Tax
Tried-and-Tested Tax Planning Strategies for Small Businesses
7 December
Every dollar counts in business, especially for small enterprises. Therefore, you need to find ways to minimise your tax liability in addition to optimising income or profit. With a small business tax planning strategy, you can increase profits...[Read More]
Taxpayers to stop funding global fossil fuel projects
6 December
Australian taxpayer dollars will no longer fund international fossil fuel projects, after the government signed on to a global shift towards renewable energy. The government signed on to the Glasgow Statement at the United Nations climate change...[Read More]
Labor deal with Greens to pass vacant homes tax reforms
29 November
A deal to strengthen taxes on empty homes has been struck between the Victorian government and the Greens. An upper house vote on changes to Victoria’s vacant residential land tax was put on ice earlier this month when the Greens and the coalition...[Read More]
Creating a better business with cloud accounting
23 November
Does your company still use desktop software or spreadsheets for accounting tasks? If so, then it could be time to upgrade to a cloud-based accounting system. In comparison to on-premises solutions, cloud accounting for small businesses offers...[Read More]
Are you providing entertainment this holiday season?
15 November
With the holiday season on the way you may be planning to celebrate with your staff. Before you hire a restaurant or book an event, make sure you work out if the benefits you provide your employees are considered entertainment related, and therefore...[Read More]
Big Four consultants face ban from tax regulator board
8 November
Partners from the Big Four consulting firms could be banned from serving on the board of the tax advisory regulator, in the first legislative move against the companies since the PwC tax scandal. After securing government agreement, the Greens will...[Read More]
Managing Finances and Lifestyle Activities Across the Four Phases of Retirement
2 November
Retirement is a complex period divided into various phases, each with its own set of financial requirements and lifestyle considerations. Understanding how to budget for each stage can help you make the most of your post-career...[Read More]
Consultations are underway for changes to superannuation
25 October
From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages. Currently, employers are only required to pay their employees’ super quarterly. These changes to payday super were...[Read More]
Cyber security: don’t set and forget
18 October
Cybersecurity should not be a set and forget function for businesses and we recommend you check your security monthly. Throughout 2021–22, one cybercrime was reported every 7 minutes to the Australian Cyber Security Centre (ACSC). To avoid being...[Read More]
Airbnb pushes for hotels to be hit with short-stay tax
11 October
Airbnb has called for a contentious Victorian tax on short stays to be expanded to all accommodation bookings, including city hotels. The state government last month announced an Australian-first, statewide levy on short-stay providers like Airbnb...[Read More]
Labor unveils super tax tweaks on big balances
4 October
The number of Australians with super balances in the hundreds of millions has been expanding quickly as the federal government prepares to tighten tax breaks for wealthy retirees. The Labor government committed to halving tax breaks for those with...[Read More]
Tax on empty homes and vacant land to free up housing
4 October
Victoria will broaden a little-known tax to encourage more property owners to rent out empty homes and develop vacant land. Treasurer Tim Pallas on Tuesday announced legislation would be introduced to expand the vacant residential land tax...[Read More]
Farm Succession Planning: Balancing Financial and Emotional Aspects for Generational Transition
28 September
The Challenge Facing Farm Owners The complexity of farm succession planning extends beyond mere financial transactions. For farm owners, navigating the transition of a generational asset such as a farm is both an economic and emotional endeavour....[Read More]
Small business boost measures and the energy incentive
27 September
The Australian Government has announced the following 3 measures to assist small businesses that have an aggregated annual turnover of less than $50 million: Small business technology investment boost Small business skills and training boost Small...[Read More]
Tax records for rental properties and holiday homes
20 September
Find out about what records to keep and for how long for rental properties and holiday homes. How long to keep rental records You need to keep records for 5 years. Depending on your situation, that is 5 years from the date: you lodge your tax...[Read More]