Category: Blog

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Blog, SMSF

6 Member SMSFs – the issues and opportunities

From 1 July 2021, the maximum number of members a Self Managed Super Fund can have increased from four to six. Why would you have a fund with six members and what are the implications?

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Blog, Community Support, Small Business, Tax

Business in a post pandemic environment

Countries that have experienced the worst of the pandemic give Australian businesses an insight into what to expect in a post-lockdown environment.

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Blog, Community Support, Small Business

Lockdown top-up support payments are available in Victoria

Top up support payments are available for businesses and individuals if you are impacted by the Victorian lockdowns. The Victorian Government announced the new cash grants available, declared on 15 July 2021.

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Blog, Community Support, Small Business

Lock-downs: What help is available

The highly infectious Delta COVID variant is triggering lock-downs across the country. We look at what help is available and how you can get it.

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Blog, Small Business, Tax

No more dodging tax: New share economy reporting rule set to begin

The individuals who participate in the share economy such as Uber, Deliveroo & Airbnb will no longer be able to escape their tax obligations as the government determines the implementation of a legislation for a new compulsory reporting regime.

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Blog, Small Business, Tax

The ATO have extended the STP finalisation due date

Businesses have been given extra time to submit their Single Touch Payroll finalisation declaration this year as the ATO acknowledges the continuing impacts of COVID-19.

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Blog, Small Business, Tax

Employers exempt from FBT for retraining employees

Employers who deliver training to employees who are to be made redundant will now be exempt from fringe benefits tax after the legislation passed through Parliament.

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Cryptocurrency

The ATO tightens the reigns on Crypto transactions as the data-matching program is locked in

As the ATO data matching program ramps up, Australians who have invested in cryptocurrency will no longer be able to conceal their transactions from the ATO to avoid paying tax.

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Blog, Tax

Am I taxed on an insurance payout?

Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and is not income assessed for tax purposes – but this is not always the case.

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Blog, Tax

Work from home expenses under scrutiny & the perils of browsing Facebook

If you worked from home during lockdown and spent money on work related items that were not reimbursed by your employer, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed.

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Cryptocurrency, Tax

ATO sheds light on crypto compliance focus

The Australian Tax Office has issued guidance on accurately accounting cryptocurrency transactions during tax time. It noted that it will be looking to make sure that all crypto capital gains are reported correctly.

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Strategic Financial Advice

A family affair: Children, super contributions and SMSFs

The potential increase in members from four to six a in self-managed fund has led to many to consider about whether it is worthwhile to have children as members of the parents’ or ‘family’ SMSF. The options are: should the kids join the fund, have their own, or go elsewhere to an industry or retail fund.

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