SMSF – 30 JUNE 2023 UPDATE
Superannuation continues to be a focus for the Government & the regulators. We want to help you achieve the best result for you & your SMSF. Let us know if…
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SMSF – 30 JUNE 2023 UPDATE
2023 Federal Budget Highlights
The Federal Treasurer Jim Chalmers handed down the 2023 Federal Budget on 9 May 2023. The following is a list of highlights from a tax and superannuation perspective. Businesses The…
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2023 Federal Budget Highlights
Question of the month: Company loan to pay down the mortgage
A friend’s accountant suggested that they could reduce interest on non-deductible debt by using company cash to offset their personal mortgage, then transferring the cash back by 30 June. Is…
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Question of the month: Company loan to pay down the mortgage
ATO Rental Property Attack
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…
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ATO Rental Property Attack
‘OnlyFans’ Tax Risk Warning
The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice…
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‘OnlyFans’ Tax Risk Warning
$20k Small Business Energy Incentive
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000. The Small Business Energy Incentive…
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$20k Small Business Energy Incentive
Working from Home – Changed Record Keeping Requirements to Claim Deductions
WHAT ARE THE KEY CHANGES? From 1 July 2022, the ATO has explained that taxpayers who are working from home can claim deductions based on their actual expenses, or they…
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Working from Home – Changed Record Keeping Requirements to Claim Deductions
30 November director ID deadline
The deadline for existing directors of Australian companies to obtain a Director Identification Number is 30 November 2022. All directors of a company, registered Australian body, registered foreign company or…
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30 November director ID deadline
New ATO Ruling Affects “Professionals” and Profit Allocations
A new ATO guidance (PCG 2021/4) totally changes the way that professional firm profits can be allocated (or split) among a family group from 1 July 2022 onwards. As a result,…
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New ATO Ruling Affects “Professionals” and Profit Allocations
How high will interest rates go?
Low interest rates have been a mainstay since the global financial crisis of 2008. When the pandemic hit, Governments pushed stimulus measures through the economy and central banks reduced interest…
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How high will interest rates go?
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