Blog tagged as Tax Specialists

Announced in the 2024 Federal Budget as an integrity measure, are changes to the foreign resident CGT regime that will ensure foreign residents pay their fair share of tax.

The ATO has released new guidance around the application of Div 7A for guarantees and securities provided by interposed entities for third party loans.

Personal services businesses must remain aware of other tax obligations, such as steering clear of tax avoidance schemes. Find out what this means for you.

Eligible lump sum payments in arrears will get an exemption from Medicare levy from 1 July 2024.

It’s a good idea to think about your succession plan long before you need to sell. With a plan in place, you can maximise the value of the business and achieve a better outcome.

If you’re thinking about setting up a self-managed superannuation fund, here are five key areas to be aware of when managing your fund.

When you’re in control of your profit and loss (P&L), you have a tighter hold on the reins of your profitability. Read our Plain English guide to P&L and learn how to boost your profits.

Tax may be boring, but smart use of tax planning is a superb way to help your company do more with your money.

Tax may be boring, but smart use of tax planning is a superb way to help your company do more with your money.

Given the high risk of payroll tax audits across the medical and allied health industry, organisations must understand and adapt to the changing payroll tax landscape.

Positive cashflow is the beating heart of your business. Dive into our Plain English guide to cashflow and find out how to get in complete control of your cash position.

The ATO has released a tax ruling intended to provide guidance as to how the Commissioner will apply the residency tests (s 6(1) ITAA 1936) for individuals under a modernised approach.

Operators of sharing economy platforms now required to report transactions to the ATO from 1 July 2023. If you operate in these platforms, such as ride share or short-term accommodation, make sure this information comes to us for your tax return.

Rental property information is being collected by the ATO in an effort to track down unreported income in tax returns. Ensure your items are fully substantiated.

Tax deduction for ATO interest charged in relation to overdue tax debts and shortfall tax will no longer be deductible from 1 July 2025.

Australian Labor party (ALP) will form the government for a second consecutive term after winning the Federal election with majority seats. We have summarised for you, all tax measures proposed by the ALP throughout their federal election campaign.

In an initiative to promote women’s economic equality, the Labor government has announced plans to pay superannuation on paid parental leave (PPL) for government-funded payments from 1 July 2025.

Why is good bookkeeping so vital for your financial management? We’ve got some top hacks for maximising your bookkeeping, and the options for outsourcing this job to the professionals.

Are you hiring the best talent for your business culture? We’ve summarised 5 ways to make sure your next hire is a perfect fit for the business.

Tax time 2024 is fast approaching and with many individuals still working from home partially or completely, this quick guide can assist you with completing the calculations for claiming the deduction.