If you’re thinking about selling an investment property, shares, or any other asset before the end of the financial year, the date you sign the contract could be the most important financial decision you make. Capital gains tax planning isn’t just about how much you earn from a sale — it’s about which financial year…
With 30 June approaching, now is one of the most valuable times of year to sit down and review your business expenses. Many small business owners either miss deductions they are entitled to claim, or claim them incorrectly and invite ATO scrutiny. A thorough pre-EOFY review can make a genuine difference to your tax bill…
The fringe benefits tax year runs from 1 April to 31 March — and if your business provided any non-cash benefits to employees or their family members during that period, an FBT return may be due. The lodgement deadline is 21 May, so now is the time to check whether this applies to you. What…
Inheriting a home can be both an emotional and practical experience. Alongside the personal significance, there are important tax considerations to be aware of – particularly if you decide to live in the property for a period and then sell it. Understanding how the Australian tax rules apply can help you avoid surprises and make…
Paying tax can sometimes feel daunting, but the PAYG system is designed to make it easier to manage. PAYG, or Pay As You Go, allows individuals and businesses to meet their tax obligations gradually throughout the year, rather than facing a large lump-sum payment at the end of the financial year. Breaking your tax into…
In today’s digital world, people are accumulating assets in more forms than ever. Some are obvious, such as shares or property, while others exist quietly online and are often forgotten until tax time. Yet even if you haven’t thought about them in months – or years – these digital assets can still have tax implications…
Life doesn’t always go to plan. Unexpected events such as job loss, illness, natural disasters, business downturns, or family crises can make it difficult to meet your tax obligations on time. Managing tax bills and lodgments under pressure can be stressful, but support is available to help you navigate these challenges and stay on track.…
Fringe Benefits Tax (FBT) is a tax that applies to most non-cash benefits provided to employees in addition to their salary or wages. For employers, understanding FBT is essential to stay compliant, avoid penalties, and manage the financial implications of providing benefits. What Is Fringe Benefits Tax? FBT is separate from income tax and is…
Looking to buy a house for the first time, or to purchase another property? Buying a home is an exciting time, fraught with anticipation, but also with tax obligations and compliance. In some cases, those tax obligations can add up to additional costs. Understanding these costs before you commit helps you budget more accurately and…
After a proper break, getting back into business mode can feel tough. January can feel like one long Monday, making your vacation seem further away by the day. But for businesses, it’s imperative. Between catching up on emails, reconnecting with clients and getting your team back into routine, it’s easy for tax and compliance obligations…