Latest News

Mental Health Support for Business Owners

With COVID-19 lockdowns and disruptions to trade, the pressure can be intense for Small Business Owners. A free and confidential mental health program developed by Beyond Blue is available to give small business owners the support they need.

Victorian Government business boost announced for the extended lockdown

While Victoria is expected to remain in lockdown until the start of October, the Victorian Government will be rolling out additional financial support for the state’s small and medium businesses as they continue to grapple with the sustained impacts of lockdown restrictions.

The ATO examines property investors as deduction issues increase

The ATO has issued a warning to property investors this tax time following rental income and deduction errors found in over 70 per cent of tax returns audited last financial year

Employers exempt from FBT for retraining employees

Employers who deliver training to employees who are to be made redundant will now be exempt from fringe benefits tax after the legislation passed through Parliament.

Work from home expenses under scrutiny & the perils of browsing Facebook

If you worked from home during lockdown and spent money on work related items that were not reimbursed by your employer, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed.

Tax exemption for ‘granny flat’ arrangements

To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.

The 1 July 2021 superannuation changes

Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.

ATO’s good-faith approach to crypto won’t last much longer

The ATO has upheld its good-faith approach to the accounting of cryptocurrencies, however it isn’t likely to last much longer.

For those involved in cryptocurrencies, now is the time to really pay attention to the current taxation rules before the ATO tightens enforcement of undeclared crypto assets.