Federal Budget 2023/2024
Click here for a pdf download of the Federal Budget 2023
Macy
How to claim an early tax deduction on SG contributions
Are you an employer who needs to make superannuation guarantee (SG) contributions for your employees? If so, it may be worthwhile bringing forward these SG contributions to before 1 July to benefit from a tax deduction this financial year. However…
Employee or contractor? – the Federal Court weighs in
A recent Federal Court case has highlighted important superannuation guarantee (SG) implications for businesses that engage certain types of contractors. Background facts The case of Jamsek v ZG Operations Australia Pty Ltd (No 3) [2023] FCAFC 48 (24 March 2023)…
Temporary Full Expensing (TFE)…get in quick!
This could be the final opportunity for your business to take advantage of Temporary Full Expensing (TFE)…but get in before 1 July! To recap, TFE encourages and supports businesses by allowing an immediate deduction for the business portion of the…
Financing motor vehicles
One of the most common decisions facing business is how to finance and account for the acquisition of a motor vehicle. There are numerous ways of doing so, with each resulting in differing accounting, taxation and GST treatment. Options How…
Upcoming trust distribution strategies…the latest developments
If you run your business through a family trust, there’s some good news on the distribution front. In mid-April, the ATO responded to the landmark trust distribution case, namely the Guardian AIT appeal ruling in January by the Full Federal…
Newsletter – May 2023
Click here for a pdf version of this article. Temporary Full Expensing (TFE)…get in quick! This could be the final opportunity for your business to take advantage of Temporary Full Expensing (TFE)…but get in before 1 July! To recap, TFE…
Top cyber security tips for business
It is important you keep all your business, staff and client information secure. If your data is lost or compromised, it can be very difficult, time consuming, and costly to recover. The federal government have created a list of top security…
Federal Budget – what to watch out for
It’s now only a week or so until the Federal Budget which is to be handed down on 9 May. Some of the things to look out this year potentially include: Abolition of Temporary Full Expensing Under current legislative settings,…
2022 Federal Budget
Business and Individual Taxation The confirmation of lucrative income tax cuts, the scrapping of a tax offset for low and middle-income earners were the big-ticket items. That said, labor’s first federal Budget in nine years was as noteworthy for the…