Private Businesses

The Major Parties’ Superannuation and Tax Policies 18th April 2019

The federal election has been called for May 18 and both major parties have outlined their superannuation and tax policies. With the federal election only weeks away many of our clients have been asking what the major political parties’ policies are that may impact their SMSF, individual taxation circumstances or personal investments. ...

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Did you throw a party for your employees to celebrate the festive season? 29th March 2019

If so, you need to consider whether you have any FBT obligations associated with the party. If you also gave your employees a gift, there may be an FBT implication too. It also makes a difference whether the party was held on your business premises or somewhere else. ...

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The digital economy and Australia’s corporate tax system  26th March 2019

The Government is working with other countries, through the G20 and the OECD, to develop sustainable, multilateral responses to address the challenges to our tax system arising from digitalisation. A discussion paper was issued by Treasury for comment by 30 November 2018 to explore options to move towards a fairer and more sustainable tax system for the digitalised economy....

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Instant asset write-off for small businesses extended and increased 11th March 2019

Small businesses will get an extra tax break following the recent announcement by the Government that the instant asset write-off scheme will be extended to 30 June 2020 for assets purchased under $25,000 in value....

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Attention all car owners! You must declare what you share 4th October 2018

Do you earn income through car sharing platforms? If you do, it is important to include the income – no matter how little – in your tax return. It’s no different to anyone else renting out an asset, like a house or a car park. You must declare the income and you cannot avoid tax by calling it a hobby....

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What concessions can small businesses tap into this tax time? 10th September 2018

There are a range of tax concessions that your small business might be eligible for. Here are a few you should consider for your 2018 tax return....

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4 Federal Budget tax measures that impact your business 28th June 2018

Small and medium-sized businesses received a bit of attention from the Government in this year’s 2018-19 Budget....

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Small business $20,000 instant asset write-off extended 25th May 2018

The $20,000 instant asset write-off is being extended for another 12 months for businesses with an aggregated turnover of less than $10 million so that it will now expire on 30 June 2019....

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Australian Federal Budget Review 2018 8th May 2018

In the run-up to the Federal Budget, two things were expected, a budget that responsibly delivered tax cuts and also a budget that delivered ‘meaningful’ tax reform....

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ATO cracking down on your work-related expenses! 4th May 2018

This year, the ATO is cracking down on taxpayers claiming incorrect ‘other’ work-related expenses. It’s important to make sure you don’t claim more than you are entitled to!...

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