2023-24 Federal Budget Highlights

Welcome to our blog post discussing the recently released 2023-24 Federal Budget, unveiled by Jim Chalmers, the Federal Treasurer, on May 9th, 2023. This budget has been carefully crafted with…

Every start-up business owner is looking to fast track their success. While there’s no magic formula that guarantees business success, there’s a number of proven strategies that can help you…

Business owners make lots of sacrifices. They typically give up their steady job and regular income to pursue their venture. They take financial risks, often experience sleepless nights and burn…

Federal Treasurer Jim Chalmers recently announced plans to increase tax rates for individuals with superannuation account balances in excess of $3 million. From 2025/26, future earnings for balances above $3…

Taxpayers can choose one of two methods when claiming working from home deductions – either the “actual cost” or “fixed rate” method. Only the fixed rate method is changing. Following…

​Work expenses, omitted income and rental property claims have been identified as primary targets by the ATO to narrow the $8 billion gap between what individuals pay in tax and…

​The Australian Taxation Office (ATO) have revealed the industries they are watching carefully given the black economy is very active. The black economy or ‘shadow economy’ refers to activities that…

​As part of the 2019-20 Federal Budget, the government announced that Single Touch Payroll (STP Phase 2) would be expanded with a mandatory start date of 1st January 2022. This…

​Starting a business requires research, risk, passion and planning. The start-up phase can be exciting but also exhausting with research to be done on your market and your competitors plus…

Businesses that fall behind on their tax lodgements can expect the financial penalties to increase dramatically from January 1, 2023, with more rises to follow. Buried in the Federal Budget…