Cyber criminals are becoming increasingly sophisticated, and tax professionals and businesses are being targeted more frequently through emails, links, attachments and other online communications.
Each year, many companies may receive letters or emails regarding their annual company review and ASIC renewal fees.
In our last update, we outlined the six key things every business needs to know about the upcoming Payday Super changes from 1 July 2026.
Tuesdays Federal Budget, delivered by Jim Chalmers, included some of the most significant proposed tax changes seen in Australia in decades.
The Federal Government’s proposed Division 296 superannuation tax has now passed the Senate, with the legislation approved by a vote of 33 to 22.
The Federal Government’s proposed Division 296 superannuation tax has now passed the Senate, with the legislation approved by a vote of 33 to 22.
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When you spend money on your rental property, not all expenses are treated the same for tax purposes. Some can be claimed straight away, while others need to be spread out over time. Getting this right is important to ensure you maximise your deductions and stay compliant.
The general interest charge (GIC) and shortfall interest charge (SIC) imposed by the ATO will no longer be tax-deductible. This change will increase the overall cost of carrying a tax debt, making it more important than ever for you to stay on top of your obligations.
The Budget leans more toward political announcements than it does toward meaningful structural reform in tax, superannuation, or other major policy areas.
In 2024, Australians reported losses exceeding $319 million due to various fraudulent activities and we have outlined the most prevalent scams from the past year and emerging threats to be vigilant about in 2025.
In today’s dynamic business environment, effective cash flow management is essential for the sustained growth and resilience of small and medium enterprises (SMEs).
It’s that time of year, where the festive season has us all digging deep into our pockets to give generously to charities and to those around us. While just about every employer puts on a Christmas party or celebration of some sort for their staff, they may be unaware of
No one wants to be audited and we have no reason to suspect you will be. But did you know that the ATO raised an additional $16.9 billion in the 17/18 financial year through increased audit activity? Data matching capabilities are profound, and with unprecedented access to taxpayer records from
The Government has recently legislated significant changes to Company Director Penalties. These changes have been introduced in an attempt to discourage corporate and financial sector misconduct. Key changes include, expanding the penalty regime to a wider range of scenarios and introducing harsher penalties for offences. Another area where the Government
Consider Innovative companies – your mind goes to Apple, Samsung & Google. These major tech companies are generally your first thoughts when it comes to innovation. Here in Far North Queensland (FNQ), our farmers and primary producers are also very active with developing their own innovative practices. Recent years have
Welcome to Financial Year 2020! The 1st of July not only signals the commencement of a new year, but is also a date for the commencement of many significant legislation and tax changes. Budget announcements, superannuation changes and minimum wage increases are common topics we are queried on at this
Helpful links to STP Help Notes for Accounting Software, including MYOB | XERO | QB Online | Reckon Hosted
We all know that planning for the future is important, but it’s especially crucial when it comes to helping secure our family’s financial future. While the end of financial year gives everyone the opportunity to review their 2019 tax year and business owners the chance to look at their business
With just weeks to go until it’s tax time again, now is the perfect time to plan and review your 2019 tax year so there are no surprises awaiting you. We explain some areas of your business that you should consider in order to get the best tax outcomes possible:
The technology around us is rapidly changing, and we are starting to witness a strong emergence of Artificial Intelligence (AI) and automation in our day to day lives. Consider some of the below and how they have evolved: Supermarket Checkout – now in the form of Self-service Transport – Driverless
Single Touch Payroll – what is it and why does everyone seem to be panicking about it? Single Touch Payroll (STP) is an ATO initiative which requires employers to lodge payroll information online with the ATO. That’s it – no hidden surprises. Employers already report payroll information – weekly, monthly
All North Queensland small businesses know the start of the year always creates a cash crunch. A combination of the holiday break, a slow start to the year and the wet season often sees a reduction in timely debt recovery impacting all businesses. There are however, a few easy to
Benefits of record keeping A common question we are asked by clients is….. How long do I need to keep my records for? While we have the mindset that we just need to keep records to satisfy ATO audit periods, there are many other reasons why keeping good records is