Blog
Additional Tax Deductions for Small Businesses through Technology Investment Boost
The Technology Investment Boost is now a law. Small business entities such as individual sole traders, partnerships, companies, or trading trusts with an annual aggregated turnover of less than $50 million are eligible for additional tax deductions for their digital operations. Here’s how to benefit from the boost and maximise your tax deductions.
What is on the ATO Focus for SMSF in 2023
It is not surprising that the ATO is focusing on SMSFs given their increased popularity and significant asset holdings. Here’s a summary of some key issues currently attracting the ATO’s attention that SMSF trustees (and their advisers) need to be aware of for the 2023 income year.
Temporary Full Expensing and Loss Carry Back Tax Offset Claims to be Reviewed by ATO in 2023
ATO Set to review Temporary Full Expensing and Loss Carry Back tax offset claims for 2023. Learn the most critical issues and our tax advice on claims for assets. It is significant to remember that temporary full expensing will not apply if an eligible depreciating asset is first utilised, or placed ready for use, on or after 1 July 2023. As a result, the asset's cost cannot be immediately deducted for the 2023 tax year.
Prepare For Stocktake – Conducting A Stocktake
You might need to do a stocktake for tax purposes if your business acquires or sells stock. Learn how to do a stocktake and how it might benefit your company. Your business must do a stocktake by June 30, 2023, as the fiscal year comes to a close, in order to fulfil its tax obligations.
Ways to Combat a Sedentary Lifestyle
It might be challenging to maintain regular movement as the days become shorter and the temperature drops. There can be serious consequences to being inactive. The lack of physical activity can be a factor in obesity and related diseases. So, here’s how to avoid being trapped in a sedentary lifestyle and how to keep you and your family healthy.
How Interest Rates Impact Your Investments
Many sorts of investments can be considerably impacted by changes in interest rates. Higher interest rates tend to have a negative impact on share markets. Here’s what you need to know about rising interest rates and your investments.
Building an Emergency Fund for Your Peace of Mind
A strong financial plan must include the creation of an emergency fund because it acts as a safety net in case of unforeseen circumstances. We can advise you on the best solutions for your particular financial circumstances and assist you in taking action to lay a solid financial foundation.
How To Prepare Super For EOFY
Recent headlines have been dominated by superannuation. As we near the conclusion of the fiscal year, it is worthwhile to turn our attention to super balances. There are several ways to increase your superannuation, but if you want to maximise your contributions, it's crucial that you don't wait until the last minute. Here’s how to get your super ready for EOFY!
Taxation Changes for Business Owners – What’s New This 2023?
The 2023 Federal Budget was announced on Tuesday 9 May 2023, with a focus on cost-of-living relief and modernizing the economy. What does this mean for you? Here is a brief summary of the business tax updates and the two important things that could have an impact on business owners.
ATO Announces Enforcement of CGT, Rental Properties and Work Claims
Recent media reports have confirmed that the ATO's priority targets now include CGT, rental property deductions and work-related expenses. The ATO has declared that it will concentrate on capital gains tax, work-related costs, and rental property deductions in FY2024 in an effort to crack down on questionable payments as the end of the FY2023 financial year draws near.
Federal Budget 2023 – Winners and Losers Revealed!
The government promised a budget that would build “stronger foundations for a better future”. Look at the breakdown of the 2023 federal budget winners and losers. And if you’d like to know how this can impact, contact us today!
AustralianSuper to Refund $70M to Customers after Double-Charging Members
Australia's biggest superannuation fund has revealed that it has been double charging some customers, and will refund around $70 million in fees and insurance costs to about 100,000 people. Here's how to determine whether you're entitled to a refund.