When is a gift not a gift? The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. Download the full article...
The essential 30 June guide The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. Download the full article...
Budget 2024-25 Key measures: • Previously announced Stage 3 tax cuts • $300 energy bill relief for all Australian households and $325 for eligible small businesses - applied as an automatic quarterly credit. • Student HELP debts will be cut by changing the way...
Company money crackdown The ATO is cracking down on business owners who take money or use company resources for themselves. Download the full article...
Together, we have raised over $31,000! Thanks to your unwavering support, our recent efforts in the 2024 Run for the Kids have resulted in raising over $31,000, bringing our total contribution since 2009 to nearly $250,000! Your involvement has made an incredible...
The Fringe Benefit Tax traps The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Download the full article...
THE CONTROVERSIAL CASE OF THE TAXPAYER WHO CLAIMED A LOSS ON THEIR HOME A decision by the Administrative Appeals Tribunal hasthe tax world in a flurry after the Tribunal found infavour of a taxpayer who sold the apartment she livedin for a loss, then claimed the...
WORKERS OWED $3.6BN IN SUPER Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian TaxationOffice estimates – a figure the Government and the regulators are looking to dramatically change. Download the full article...
