If a director of a company has been issued a Director Penalty Notice (DPN) they must act within the 21-day notice period or their personal

Division 7A – What, When, How and Why? Division 7A loans represent a critical yet often overlooked aspect of financial management for business owners. Designed

In the throes of the COVID-19 pandemic, while the world grappled with the human toll, another casualty remains largely unseen: Australia’s small businesses. These enterprises,

Understanding GST Registration for Your Business We wanted to provide you with some clear insights into Goods and Services Tax (GST) registration, making sure it’s

Navigating Small Business Capital Gains Tax (CGT) Concessions to Save TA For businesses that qualify as “CGT small businesses”, the importance of accessing CGT small

What should I consider when refinancing my loan? Refinancing a home loan can be a strategic move to save money, get better terms, or access

What is a Bucket Company? Ensuring your business remains profitable is one of your most important responsibilities and primary goal for you as a business

Your Personalized Checklist for Choosing the Best Business Structure As you embark on the exciting journey of choosing the ideal structure for your business, it’s

Can my SMSF invest in property development? Doing a property development with superannuation funds sounds appealing to many because Australians love property and love paying

Who is an Australian Resident for Tax Purposes? Great news! The Australian Taxation Office (ATO) has just issued the final version of Taxation Ruling TR

Deductibility of expenses associated with holding vacant land Broadly, tax law denies a deduction for losses or outgoings relating to holding land on which there

Deductibility of self-education expenses Self-education includes: (a) courses undertaken at an educational institution (whether leading to a formal qualification or not) (b) courses provided by

There are many myths about deductions that may lead you to make an incorrect claim. Here are some of the most common. Myth: Everyone can automatically

There may be tax consequences if you take or use money or assets from your company or trust for private purposes. There are different ways

In light of the recent changes to interpretations of trust law, it is important to understand all the issues you need to consider when making

The ‘what’ and ‘when’ of TBAR reporting for your super fund What events self-managed super funds (SMSFs) must report by certain dates and what happens

You’re liable to pay Division 293 tax if you exceed the income threshold ($250,000) and you have taxable contributions for an income year. If your Division 293 income

If you do not pay an employee’s minimum superannuation guarantee amount on time and to the right fund, you must pay the superannuation guarantee charge

Directors can prevent insolvent trading by fulfilling their duty to prevent their company from trading while it is insolvent. This includes: Regularly monitoring the financial

Contracting has emerged as an alternative to the traditional employment relationship. A contractor can be engaged directly as a natural person, through a trust, partnership

ARE CHRISTMAS GIFTS & YOUR COMPANY CHRISTMAS PARTY TAX DEDUCTIBLE? With Christmas fast approaching and most Australian businesses starting to give to staff and clients,

To help you get things right, you should consider the behaviours, characteristics and tax issues that attract the ATO’s attention. It’s part of their commitment

Temporary full expensing supports businesses and encourages investment, as eligible businesses can claim an immediate deduction for the business portion of the cost of an

It may seem simple, but is it really? The key aspect of an employment relationship is “control”. A subcontractor, on the other hand, undertakes the