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120% deduction for skills training and technology costs

120% deduction for skills training and technology costs

The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business.An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This propo...

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Acquiring collectables inside your SMSF

Clients with self managed superannuation funds (SMSF) often ask what assets the SMSF can acquire.‘Why’?The golden rule for acquiring assets inside your SMSF is why? To be compliant, your fund must be maintained for the sole purpose of providing retirement benefits to members, or to their dependan...

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Australian super funds gorge on cryptocurrencies

Australian super funds gorge on cryptocurrencies

The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics. While cryptocurrency is a relatively small asset class at only 0.16% of the $837bn held in SMS...

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How to sell your business

We’re often asked the best way to sell a business.There are two key components at play in the sale of a business: structuring the transaction; and positioning the business to the market. Both elements are important and can significantly impact your result. Structuring the transaction covers ...

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Lessons from a data breach

The Optus data breach is top of mind for a lot of Australians, particularly those who have had their data breached.For business, the breach is a timely warning on the importance of understanding what data is held on your customers (and should you hold it?), how it is secured, how your systems wor...

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Register your .au domain

Register your .au domain

23:59 UTC on 20 September 2022 is the cut-off to register for your .au direct domain. The .au domain is the new, general purpose, shorter Australian domain name option. If you do not register the direct match of your existing domain for the direct .au domain, you risk your brand equity being...

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States move on property based taxes

States move on property based taxes

Queensland backs down on Australia wide land tax assessmentThe Queensland Government has backed away from an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s Australia wide land holdings from 1 July 2023, not just the v...

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To cut or not to cut? Stage three personal tax cuts

To cut or not to cut? Stage three personal tax cuts

In September, amid a climate of startling interest rates, UK Chancellor Kwasi Kwarteng announced a series of tax cuts, including the reduction of the top personal income tax rate that applies to those earning more than £150,000 from 45% to 40%. Just ten days later, following market turmoil that s...

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Overcome your customers fear of spending

Overcome your customers fear of spending

One of the biggest complaints from salespeople in a tight economy is the time it takes to achieve a sale.  So, what can you do to speed up the sales process?Sell the solution not the productBranding is wonderful but unless your brand is as mighty as Coca Cola, it’s unlikely people will purch...

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Tax & the family home

Tax & the family home

Everyone knows you don’t pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption.Capital gains tax (CGT) applies to gains you have made on the sa...

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