Elevated Capital Gains Tax Risk When Selling Your Home if it has been used for Business Purposes and potential use of the Small Business Concessions

An area seeing increasing attention from the Australian Taxation Office (ATO) is the potential for Capital Gains Tax (CGT) to apply when selling your home – particularly when that property has been used for the running of a business. It’s not all bad though, as you may also be able to utilise the Small Business Concessions and turn this situation to your advantage.

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Jenni Anderson
Casual Employee or Contractor? You Might Owe Super Without Realising

One of the most common misconceptions in business is the difference between a casual employee and a contractor — and getting it wrong can mean unexpected superannuation and leave obligations. Many businesses assume that if someone has an ABN, sends invoices, or works independently, they must be a contractor. However, under Australian tax, superannuation and employment law, this isn’t always the case. If someone is classified as a contractor, they could still be entitled to Superannuation Guarantee (SG) contributions and leave entitlements. Misclassification can lead to costly back payments and penalties, so it’s crucial to get it right.

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Jenni Anderson