Tax
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 $50Â 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]
Tax break to help small businesses save on energy
13 September
Millions of small and medium-sized businesses are set to benefit from a federal government tax incentive to cut their energy bills. Laws to enact the tax incentive will go to parliament on Wednesday. The tax deduction will provide businesses with...[Read More]
Tax implications with investing in bank accounts and income bonds
6 September
Check the income you need to declare and tax implications if you invest in bank accounts and income bonds. Â Bank accounts Interest from a bank or other financial institution is part of your assessable income for the year. Even if the funds...[Read More]
The importance of personalised advice in navigating ambiguous information
31 August
In an era saturated with information, the need for personalised advice tailored to an individualâs unique financial situation is paramount. Whether itâs in the business world, investment markets, or personal finance, we are bombarded with advice...[Read More]
5 advantages of home ownership
24 August
Your decision to purchase a new house is a significant life event, and the thought of becoming a homeowner might be a little intimidating. However, homeownership brings with it several advantages, including the freedom to design your home as you...[Read More]
Up to 250,000 workers could get electric car discount
9 August
As many as 250,000 Australian workers could unlock significant electric vehicle discounts after a change to small business software that will automate car leases. The change, from accounting platform MYOB, could help more than 100,000 businesses...[Read More]
Union wants super profits tax to pay for social housing
26 July
One of Australiaâs most powerful unions wants a tax to be slapped on big businesses to pay for social and affordable housing. The CFMEU has called for a super profits tax to bankroll construction and solve the countryâs housing crisis. National...[Read More]
Steps to Building an Emergency Fund and Why You Need One
15 June
Life is unpredictable, and financial surprises can arise when you least expect them. This is where an emergency fund comes in. This financial safety net is designed to cover unexpected expenses, like car repairs or medical bills, or provide support...[Read More]
Tax office targets working from home deductions
15 June
The fixed rate method for calculating your deduction for working from home expenses has been revised. The revised fixed rate method is $0.67 per work hour and available from 1 July 2022. The fixed rate method has been revised to: increase the...[Read More]
End of financial year tax tips
1 June
July 1st is fast approaching, and we all know what that means. Yes, itâs tax time. Unfortunately, filing taxes can be a laborious, frustrating, time-consuming, and somewhat overwhelming process for some of us. However, for others, filing their...[Read More]
Higher taxes to hit multimillion-dollar super balances
1 March
Superannuation balances above $3 million will be taxed at a higher rate as the Albanese government hunts for opportunities to improve the budget bottom line. The changes wonât come in for another two years and will apply to about 80,000 people in...[Read More]
Why is it important to discuss inheritance planning with your family
4 February
While most people write wills, very few families discuss inheritance. Parents avoid discussing inheritance planning with their children due to the subjectâs sensitivity. However, avoiding the conversation does more harm than good. For example,...[Read More]