Category: Tax
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…
Continue readingFrom 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…
Continue readingSteering 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…
Continue readingLogbooks: 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…
Continue readingYour 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…
Continue readingAm 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…
Continue readingGet Prepared For 31 October – What Income Do You Need To Declare?
If you haven’t finalised your tax return, you need to do so before October 31 2023. However, sometimes the form can be daunting, particularly if you’re unsure what to declare regarding income.…
Continue readingProviding Affordable Housing? You Could Be Eligible For A CGT Discount
An additional 10% capital gains tax (CGT) discount may be available when you sell an Australian residential rental property that you used to provide affordable housing. This will increase the potential maximum…
Continue readingTaking Away The Cryptic from Cryptocurrency
The popularity of the digital currency known as crypto often leads to many questions when it comes to tax time. However, it’s encouraged that you speak with your accountant about your obligations…
Continue readingHow Connected Are You In The World Of Tax?
In the realm of tax law, a critical concept revolves around understanding the notion of “entities connected with you.” This concept serves as a linchpin in several aspects of taxation, from determining…
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