The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update the next day on the important issues to you, your superannuation and your business.Little has been released to date on the impending Budget beyond the tax on super balances above $3m and the decision not t...
Read MoreBudget 2023-24
Wednesday, April 12, 2023
Company Money: A guide for owners
Wednesday, April 12, 2023
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right?There a myriad of ways owners look for paybac...
Read More
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right?There a myriad of ways owners look for paybac...
Read MoreHow Does Tax Apply to Electric Cars?
Wednesday, April 12, 2023
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles.The FBT exemption for electric carsIf your employer provides you with the use of a car that is classified as a zero or low emissions vehi...
Read More
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles.The FBT exemption for electric carsIf your employer provides you with the use of a car that is classified as a zero or low emissions vehi...
Read MoreSelling a business? The pros and cons of earn-out clauses
Wednesday, April 12, 2023
Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider.Business transactions often include earn-out clauses where the vendors ‘earn’ part of the purchase price based on the performance of the business p...
Read More
Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider.Business transactions often include earn-out clauses where the vendors ‘earn’ part of the purchase price based on the performance of the business p...
Read MoreWhat sharing platforms are sharing with the ATO
Wednesday, April 12, 2023
From 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term accommodation to report their transactions to the ATO each year. From 1 July 2024, the regime will expand to include all other platforms.While the legislative instrume...
Read More
From 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term accommodation to report their transactions to the ATO each year. From 1 July 2024, the regime will expand to include all other platforms.While the legislative instrume...
Read More