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Tax
Keep up with the latest tax updates affecting individuals, small businesses, and investors. From deductions and planning tips to ATO audits and rule changes, our expert team breaks down complex tax issues with practical, timely advice, so you stay compliant and never miss an opportunity to reduce your tax legally.
Farewell to the Low & Middle Income Tax Offset (LMITO)
Say goodbye to the Low & Middle Income Tax Offset (LMITO) in Australia. This tax relief measure has been phased out, potentially impacting the tax refunds of many Australians.
Tax Offset: A Game-Changer for Australian Game Developers
The game-changing Digital Games Tax Offset (DGTO) initiative, driving growth and innovation in the Australian gaming industry. Unlock financial incentives and opportunities for developers.
Changes to Working from Home Deductions
Changes to the ATO's the methods for claiming work from home expenses in Australia. Choose between the revised fixed rate per hour or actual cost method.
Changes to Motor Vehicle Tax Deductions for Small Business Owners
2022-23 income year has brought about significant changes to motor vehicle deductions, the rate has increased from 72 to 78 cents per kilometre.
Strengthened Data Matching: Australian Taxation Office Expands Data Matching
ATO has data-matching capabilities and is collaborating with property managers, financial institutions, insurance providers, & sharing economy platforms,
ATO Announces Key Focus Areas for Tax Time 2023: Rental Property Deductions, Work-Related Expenses, and Capital Gains Tax
The Australian Taxation Office (ATO) has three key focus areas for Tax Time 2023: rental property deductions, work-related expenses, & capital gains tax.
EOFY Countdown: Essential Tips for Managing Your Finances and Claiming Deductions
Tax strategies and actions you can take can help you effectively manage the EOFY and optimize your financial situation.
ATO's Warning on undeclared income
From July 1, 2023, the ATO receives data from ride-share and accommodation platforms. Using analytics software, discrepancies will be identified. Failing to report earnings accurately may now attract the ATO's attention.
The Sunsetting of the Loss Carry Back Tax Offset
Loss Carry Back Tax Offset provides immediate relief by offering a way for businesses to recover some of the tax paid in prior profitable years, reducing their current tax liability and improving cash flow.
Australia's Low and Middle Income Tax Offset (LMITO) set to expire in 2023
Taxpayers will no longer receive the Low and Middle Income Tax Offset (LMITO) on their tax returns, resulting in a potential increase in their tax liabilities.
Highlights of the 2023/24 Federal Budget: Key Takeaways
Explore the key highlights of the 2023/24 Federal Budget, its impact on individuals, businesses, various sectors, and the vision it sets forth for Australia's future.
Avoiding Capital Gains Tax on Inherited Property
Managing a deceased estate including the potential for capital gains tax (CGT) on any property left behind.
LCT- Luxury Car Tax
Luxury car tax is applied to cars that cost more than a set threshold and was originally designed to discourage people buying luxury imported vehicles.
Take Advantage of ATO's Temporary Full Expensing & Save on Your Business Taxes Before it Expires
Small Business tax deductions of depreciating assets - the Australian Taxation Office's (ATO) temporary full expensing scheme - expires on 30 June 2023.
Demystifying PAYG Instalments What You Need to Know and How to Stay on Top of Your Tax Obligations
The purpose of PAYG instalments is to help taxpayers manage their tax liabilities and avoid a large lump sum payment at the end of the financial year.
Paid Parental Leave
Take a closer look at paid parental leave and how it works, eligibility, duration and how to apply.
Work From Home and Change in Tax Deductions
The pandemic has changed the way we work with most business continuing a hybrid work from home & office. The ATO have increased tax deductions for WFH.
Are there are any tax implications once we tie the knot?
Are there are any tax implications once we tie the knot?
During COVID-19, non-residents could be residents for tax purposes
During the COVID-19 Lockdown, non-residents could be deemed as residents for tax purposes
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