountability within the corporate sector. Mandated by recent...

Tax Guide for Medical Professionals

With the ATO closely scrutinising work-related expense claims, medical professionals including doctors, dentists, ophthalmologists, therapists, chiropractors, among others, can benefit from the Australian Taxation Office's enhanced support and guidance. Recognising...

A Comprehensive Guide to Employee Share Scheme for Business Owners

What are Employee Share Schemes? Employee Share Schemes (ESS) refer to programs initiated by companies to offer their employees the opportunity to acquire shares or an ownership interest in the company. These schemes are designed to incentivise and reward employees...

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...

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....

Tax Guide for Lawyers

Understanding the nuances of tax deductions is critical for lawyers, particularly with the Australian Taxation Office (ATO) increasing scrutiny on expense claims. That's why it's crucial for you, as a lawyer, to understand what you can and cannot claim to ensure...

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...

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...

How to find my ABN?

What is an ABN? An Australian Business Number (ABN) is a unique 11-digit identifier that allows businesses in Australia to interact with various government departments, including the Australian Taxation Office (ATO), and the community. It's used for various tax and...

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...

How to Claim Fuel Tax Credits for Businesses

What are Fuel Tax Credits? Fuel tax credits are a financial return for businesses to offset the cost of fuel tax, including excise or customs duty, on fuel used in business operations like running machinery, equipment, heavy vehicles, and light vehicles on private...

JobMaker Hiring Credit | 2020-21 – How you can apply

JobMaker 2020-21 | Does your business qualify? On 6 October 2020 as part of the 2020–21 Federal Budget, the Morrison Government announced a new incentive for businesses to employ additional young job seekers called the JobMaker Hiring Credit. The JobMaker Hiring...

Federal Budget 2020 | Personal Income Tax Changes

Key insights Bringing forward personal income tax cuts should result in an immediate cash increase for most employees. Low income earners will receive additional support through the increase to the Low Income Tax Offset and maintaining the current Low and Middle...

Federal Budget 2020 | Aged Care Updates

Enhanced access, quality and safety in aged care The 2020-21 Budget provides a record level of $2.0 billion support into aged care over four years to progress reforms to deliver improved outcomes for consumers and providers. Support for consumers includes: $1.6...

Federal Budget 2020 | Business Tax Changes

The Budget has introduced temporary measures intending to stimulate business investment and deliver further cash flow benefits. Key insights To assist eligible businesses impacted by COVID-19, temporary tax loss carry-back measures have been introduced to offset...

Business Survival & Adaptation Package

Welcome to Part Three of The Business Support Fund – Expansion. If small business has a choice, I am sure that they would prefer to have not been affected over the past six months by COVID-19 and would like to operate under normal circumstances like many other small...

Has your business made a tax loss this year?

An understatement is that this has certainly been a difficult year, and we are certainly seeing that many businesses have made a tax loss. A tax loss is when the total deductions you can claim, excluding gifts and donations, are greater than your total income for any...

Have you received a government payment or grant?

IF your business has received a grant or payment from the Australian Government or a State or Territory Government, you may need to include it in your tax return. Some grants and payments are assessable income and so need to be included in your tax return. Grants and...

Marketing vs Selling – What is the Difference?

During these unprecedented times, I have had many questions from small business owners around what they can or should be doing? My answer to that is to do marketing, and then do more marketing. It will pay massive dividends down the track. It’s a bit like planting...

JobKeeper Extension: What this means to business and employees

JobKeeper extension has been announced by the government. Payment for JobKeeper is now extended until 28 March 2021 for businesses and not-for-profit organisations severely affected by the COVID-19 pandemic. The payment extension, however, will be reduced and paid at...

ATO Employer Reminder – STP Data Needs to Be Finalized for 2020

A reminder has been issued by the ATO to employers reporting through STP (Single Touch Payroll). That applies to just about every employer, assuming that deferral or exemption isn’t involved. Employers need to have payroll information finalized for the income year of...

3 Smart Ways To Manage Personal and Business Cash Flow

Managing your personal or business cash flow is the cornerstone of any financial plan. Even without COVID-19, poor cash flow management can lead to expensive failure not just in business but also in your personal wealth creation journey. Now that we’re all facing...

ASIC Company Fees From 1 July 2020

Each year, ASIC Company Fees, consistent with the value of Consumer Price Index (CPI), increase effective 1 July. This year, the ASIC has advised of the increase. Below is the comparison of current ASIC Company Fees and the fees that will apply from 1 July 2020. ASIC...