June 1, 2023
ATO Rental Property Blitz
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is…
May 10, 2023
Tax on super balances above $3m
In a very quick turnaround from announcement to draft legislation, Treasury has released the exposure draft legislation for consultation to enact the Government’s intention to impose a 30% tax on…
May 10, 2023
What sharing platforms are sharing with the ATO
From 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term accommodation to report their transactions to the ATO each year.…
May 10, 2023
‘Ace in the Hole’ Budget 2023-24
The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and…
April 26, 2023
How Does Tax Apply to Electric Cars?
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. The FBT Exemption…
March 22, 2023
Downsizer Contributions
What are Downsizer Superannuation Contributions? Downsizer Superannuation Contributions are a way for Australians aged 60 years or older to make a contribution to their superannuation fund after selling their family…
March 22, 2023
Small Business Technology Investment Boost and Small Business Skills and Training Boost
Small Business Technology Investment Boost The boost will allow small businesses to deduct an additional 20% of the cost of expenses and depreciating assets that support ‘digital adoption’. Therefore, a…
January 30, 2023
Debt Reduction Tip
In October 2022, Australia's average owner-occupier home loan was just shy of $595,000. A loan that size comes with a hefty monthly repayment and interest bill to go. Assuming your…
