Accounting Bookkeeping Blogs

Latest News

SMSF member obligations

A recent Administrative Appeals Tribunal decision reminds us all that SMSF trustees (members) can be disqualified where serious breaches, be...
Read More
Latest News

Optus data breach

Following a recent cyber-attack, Optus customers are advised they could be at risk of identity theft. While Optus has not...
Read More
Latest News

Director identification numbers…time is running out

All existing directors of a company, registered Australian body, registered foreign company, or a director of corporate trustees of an...
Read More
Superannuation

ATO issues reminder about hardship requests

The ATO has reminded superannuation members that severe financial hardship does not meet the grounds for compassionate release. This reminder...
Read More
Taxation

Tax and Property Price Increases

With residential property values on a sharp upward trajectory, from a tax standpoint, what does this mean for owners and...
Read More
Latest News Taxation

Inheriting rental properties jointly A dilemma?

Imagine you’re lucky enough to inherit, say, four post-CGT rental properties from a deceased parent – but what happens when...
Read More
Business Latest News Taxation

Home as a place of business during COVID: CGT implications

The COVID-19 pandemic has resulted in more employees working from home than ever before. This, in turn, has resulted in...
Read More
Business Latest News Taxation

Christmas and the Taxman

When do employee gifts and celebrations attract fringe benefits tax (FBT)? And when are they exempt? Christmas is traditionally a...
Read More
Latest News Taxation

Capital works deductions for rental property

Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed...
Read More
Taxation

Renting out part or all of your home

Generally, if you rent out part or all of your home, the rent money you receive is assessable. This means...
Read More
Business Latest News Taxation

Beware of disguising undeclared foreign income as gifts or loans

Many people living in Australia often have money remitted to them from overseas. Often this money is from relatives, friends...
Read More
Business Latest News Taxation

Undisclosed income risks hefty asset betterment statements

A recent Federal Court decision has put the spotlight on asset betterment – the controversial approach the ATO takes to...
Read More
Latest News

A business industry code may help with your tax outcome

The ATO has a business industry code (BIC) tool to help small businesses speed up their tax return lodgement. The...
Read More
Latest News

The ATO’s eligibility requirements for SMSF trustees or directors

All members of a self-managed super fund (SMSF) must be individual trustees or directors of the fund’s corporate trustee. Anyone...
Read More
Business Taxation

New guidance on “personal services income” rules

The ATO has recently updated its guidance material on the operation of the personal services income (PSI) and personal service...
Read More
Latest News

JobMaker hiring credit: What you need to know

The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget,...
Read More
Latest News

Getting a tax valuation from the ATO

Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value...
Read More
Latest News

Natural disasters and help with your tax

Now that we are into bushfire season, and even flooding events have already occurred, it is perhaps timely to be...
Read More
Latest News

Single Touch Payroll: When your reporting can cease

A business may no longer be required to lodge single touch payroll (STP) reports for a number of reasons. These...
Read More
Business Superannuation

SMSF regulations to allow six members under new legislation

A bill has been introduced into Parliament that partially implements a measure to allow an increase in the maximum number...
Read More
1 2