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With the real estate market hotting up for another year, many home buyers will turn their thoughts to newly constructed residential premises or subdivisions, but a recent Bill introduced may increase the costs and complexity of such purchases …
Read MorePre-lodgement compliance reviews (PCRs) are increasingly being used by the ATO to resolve potential compliance concerns as they arise. Previously, PCRs have only been applied to significant taxpayers such as public companies, international groups and large Australian businesses. However, PCRs may now be extended to all other business taxpayers where compliance obligations have not been met in a consistently timely manner in the past …
Read MoreIt’s May which means it’s Budget time. In the last full Budget before the next Federal election, the Treasurer delivered an election Budget with enough sweeteners for everyone including businesses, income tax relief for individuals, measures to boost superannuation, and help for older Australians.
The 2018-19 Budget was handed down on 8 May by Treasurer Scott Morrison. In the last full Budget before the next Federal election, ScoMo delivered what was widely perceived to be an election Budget with lots of sweeteners for everyone. So what’s in it for you?
Read MoreFBT season is in full swing with only a month to go until the due date for the lodgement of the return on 21 May 2018. If you haven’t started getting the required information together, now is the time. Remember if you give benefits to any current, prospective or former employees or associates in connection with their current, prospective or past employment, then you may be liable to FBT …
Read MoreDo you rent out a part of your home, or a holiday home, on Airbnb, Stayz or another sharing site? Perhaps you see this as a way of making a little extra income to help the household budget or to save for that holiday. But what you may not be aware of are the long term tax implications of such a move, which may lead to a case of short-term gain causing long-term pain.
Read MoreAre you ready for e-Audits? The ATO is finally moving with the times and have started conducting e-Audits using computer assisted verification techniques. This process is said to be more efficient, accurate and thorough than traditional audits with the advantage of also minimising the time ATO spends on your business premises.
Read MoreEven with talk of bubbles bursting and budget-time reforms, property remains a popular choice for investors. And an investment property can bring more savings at tax time through property depreciation deductions than many people – particularly new investors – realise.
Read MoreWith the upcoming tax season upon us, scammers are prevalent again. We are sharing tips to protect yourself (and your friends and family) from scammers. Taxpayers need to be ever-vigilant about bogus calls, text messages and emails from scammers. Some scammers go to great lengths to deceive taxpayers, including impersonating government representatives on the phone, sending fraudulent emails and even creating fake websites.
Read MoreDoes your employer offer salary packaging? Do you know people who are using the facility and seem to be in a better financial position because of it?
Everyone’s personal situation is different and we can help establish if salary packaging is the right option for you. To give you some insight into the benefits and considerations;
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