CGT concessions available to small businesses
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
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
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
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
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
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
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
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
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
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
