Your Knowledge
The key influences of 2024
Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024? We explore some of the key...
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Your Knowledge
Dec 20, 20232 min read
Tax on super balances above $3m hits Parliament
Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament. While not a concern for the average...
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Your Knowledge
Nov 13, 20234 min read
Workers owed $3.6bn in super guarantee
Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian Taxation Office estimates – a figure...
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Your Knowledge
Nov 13, 20231 min read
When trust distributions to a company are left unpaid
What happens when a trust appoints income to a private company beneficiary but does not actually make the payment? The tax treatment of...
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Your Knowledge
Nov 13, 20231 min read
Fixed-term employment contracts limited to 2 years
From 6 December 2023, employers can no longer employ an employee on a fixed-term contract that: is for 2 or more years (including...
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Your Knowledge
Nov 13, 20231 min read
30% tax on super earnings on balances above $3 million
Treasury has released draft legislation for consultation to enact the Government’s plan to increase the tax rate on earnings on...
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Your Knowledge
Nov 13, 20233 min read
When is food GST-free?
Chobani plain yoghurt is GST-free but Chobani’s ‘flip’ range is taxable? A recent case before the AAT demonstrates how fine the dividing...
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Your Knowledge
Nov 13, 20232 min read
Warning: Redrawing investment loans
The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax...
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Your Knowledge
Oct 11, 20233 min read
$20k deduction for ‘electrifying’ your business
Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We...
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Your Knowledge
Oct 11, 20234 min read
The ‘Airbnb’ Tax
Property investors that choose to utilise their property for short-term stays (or leave it vacant) are firmly in the sights of the...
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Your Knowledge
Oct 11, 20234 min read
Self-education: What can you claim?
The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of...
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Your Knowledge
Oct 11, 20231 min read
30% tax on super earnings above $3m
Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances...
7
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