Blog

We all want to avoid an audit by the tax office; even if the ATO finds everything is in order, for businesses, in particular, an audit can mean lost time and money. There’s really no way to completely avoid the…

Following the release of the 2016 Federal Budget, some people are predicting that Australian is set to become a world leader in digital financial transactions, most notably ‘Bitcoins’. Bitcoins? Bitcoins are a digital currency – if you want the specific…

If you haven’t already, now is a great time to prepare for the end of the financial year. You might find that you are able to identify some extra payments or donations that would be worth making before June 30.…

We’ve heard a lot of debate about ‘negative gearing’ in Federal Parliament – and the media – recently. This has left many people wondering just what the fuss is all about. What is negative gearing? Basically, negative gearing is when…

Changes effective 1 July 2018 (i.e., 2018/19 income year) 1.1 Targeted amendments to Division 7A From 1 July 2018, the government will make targeted amendments to improve the operation and  administration of Division 7A of the ITAA 1936, as a…

Changes effective 1 July 2017 (i.e., 2017/18 income year) 1.1 Applying GST to low value goods imported by consumers From 1 July 2017, GST will be extended to low value goods imported by consumers. The intent of this  measure is…