Articles
Unlocking the Benefits of CGT Main Residence Exemption Concessions
The capital gains tax (CGT) exemption for your main residence, combined with several useful concessions, can greatly influence your financial situation. These exemptions and concessions ...
Understanding the Fine Line Between Property Development and “Merely Realizing an Asset”
Sometimes, it can be tricky to tell if someone is involved in property development or just making use of an existing asset. For example, if ...
Are You A High-Income Earner? Beware of Division 293 Tax!
If you’re a high income earner, you may soon be asked to pay an extra 15% tax on the amount of concessional contributions that exceed ...
Tax Update
Pitfalls for lodging Early Before “Tax Ready” The Australian Taxation Office (ATO) cautions taxpayers about the risks of lodging tax returns too early. According to ...
ATO Identifies Key Focus Areas for Tax Time 2024
As 'tax time' approaches, the ATO has announced it will be focusing on three common errors made by taxpayers: Incorrectly claiming work-related expenses Inflating claims ...
Rental Properties – Traps and Pitfalls
The Australian Taxation Office (ATO) has found that nine out of ten residential rental property investors audited have made errors in their tax returns. Here ...
2024 Federal Budget Summary
Summary of tax and superannuation measures Jim Chalmers delivered his third Federal Budget on 14 May 2024, forecasting to deliver a surplus of $9.3 billion ...
Six super strategies to consider before 30 June
With the end of financial year fast approaching, now is a great time to boost your superannuation savings and potentially save on tax. Below are six ...
Family Companies and the Many Tax Traps
Understanding payments, loans, and the importance of compliance Operating a family-owned business introduces a unique set of challenges, particularly in the realm of tax management. ...