Happy New ‘Financial’ Year!

Wishing you all the best for the new financial year! May this financial year be a rewarding year in all aspects of your life, including reaching financial goals and achieving…

The 2019/20 Federal Budget was released by the Treasurer Josh Frydenberg on April 2, 2019. This pre-election budget detailed some significant tax measures including: An increase in the immediate asset…

Increased Luxury Car Tax Refunds Farmers and tourism operators who use luxury vehicles in their business are currently able to access refunds of up to $3,000 of the luxury car…

The Government has again announced superannuation changes in this year’s Budget, which are aimed at increasing contribution opportunities for individuals aged between the ages of 65 and 74. Work Test…

Instant Asset Write-Off The Government has announced an expansion of the instant asset write-off threshold from $25,000 to $30,000, with medium-sized businesses (with a turnover of up to $50m) now…

The Government has announced measures that seek to build on previously legislated changes to reduce personal income tax over the next six years. Low & Middle Income Tax Offset (LMITO)…

In an end of financial year compliance blitz, the Australian Taxation Office (ATO) is targeting small businesses in Victoria, Queensland and the Northern Territory and expects to visit up to…

Everybody wants to save tax. The late Kerry Packer (Australian billionaire and media magnate) once said in reference to the Australian Government, “Now of course I am minimising my tax…

It’s exciting when you have that light bulb moment, that flash of brilliance and idea for your new business. It’s hard not to get carried away with the excitement but…

Individuals approaching retirement age may be considering downsizing their family home to top up their retirement nest egg. Effective from the 1st July 2018 a new superannuation contribution category was…