The Redesigned Stage 3 Personal Income Tax Cuts

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. After much speculation, the Government has announced that they will amend the legislated Stage 3 tax cuts scheduled to commence on 1 July 2024. This will mean that more Australian […]

EOFY Checklist for Businesses

The end of Financial Year 2022-2023 is rapidly approaching. As a business owner it is time to review your tax affairs, if not yet done, to ensure you are complying with next years regulations and to maximise any planning strategies going forward. The checklist below summarises some key points that may be relevant going into […]

What’s the Deal with Working from Home?

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to use a new ‘fixed rate’ method (67 […]

Section 100A (s100A) – A Closer Look at Trust Distributions by the ATO

In late February of 2022 the ATO released a draft ruling under Section 100A (s100A) in Division 6 of the Income Tax Assessment Act 1936 regarding the treatment of ‘reimbursement agreements’ resulting from trust distributions. Broadly speaking a ‘reimbursement agreement’ is when a beneficiary of a trust (usually a child) is entitled to a distribution […]

Cryptocurrency – What do I need to report on my tax return?

cryptocurrency

Cryptocurrency has seen yet another large uptake amongst users throughout the 2021 financial year. A recent article from the Australian Financial Review suggests that now one in five Australians (14%) have owned some form of the digital currency. However, there is still a lot of confusion about when and what to include in your tax […]

Cryptocurrency & Tax <br>Your 4 Top Questions Answered

Cryptocurrency is still a relatively new space for investors, traders and tax professionals alike. But what are the personal tax implications of crypto? And what do you actually need to do when it comes to tax time? Let’s take a look at the 4 top questions our clients ask us: 1. At what point do […]

4 PayPal Alternatives to Send and Receive Money Online

PayPal is the world leading online payment service. You can transfer money online to and from your bank account, pay for goods, and even receive payments worldwide. It’s a useful tool for entrepreneurs, freelancers, and even for personal use. However, it does have its drawbacks. PayPal takes a significant chunk of money when it comes to […]