Tax
Overview of record-keeping rules for business
11 January
You are legally required to keep records of all transactions relating to your tax and superannuation affairs as you start, run, sell, change or close your business, specifically: any documents related to your businessās income and expenses any...[Read More]
Flood support from ATO
4 January
Weāre here to support the community during difficult times. If youāve been affected by floods, we understand that tax is not your number one priority, however we encourage you to lodge when you can. We have a range of support options available...[Read More]
Top 5 advantages of home ownership
29 December
Your decision to purchase a new house is a significant life event, and the thought of becoming a homeowner might be a little intimidating. However, homeownership brings with it several advantages, including the freedom to design your home as you...[Read More]
Manage your director ID
21 December
Once you have your director ID, you can view, update and manage your details online at any time. Using your director ID When you receive your director ID, you need to give it to the record-holder in your company or Aboriginal and Torres Strait...[Read More]
Experts want stage three tax cuts revised
14 December
A former Reserve Bank governor has joined more than 100 economists and tax experts to call for an overhaul of the stage three tax cuts. Former RBA governor Bernie Fraser, Nobel Prize-winning economist Joseph Stiglitz and former Australian...[Read More]
Wills and Estates
8 December
The significance of choosing the appropriate structure to make the protection and maintenance of your assets possible cannot be overstated. This is necessary regardless of whether you have acquired your fortune on your own or through inheritance. In...[Read More]
Tax reforms flagged for housing crisis fix
30 November
The federal government is being urged to put negative gearing and capital gains tax discount reforms back on the agenda to ease Australiaās housing crisis. With his hometown of Hobart featuring the least affordable rents in the country,...[Read More]
If you became a director before 31 Oct 2021, you need to apply for your directors ID now
23 November
When you need to apply is determined by when you were first appointed, and under which Act. If you plan to become a director, you can apply before youāre appointed. Corporations Act directors When you must apply for your director ID depends on...[Read More]
Top questions when applying for a director ID
17 November
Who needs to apply for a director ID? You need a director ID if you are a director of a: company registered with theĀ Australian Securities and Investments CommissionExternal linkĀ (ASIC) or theĀ Office of the Registrar of Indigenous...[Read More]
Government eyes off super tax concessions
10 November
Super tax concessions are in the Albanese governmentās line of sight as it looks for opportunities to boost revenue and repair the budget bottom line. Assistant Treasurer Stephen Jones said tax concessions on super funds are costly to government...[Read More]
Australians owe almost $45b in unpaid tax
3 November
Australians owe almost $45 billion in unpaid taxes ā and the tax office is coming to collect. Collectable debt rose by 69 per cent to $44.8 billion in 2021/22, from $26.5 billion in 2019 before the COVID-19 pandemic hit. Gathering that money will...[Read More]
Budget repair begins, tax reform is next
27 October
The Albanese government has been praised for taking the first step towards budget repair by banking its unexpected commodities windfall, with serious tax reform likely to be addressed in future budgets. With government debt expected to hit the...[Read More]
Electric car tax cuts welcome, more wanted
26 October
Federal budget tax cuts for electric cars and moves to create a national electric vehicle charging network in Australia have been welcomed by motoring and environmental groups overnight. The policies could shave $4700 off the cost of buying an...[Read More]
Seven tax planning strategies for small business
19 October
Tried-and-Tested Tax Planning Strategies for Small Businesses Every dollar counts in business, especially for small enterprises. Therefore, you need to find ways to minimise your tax liability in addition to optimising income or profit. With a small...[Read More]
PM insists āno changeā on income tax cuts
12 October
Senior ministers are sticking to the script on income tax cuts despite a confusing week of debate about the legislated changes. The Albanese government has been accused of moving to break a central election promise after flying kites over the future...[Read More]