Blog
Next 5,000 Review Program: An Update on ATO Private Groups Tax Program – and How we PROTECT YOU!
The Tax Avoidance Taskforce funds the Next 5,000 review program, which employs data matching and analytic algorithms to identify Australian residents who, with their associates, possess wealth in excess of $50 million. The program focuses on prevention rather than correction, with the goal of increasing continuing and willing involvement in the tax and super system through one-on-one engagements.
Bah humbug: The Christmas Tax Dilemma for Businesses
Don't let taxes ruin your holiday spirit! This blog decodes the tax complexities of Christmas spending, ranging from FBT on parties to gift deductions. Here are our best suggestions to avoid giving the Australian Taxation Office a bonus this holiday season.
The Key Financial Challenges and Influences You Should Care About in 2024
Uncertainty has prevailed in recent years, but may we expect more consistency as we approach 2024? We look at some of the important challenges and factors in the economy, taxation, and employment.
The Controversial Home Loss Claim: A case of the taxpayer who claimed a loss on their property.
The Administrative Appeals Tribunal's judgement has sent the tax world into a frenzy after the Tribunal ruled in favour of a taxpayer who sold the apartment she lived in for a loss and then claimed the $265,935 loss as a deduction on her tax return.
Annual Leave: Here’s Why You Should Take It – and How to Make the Best Use of It.
Annual leave is an essential part of maintaining a healthy work-life balance. Taking time off from work not only allows you to recharge and rejuvenate but also offers several other benefits. By taking time off and making the best use of it, you can enhance your productivity, enjoy quality time with loved ones. Here are some reasons why you should take your annual leave and how to make the most of it.
Life Insurance Provides a Financial Safety Net
Life insurance provides a financial safety net by paying out a death benefit to your beneficiaries in the event of your unexpected death. It is an essential component of a person's financial planning, especially given its long-term and significant advantages. At times when individuals are focusing on many areas for investment, it is important to keep in mind that the best investment is in one's health and well-being, and everything else revolves around it. This is the reason why it is critical to have life insurance in one's investment plan.
What an Australian Retirement on $3 Million Looks Like
It's important to note that everyone's retirement goals and lifestyle preferences are different. Here’s a general overview of what a retirement on $3 million in Australia might look like, but personal choices and circumstances can vary significantly. It's advisable to consult with a financial advisor to tailor a retirement plan that suits your specific needs and goals.
The Increasing Costs of Raising Children
Managing the costs of growing kids requires careful planning and prioritization. By following these tips and adapting them to your specific situation, you can effectively manage the financial responsibilities that come with raising children. Get in touch with us to create a plan to secure your family’s future.
4 Ways to Spring Cleaning Your Finances
The start of springtime can inspire all of us to "clean up" different facets of our lives, including finances. Spending time on your financial health helps prevent overspending, create a successful household budget, and eventually help you achieve your savings targets. Here are some actionable ways you can help get your finances organized during spring season.
Reduce Your Energy Costs by Going Green
Want to cut the cost of your energy by 20%? Learn how putting simple cost-cutting measures into place can help your business save money and lessen its environmental impact. These five suggestions from Success Accounting Group will help you cut your energy costs and lower your greenhouse gas emissions. Find out more.
Victorian Guaranteed Sick Pay Leave Until 2025
Up until 2025, the Victorian Government will guarantee sick leave. The Victorian Sick Pay Guarantee provides eligible casual and contract workers, including sole traders, with a guarantee they will receive sick pay when they can’t go to work. Sign up today to qualify. Email your accountant to help with application and registration.
Property Analyst Claims that Stage Three Tax Cuts Will Result to House Prices Increase
Property analyst Niro Thambipillay gives a dire warning, claiming that stage three tax reduction will result in hikes in home prices and will take place in 2024. He thinks that the third stage of planned tax cuts, which coincide with anticipated interest rate decreases, will be what sparks the rise.