Blog —
End of Financial Year Tax Tips
The end of financial year is almost here! Now is the time to review what strategies you can use to minimise your tax. 1. Maximise Deductible Super Contributions Individuals can now make...
What you need to know about FBT 2018
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees. Motor vehicles – using the company car outside of work New safe harbour for utes...
Work-related travel claims on the ATO’s radar
Last year the ATO went before the Administrative Appeals Tribunal to battle against a truck driver whose large work-related travel claims grabbed their attention. The case revealed that the taxpayer...
In an effort to encourage compliance, ATO relaxes rules for private use of work utes
The ATO has plans to relax the rules for the private use of work utes in the lead up to their blitz on Fringe Benefits Tax non-compliance. Existing rules allow utes to only be used for 'minor,...
Saving for your first home? Thinking about downsizing? How super can lend a hand
If you're planning on downsizing, or are at the opposite end of the spectrum and saving for your first home, you may be able to take advantage of the super concessions introduced as part of the...
State tax warning for family trusts
Recent changes to State laws may trigger a surprise tax bill for family trusts (discretionary trusts). The problem for family trusts stems from recent legislative changes in New South Wales (NSW),...
Saving on insurance costs
The 2017 State Budget brought with it a change worthy of celebration for small businesses. The NSW small business exemption will mean that from 1 January 2018, small businesses will no longer have...
Government incentives to hire new employees
Changes to the Jobs Action Plan and the Small Business Grant are providing incentives for NSW businesses to up their employee count. Companies that are liable for payroll tax can earn up to $6000...
Thinking of purchasing a residential property? Here is what you need to know about recent property depreciation changes
Last month the Senate passed the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017, with which came changes to depreciation for existing residential properties purchased after 9 May 2017....
Foreign property owners slapped with fee for vacant property
Australia has followed the international trend of penalising foreign owners of Australian residential property who keep their property vacant for extended periods of time. Last month Parliament...
The flipside of renovating
Many clients presume that when they renovate their gains will be exempt from tax, so long as the property being renovated is their main residence. This is not always the case. We’ve summarised the...
How to get to our new office
As you will no doubt be aware, last month the team moved into our new premises in North Sydney. We've finally settled in and are beyond pleased with the location and refreshing chance of space. We...