Category: Tax

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Tax

ATO targets incorrect claims for ‘lifestyle’ assets

The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts.

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Property, Tax

CGT and the family home: expats and foreigners excluded from tax exemption

Late in 2019, legislative changes were made that exclude non-residents from accessing the main residence exemption.

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Coronavirus Virus Outbreak
Tax

COVID-19 Second $66.1bn Stimulus Package: What you need to know

On Sunday 22 March, 2020 the Government released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.

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Tax

What types of insurance should a business have?

Insurance often seems like an enormous waste of money… until you need the cover.

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Tax

Should you have Tax Audit Insurance?

Many small business owners need to question whether or not to purchase tax audit insurance.

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Tax

Warning About Distributions To Non-Resident Beneficiaries

The ATO’s recently released interpretation will have a significant negative impact for some.

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Tax

All online accommodation providers now required to charge GST

Previously, offshore sellers of Australian commercial accommodation had been exempt from the rule.

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Tax

Can the tax office take money out of your account? It’s your right to know.

If the ATO has queries or suspects something is not right, you need to be able to respond.

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Tax

New Year, new accountant?

Whilst you are sipping a cocktail on the beach or spending time with family over the holiday period, you might find that the downtime helps to clear the mind.

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Small Business, Tax

What Tax Deductions Can Be Claimed For A Business?

Saving as much tax as possible is one way to give your business a greater chance of success.

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Small Business, Tax

The tax deductibility of Christmas gifts and parties to staff

Christmas parties are considered to be “entertainment benefits”. Therefore, the expenses may be subject to fringe benefits tax (FBT).

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Small Business, Tax

Melbourne small businesses receiving in-person visits from ATO

Supposedly, up to 800 businesses will be targeted by the ATO and Fair Work Ombudsman.

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