Tax

If Santa was an Australian tax resident

A lighter look at the complexity of Australian taxation laws and the year that has been.

ATO reminder regarding inactive ABNs

The ATO has advised that inactive Australian Business Number’s may soon be automatically cancelled in a current review. Those who are unsure if their ABN is still active or not should get in touch with their accountant or bookkeeper.

The top Christmas tax questions

Every year, we are asked about the tax impact of various Christmas or holiday related gestures. In this article we take a look at some of the top issues.

Business and personal expenses should not be mixed

There are certain things in life that blend well and others that absolutely don’t. Personal and business finances are the type of thing that shouldn’t be mixed.

An overview of the main residence CGT exemption

Generally, a property, including a taxpayer’s main residence, ie their family home, is considered to be a Capital Gains Tax (CGT) asset.

Tax and the Normalisation of Cryptocurrency

In early November, the Commonwealth Bank announced that it is now Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app.

Divorce, Superannuation and the Gender Divide

New legislation will help prevent superannuation assets from being hidden during divorce proceedings.
From 1 April 2022, the Australian Taxation Office (ATO) will be able to release details of an individual’s superannuation information to a family law court.

Unwinding COVID-19 Relief

COVID-19 support will roll back as states and territories reach vaccination targets.

The National Plan, the road map out of COVID-19, does more than provide greater freedoms at 70% and 80% full vaccination rates, it withdraws the steady stream of Commonwealth financial support to individuals and business impacted by COVID-19 lockdowns and border closures. We look at the impact and the support that remains in place.