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Tax

CGT concessions available to small businesses
Tax

CGT concessions available to small businesses

By On 19 November 2020

Businesses receive four different types of concessions on top of CGT exemptions and rollovers which are available to everyone. These allow businesses to disregard or defer some or all of the capital… Read More

What you need to know about claiming tax deductions
Tax

What you need to know about claiming tax deductions

By On 12 November 2020

There are different types of deductions that individuals can claim to reduce their taxable income. Work-related expenses In order to claim work-related tax deductions, the expenses must have to meet three criteria.… Read More

Taxation of your investment income
Tax

Taxation of your investment income

By On 5 November 2020

Investment income needs to be included when conducting tax returns. This includes any income acquired through interest, dividends, rent, managed funds distributions, and capital gains. The income yielded from investments is taxed… Read More

Using PAYG instalments for your business and investment income
Tax

Using PAYG instalments for your business and investment income

By On 29 October 2020

Pay as you go (PAYG) instalments are payments you can make throughout the year to avoid accumulating a large tax bill to pay at the end of the year. Making these payments… Read More

Tax relief to help individuals through the pandemic
Tax

Tax relief to help individuals through the pandemic

By On 22 October 2020

The Federal Budget for 2020 announced personal and business tax relief through various tax cuts. The legislation was approved by parliament meaning that individuals and businesses will be paying less tax, and… Read More

Fringe benefits and fringe benefits tax
Tax

Fringe benefits and fringe benefits tax

By On 15 October 2020

What are fringe benefits? Employees may opt to make an agreement with their employers that provides them with fringe benefit ‘payments’ in a form other than salary or wages. There are various… Read More

What you need to know about JobMaker
Tax

What you need to know about JobMaker

By On 7 October 2020

Job losses have been extensive during the COVID-19 pandemic and the JobMaker Hiring Credit will give businesses incentives to take on additional employees aged between 16 and 35 years old. Eligible employers… Read More

Insolvency reforms to support small business
Tax

Insolvency reforms to support small business

By On 7 October 2020

The government recognises that despite support to get through the COVID-19 outbreak, not all businesses are going to remain viable. Many small businesses will have significantly increased levels of debt in order… Read More

Upskilling Australia
Tax

Upskilling Australia

By On 7 October 2020

The Budget highlights the government’s commitment to getting people back in jobs and upskilling Australians. The JobTrainer Fund which falls under the JobMaker Plan will support up to 340,700 free or low-fee… Read More

Lower taxes for businesses and individuals
Tax

Lower taxes for businesses and individuals

By On 7 October 2020

The Budget seeks to promote tax reform and simplification in an effort to support business investment and help reduce the personal income tax burden. Business Businesses are encouraged to invest with the… Read More