Sky Update – August 2017

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Work-related expense claims under scrutiny Will you claim work-related expenses on your tax return this year? The ATO now uses real-time data to compare people’s tax returns with others in similar occupations and income …

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Financially Speaking – Spring 2017

Check-out the latest edition of Financially Speaking hot off the presses. Check out all the great articles, including an in depth market update, in the latest edition of Financially Speaking. If you would like to discuss any of the articles in the latest edition, do not hesitate to get in touch. Financially Speaking – Spring …

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Sky Update – July 2017

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Instant asset write-off extended for small business entities The legislation to extend the $20,000 Instant Asset Write-off for 12 months to 30 June 2018  has received Royal Assent. Small Business Entities (turnover < $10m) can …

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Sky Update – June 2017

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Super reforms from 1 July 2017 If you are a member of a self managed super fund (an SMSF) you may need to take action to avoid exceeding the new $1.6 million transfer …

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End of Financial Year 2017

With EOFY 2017 just around the corner businesses and individuals will be starting to think about all things tax. The following is a list of items to consider to help you achieve the best possible tax outcomes. Superannuation contributions There is just enough time left to maximise contributions before the contribution limit reduces to $25,000 on 1 …

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Sky Update – May 2017

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Federal Budget 2017-2018 On Tuesday the 9th of May the Federal Budget was handed down with a key focus being housing affordability. As usual, there were a number of significant changes announced to …

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Federal Budget 2017-2018

On Tuesday the 9th of May the Federal Budget was handed-down. As always, there were a number of tax changes announced. We have a brief run-down of those announcements to assist you in understanding how the budget will affect you personally. Highlights Notwithstanding speculation to the contrary, the Temporary Budget Repair Levy (levied at two …

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Sky Update – April 2017

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Ride-sharing drivers must register for GST In a recent decision, the Federal Court has held that the UberX service supplied by Uber’s drivers constitutes the supply of “taxi travel” for the purposes of …

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Sky Update – March 2017

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Personal services income diverted to SMSFs: ATO extends offer Since April 2016, the ATO has been reviewing arrangements where individuals divert personal services income (PSI) to a self managed super fund (SMSF) to …

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Fringe Benefits Tax 2017

The 2017 FBT year end of 31 March 2017 is now just a few days away. Now is the time for businesses to review their position to identify if they need to submit a FBT return. What is FBT? FBT is a tax payable by employers on non-cash benefits provided to employees.  This is essentially …

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