9 06, 2021

June Newsletter Published 9.06.2021

2021-06-08T13:09:32+10:00

June Newsletter Published 9.06.2021

Our June Newsletter was sent out today – Did you receive yours?

June 2021 Issue Covered

  • The Tax Treatment of Cryptocurrency
    – CAPITAL GAINS TAX
    – PERSONAL USE ASSET
    – REVENUE ACCOUNT?
    – TRADING STOCK?
    – FOREIGN CURRENCY GAINS OR LOSSES?
    – RECORD KEEPING
  • New Guidance on “Personal Services Income” Rules
    – WHY THE PSI LURE?
    – THE UPDATES
    – THE 50% TEST
    – THE RESULTS TEST
    – THE PSB RULES
    – IMPACT OF THE PSI RULES
    – CAN ANTI-AVOIDANCE RULES APPLY?
  • […]

June Newsletter Published 9.06.20212021-06-08T13:09:32+10:00
12 05, 2021

Federal Budget 2021-22

2021-05-12T18:54:03+10:00

Federal Budget 2021-22

The Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses.

Rather, the Government has decided to put its foot on the accelerator with the hope that the growth in the economy over a long period of time will help to pay down the debt that has been central to the Government’s response to COVID-19.

On personal taxation, in an expected announcement, the Government confirmed that […]

Federal Budget 2021-222021-05-12T18:54:03+10:00
5 05, 2021

May Newsletter Published 5.05.2021

2021-05-03T22:53:14+10:00

May Newsletter Published 5.05.2021

Our May Newsletter was sent out today – Did you receive yours?

May 2021 Issue Covered

  • EOFY Tips for Your Tax Plan
  • Temporary full expensing
  • Use the CGT rules to your advantage
  • Investment property
  • Pre-pay investment loan interest
  • Bring forward expenses / defer income
  • Dealing with excess before-tax super contributions
    – Case study
    – EXCESS CONCESSIONAL CONTRIBUTION CHARGE
    – SHORTFALL INTEREST CHARGE
    – Final reminders
  • The SME Recovery Loan Scheme is now open
    – […]
May Newsletter Published 5.05.20212021-05-03T22:53:14+10:00
15 04, 2021

April Newsletter Published 15.04.2021

2021-04-12T17:21:19+10:00

April Newsletter Published 15.04.2021

Our April Newsletter was sent out today – Did you receive yours?

April 2021 Issue Covered

  • Some money is not counted as ‘income’ by the ATO
  • New insolvency reforms to support small business
    – ELIGIBILITY
    — Non-assessable, non-exempt income
    — Other amounts that are not taxable
    – SIMPLIFIED LIQUIDATION
  • When it comes to real estate and CGT, look at timing
    – Two “main residences” is possible
  • Managing your superannuation transfer balance account
    – CREDITS TO […]
April Newsletter Published 15.04.20212021-04-12T17:21:19+10:00
3 03, 2021

March Newsletter Published 03.03.2021

2021-03-03T03:37:40+11:00

March Newsletter Published 03.03.2021

Our March Newsletter was sent out today – Did you receive yours?

March 2021 Issue Covered

  • Update your ABN … or miss out!
  • Vehicle benefit FBT treatment changes under COVID-19
    – A work car park closes
    – Closure of nearby commercial parking stations
    – Reduced rates at commercial parking stations
    – Car returned to employer’s business premises
    – Garaging work cars at an employee’s home
    – Log books
  • A hand up for small businesses on […]
March Newsletter Published 03.03.20212021-03-03T03:37:40+11:00
8 12, 2020

December Newsletter Published 08.12.2020

2020-12-08T14:25:28+11:00

December Newsletter Published 08.12.2020

Our December Newsletter was sent out today – Did you receive yours?

December 2020 Issue Covered

  • A STRATEGY OPENS
  • THE MECHANISM
  • Calling time out on your business? Some essentials you’ll need to know
    – STEP 1: LODGEMENT AND PAYMENT
    – STEP 2: REFUNDS
    – STEP 3: CANCEL PAY-AS-YOU-GO (PAYG) WITHHOLDING REGISTRATIONS
    – STEP 4: CANCEL THE ABN
    – STEP 5: RECORD KEEPING
  • Small business CGT concessions: Goal posts moved on vacant land and active […]
December Newsletter Published 08.12.20202020-12-08T14:25:28+11:00
11 11, 2020

November Newsletter Published 11.11.2020

2020-11-05T15:29:13+11:00

November Newsletter Published 11.11.2020

Our November Newsletter was sent out today – Did you receive yours?

November 2020 Issue Covered

  • What the “full expensing” write-off deduction means for business
    – Some existing conditions remain
    – Meeting the required conditions
    – Anti-avoidance provision
  • Both tax and SMSF audits on still on ATO’s radar, but some leniency given
    – No penalties for asset valuations if insufficient evidence
    – Other considerations
  • ATO’s cyber safety checklist
  • The investment option that can hide […]
November Newsletter Published 11.11.20202020-11-05T15:29:13+11:00
7 10, 2020

Federal Budget 2020 – 2021

2020-10-07T17:07:41+11:00

Federal Budget 2020 – 2021

Our Federal Budget 2020 – 2021 Newsletter was sent out today – Did you receive yours?

Federal Budget 2020 – 2021 Issue Covered

  • BUSINESS
    – FBT exemption to support retraining and reskilling
    – Reducing the FBT compliance burden of record keeping
    – Individual tax rates for residents
    – Increase to small business entity turnover threshold
  • R&D TAX INCENTIVE
    – SMEs: ATO confirms JobKeeper payments do not contribute to aggregated turnover
  • TEMPORARY “FULL EXPENSING” […]
Federal Budget 2020 – 20212020-10-07T17:07:41+11:00
1 10, 2020

October Newsletter Published 01.10.2020

2020-10-01T17:08:13+10:00

October Newsletter Published 01.10.2020

Our October Newsletter was sent out today – Did you receive yours?

October 2020 Issue Covered

  • JobKeeper rules, conditions and payment rates have changed
    – JobKeeper is a two-tiered payment arrangement
  • New data matching programs initiated by the Federal Government
    – SMEs: ATO confirms JobKeeper payments do not contribute to aggregated turnover
  • Fears of Div 7A danger from COVID-relaxed loan repayments unfounded
  • Electronic execution of documents during COVID-19
    – CONTRACTS
    – DEEDS, STATUTORY […]
October Newsletter Published 01.10.20202020-10-01T17:08:13+10:00
1 09, 2020

September Newsletter Published 01.09.2020

2020-09-01T14:49:52+10:00

September Newsletter Published 01.09.2020

Our September Newsletter was sent out today – Did you receive yours?

September 2020 Issue Covered

  • COVID-19 payments and some issues for companies and trusts
    – Trust distributions
    – Cash flow boost
    – JobKeeper
    – Franking credits
    – Company beneficiaries
    — JobKeeper amendments
    — Business can claim previous year tax losses
  • COVID-19 and trust liquidity issues
  • Where you stand with vehicles and the boosted instant asset write off
  • COVID-19 and SMSF rental relief
    – Leasing principles
    – Non […]
September Newsletter Published 01.09.20202020-09-01T14:49:52+10:00
Go to Top