Wealth Management

June 2021: The tax treatment of cryptocurrency, PSI rules, SMSF trustees and more …..

Bitcoin and cryptocurrencies have had a bit of a resurgence, which may even have something to do with the pandemic. But the implications for your tax outcomes is something even the ATO is wary about. We also look at “personal services income” and the ATO’s refreshed guidance, the qualifications that are expected for SMSF trustees, and how to …

June 2021: The tax treatment of cryptocurrency, PSI rules, SMSF trustees and more ….. Read More »

May 2021: EOFY tips for your tax plan and more …..

It’s getting very close to the business end of the financial year, so we have gathered some tax planning tips that could set you up for a better tax outcome.  And as that outcome can be ruined by having to deal with an excess super contribution charge, we look at how best to avoid it. The ATO has tightened the …

May 2021: EOFY tips for your tax plan and more ….. Read More »

April 2021: Money not considered income by ATO and more …..

When it comes to selling property and CGT liabilities, the timing of the transaction can be more important than many expect. We also look at the fact that not every type of income is taxed, with some money escaping tax altogether.  There are new insolvency reforms that could help some small businesses in their climb out of the …

April 2021: Money not considered income by ATO and more ….. Read More »

March 2021: Update your ABN, Vehicle FBT & COVID, Booming SMSF sector and more …..

Government agencies sometimes use ABN registration to contact businesses for emergency help or even grants of support, so it’s important to keep your business’s ABN details current. And the perennial problem of dealing with cash flow gets some advisory help from the ATO.  A new Director Identification Number regime is something companies may need to get familiar with very …

March 2021: Update your ABN, Vehicle FBT & COVID, Booming SMSF sector and more ….. Read More »

February 2021: JobMaker Hiring Credit, ATO Tax Valuations, Tax and Natural Disasters

One of the economy-boosting measures initiated to help in a post-COVID recovery is the JobMaker scheme. We run over what you need to know. And especially for this time of year, we look at tax and dealing with natural disasters. Getting a valuation is sometimes required when managing tax affairs, so we cover the basics in case you need to …

February 2021: JobMaker Hiring Credit, ATO Tax Valuations, Tax and Natural Disasters Read More »

December 2020: New loss carry back measures, calling time, when vacant land is an active asset and more

Find Out More The loss carry-back measure introduced in the 2020 Federal Budget can be a very helpful COVID-recovery option. We run over the details. But if the COVID wash-up means you need to call time-out on your business, there are some important facts to know here as well.  We also look at interest deductions available for rental …

December 2020: New loss carry back measures, calling time, when vacant land is an active asset and more Read More »

November 2020: Fully expensing write-off deductions, Tax and Super Audits, Cyber Security and more

Find Out More Introduced with the Federal Budget, the “full expensing” 100% write-off of eligible business assets is a welcome measure that many business owners may want to take advantage of. Also, with the extension to the JobKeeper scheme, a set of alternative decline in turnover tests are now available, should a business not fit …

November 2020: Fully expensing write-off deductions, Tax and Super Audits, Cyber Security and more Read More »

October 2020: New JobKeeper Rules, Conditions & Rates

Find Out More The JobKeeper scheme has been extended, and there are some important changes that participants will need to know. In good news, the treatment of JobKeeper income has been clarified.  We also look at two further data matching programs that have been launched, smooth concerns some may have had over the easing of …

October 2020: New JobKeeper Rules, Conditions & Rates Read More »

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