What you need to know With hundreds of thousands of directors yet to apply for their director identification number (director ID) ahead of the looming November deadline, a last-ditch public information campaign has been launched. The Albanese Government has just…
The ATO Commissioner has just issued a warning to businesses on the importance of securing your au domain name! To recap, .au direct domain names were launched earlier this year by the organisation that manages Australian domain names, the Australian…
According to the ATO, one of the most common questions it gets asked by taxpayers is whether they are conducting a business or on the other hand a hobby. This matters because it may impact your taxation, insurance and legal…
The 2022/23 Budget was handed down last night by the government. While there was some targeted, boutique assistance for small business, the Budget was very much focused on addressing cost of living pressures faced by individuals and families. In a…
Whether your superannuation impacts your Age Pension depends on a number of factors, such as your age and your level of assets and income. Age pension age In order to qualify for Age Pension payments, you must have reached age…
Do you have your own business or are thinking of starting one? If so, you may need to pay yourself superannuation depending on your business structure. Types of business structures available If you were working for a company, your employer…
With many parts of Australia in the grip of a rental crisis, a significant number of tenants may be residing in the properties of friends and relatives. A recent case that came before the Administrative Appeals Tribunal (AAT), Rizkallah and…
It’s quite common for individuals to subdivide land they own, and then sell off one of the blocks. Depending on the circumstances, this can have capital gains tax (CGT) and GST implications. Capital gains tax If you subdivide a block…
Click here for a pdf version of this article. Business and Individual Taxation The confirmation of lucrative income tax cuts, and the scrapping of a tax offset for low and middle-income earners were the big-ticket items. That said, labor’s first…
ATO tax time focus for small business The ATO has released a tax time tool kit to assist businesses and us as your tax advisor to nail your 2021/22 business tax return. The ATO has also flagged what it will…