Tax
Property tax concession change talk sparks uncertainty
3 October
Property investors are anxiously awaiting any potential changes to tax breaks after a week of mixed messages on negative gearing and capital gains tax. Prime Minister Anthony Albanese has repeatedly insisted Labor has no plans to touch the tax...[Read More]
Planning to engage a new registered tax agent?
2 October
Learn what you can do to be well prepared before engaging a new registered agent. Are you planning to engage a new registered agent or change the authorisations youâve given your existing agent? Youâll need to nominate them in...[Read More]
PM bats back questions over curbing property tax breaks
26 September
The prime minister has swatted away questions about curbing property tax breaks after reports of secret modelling. The federal government has sought advice from Treasury on scaling back negative gearing and capital gains tax concessions, according...[Read More]
Universal childcare could mean higher taxes: Dutton
25 September
Early childhood education advocates back key recommendations aimed at improving accessibility for low-income families, but the coalition has warned of surging taxes for Australians. A Productivity Commission report, released on Wednesday, urged...[Read More]
Your guide for using business money and the tax consequences.
19 September
Are you using business money or assets for private purposes? Â Using money or assets from your company or trust for private purposes can have tax consequences if you donât account for these transactions correctly. Thatâs why itâs important to...[Read More]
Self-education expenses â can you claim them on your tax return?
12 September
You can claim a deduction for self-education expenses if the education relates to your employment activities. What are self-education expenses? Self-education expenses are the costs you incur when you: undertake courses at an educational...[Read More]
Tax cuts put away for rainy day as spending spree ends
4 September
Spending was flat last month, with tax cuts yet to materially improve retailer fortunes as many chose to stash extra cash away. The flat July outcome was below the 0.3 per cent growth consensus forecast and followed two months of upbeat...[Read More]
Housing approvals bounce back but market still subdued
4 September
A surge in new apartments has fuelled a rebound in sluggish housing approvals, as the coalition floats the possibility of withholding GST payments from states if they donât meet construction targets. There was a 10.4 per cent increase in the...[Read More]
Poorer Aussies feeling pocket pinch with wealth gap
28 August
Poorer Australians are copping the brunt of increasing prices for everyday goods and often have no savings buffer due to wealth inequality and tax breaks favouring the rich, a new report says. Anglicare Australiaâs Widening the Gap report reveals...[Read More]
Claiming business expenses â Your guide to claiming business expenses correctly.
22 August
You can claim tax deductions for expenses you incur while running your business if theyâre directly related to earning your business income. This is also known as assessable income. Take Zac for example. Zac is a sole trader who works as a...[Read More]
Did you energise your business? Find out if you can get a bonus tax deduction for the eligible costs you incurred between 1 July 2023 and 30 June 2024.
15 August
Businesses (with an aggregated annual turnover less than $50âŻmillion) may be able to access a bonus 20% tax deduction with the small business energy incentive (the incentive). This applies to new assets, or improvements to existing assets,...[Read More]
âFighting for crumbsâ as Australia forgoes wealth taxes
15 August
Australia must overhaul how it taxes capital gains, wealth and inheritance to stem spiralling wealth inequality, according to a new report. The wealth of Australiaâs richest 200 people almost tripled as a proportion of national gross domestic...[Read More]
Rich getting richer amid calls to narrow wealth divide
15 August
Ordinary Australians struggle to make ends meet while the richest enjoy billions in untaxed capital gains, a new report claims. The wealth of Australiaâs richest 200 people almost tripled as a proportion of national gross domestic product over the...[Read More]
The instant asset write-off is now law â Find out if your business is eligible for the $20,000 instant asset write-off.
8 August
Have you purchased or upgraded a business asset? If your business has an aggregated annual turnover of less than $10 million, you may be able to deduct the full cost of eligible assets which cost less than $20,000, under the instant asset...[Read More]
The Tax Time toolkit for small business is now available
1 August
Get ready for tax time with ATO small business Tax Time toolkit. The 2024 Tax Time toolkit includes useful information, tools, calculators, learning resources, and other support and services. This toolkit is your one-stop-shop for help during...[Read More]