Latest News

It’s Time For Global Sincome Tax

Small Business People have been looked down upon for far too long. They need a chance to stand up against the multinational giants.

Australians Pay $107,000 To Tax Scams

The ATO has been made aware of fake tax agents who are conning members of the public and making them believe that they owe debt.

The scam has taken the form of a cold-call, with fraudsters phoning victims and convincing them into giving information about their finances and current tax agent.

Estate Planning Steps Should You Be Getting Divorced

With 1 in 3 first marriages and 1 in 2 second marriages ending in divorce you just cannot afford to overlook your estate planning.  Divorce is not easy and it often forces you to invest significant amounts of time, money and stress.  It’s not only a difficult time emotionally with a lot to do and many decisions to make, so it’s no surprise that many people fail to update their estate plan including the impact on business structures.

Utilising Redraw For Your Investment Property

My client, let’s call her Rachel, is planning on moving into this property for one to two years and renovating it during that time, before moving on to her next property and renting this one out.  There are many things to think about when getting a mortgage but I am only going to look at the potential tax effects of different loan structures.

RBA Leave Cash Rate On Hold

The RBA Board has left the official cash rate on hold for the 26th consecutive month at 1.50 per cent.

ATO Detects Over $53 Million Worth Of Tax Time Errors

The Australian public has lodged nearly six million tax returns already this year, with over $11.9 billion in refunds processed, which is $270 million more compared with the same time period last year.

Every Three Year SMSF Audits – A Ludicrous About Face

SMSF Auditors now must: be registered with ASIC; be registered with the ATO; have enormous amounts of regular professional updates; and also be audited by their peak professional bodies, such as the Chartered Accountants ANZ and CPA Australia.

Changes To CGT Exemption For Inherited Property

When someone inherits a dwelling there are some special rules contained within the main residence exemption provisions that can provide a full exemption if certain conditions are met. If the conditions are not met, the beneficiary might face a nasty capital gains tax (CGT) bill for their good fortune.