The ATO released draft TR 2023/D2 which provides guidance on whether an asset that is made up of a number of parts or components (composite item) is itself a depreciating …
From 6th December 2023, there are new fixed term contract rules that will apply to new employment arrangements. We have summarised the key changes for you to be aware of, …
Please note that Payday super is currently only proposed legislation and is currently in the consultation stage and has not yet been introduced or passed. The below information is provided …
Founding, building and growing your own small business is a hugely rewarding experience for many entrepreneurs, but there are common challenges and ongoing issues that need to be factored into …
The superannuation guarantee (SG) rate is set to increase from 10.5% to 11% on 1 July 2023. Employers will need to update their payroll systems to ensure the updated rate …
The Victorian Government has handed down the state budget on Tuesday 23rd May 2023, with a significant focus on repaying the states COVID debt. This budget means different outcomes for …
Refinancing is THE buzzword in the mortgage industry right now. But what is it, what can it do for you, and when should you do it? Back in November 2022, …
The Federal Government delivered the Federal Budget on Tuesday 9th May 2023. The Budget Papers say the underlying cash balance is estimated to be in surplus by $4.2 billion (0.2 …
Do you have a Holiday Home? If you have a holiday home or any residence that is not considered your main residence, the taxation treatment during the ownership period and …
The ATO has issued new guidance for individuals who wish to claim Working From Home (WFH) tax deductions. The two following methods will be effective from 1 July 2022 as …
What does FBT mean for Employers? Do you offer your employees benefits in addition to salary and wages? If so, you may need to report FBT. Fringe benefits can help …
Federal government proposes tax rate increase for super balances above $3 million The federal government has proposed that individuals with superannuation balances above $3 million will be subject to an …
