The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s never that simple....
There are a series of bonus deductions available to small business in 2023-24, these include the instant asset write-off, energy incentive, and the skills and training boost....
The ATO has warned that it is looking closely at how trusts distribute income and to who....
Take advantage of the 1 July 2024 tax cuts by bringing forward your deductible expenses into 2023-24. Prepay your deductible expenses where possible, make any deductible superannuation contributions, and plan any philanthropic gifts to utilise the higher tax rate....
The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs)....
Generational succession – handing your business across to your kids or family – sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and children are most vulnerable....
The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst....
The ATO is cracking down on business owners who take money or use company resources for themselves. It’s common for business owners to utilise company resources for their personal use. The business is often such a part of their life that the line distinguishing ‘the business’ from their life can be blurred....
