Category: Tax

What You Need To Keep Records-Wise For Cryptocurrency

In the ever-evolving landscape of cryptocurrency, where digital assets can fluctuate in value within moments, keeping meticulous records is not just a good practice but a necessity. Whether you’re a seasoned investor…

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Navigating Tax Reporting in the Sharing Economy

The Sharing Economy Reporting Regime (SERR) represents a significant development in Australia’s tax landscape, requiring certain businesses operating in the sharing economy to report specific transactions to the Australian Taxation Office (ATO).…

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Land Tax – Why An Understanding Of This Facet Of Tax Could Help With Your Yearly Tax Planning

Australia’s land tax is a vital component of the nation’s taxation system, playing a pivotal role in revenue generation for state and territory governments. Understanding the nuances of land tax is essential…

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Navigating Challenging Times – Understanding NANE Income Versus Assessable Income

The recent spate of extreme weather events during the summer in various parts of Australia has presented unprecedented challenges for small businesses. As a result, the pressing concerns they face may not…

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New Rules For Off-Market Share Buy-Backs Now Law

In a move to streamline and align the tax treatment of off-market share buy-backs, the 2023 October Budget introduced changes that have now become law (as of December 2023). These alterations, effective…

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From Peak Periods to Private Use: Mastering Deductions for Holiday Home Owner

It’s essential for property owners to understand the intricacies of deductions associated with their cherished holiday retreats. However, as the holiday season approaches, they may find that their holiday retreats become a…

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Steering Clear of Tax-Related Pitfalls: The ABN and GST Fraud Alert

In the realm of taxes and financial matters, it’s crucial to tread carefully and stay within the bounds of legality. The Australian Taxation Office (ATO) recently uncovered a surge in GST refund…

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Logbooks: One Of The Best Methods For Claiming Vehicle Expenses On Your Return

As a business owner, one of the perks is the ability to claim tax deductions for expenses related to motor vehicles used in your business operations. This includes cars and certain other…

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Your Tax Obligations After A Natural Disaster

As Australia braces for another bushfire season, it’s crucial to be prepared for a range of challenges, from evacuation plans to emergency-go-bags. Amidst all the chaos, you might wonder if your tax…

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Am I Eligible For The Small Business Technology Investment Boost?

Could your small business claim a 20% bonus deduction on technology expenditure that supports their digital operations or the digitisation of their operations? The small business technology investment boost is a broad…

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