Tax

Cars will need to be twice as green to avoid luxury tax

13 December

Motorists will have to choose cars that use half as much fuel to avoid a vehicle tax in future after changes in a federal budget update. The Luxury Car Tax reforms, announced in the government’s mid-year budget on Wednesday, will mean only...[Read More]

Tried-and-Tested Tax Planning Strategies for Small Businesses

7 December

Every dollar counts in business, especially for small enterprises. Therefore, you need to find ways to minimise your tax liability in addition to optimising income or profit. With a small business tax planning strategy, you can increase profits...[Read More]

Taxpayers cop fines after using unregistered tax agent

13 December

An unregistered tax accountant exposed her clients to fines and unexpected tax bills after unlawfully lodging hundreds of returns filled with dodgy deductions. Perth-based Jessa Van Stroe, who is also known as Jessa Layola, was not registered with...[Read More]

Taxpayers to stop funding global fossil fuel projects

6 December

Australian taxpayer dollars will no longer fund international fossil fuel projects, after the government signed on to a global shift towards renewable energy. The government signed on to the Glasgow Statement at the United Nations climate change...[Read More]

Tax Matters Spring 2023 Edition

29 November

To view our Tax Matters Newsletter please click the link below. Tax Matters Spring 2023 Edition

Creating a better business with cloud accounting

23 November

Does your company still use desktop software or spreadsheets for accounting tasks? If so, then it could be time to upgrade to a cloud-based accounting system. In comparison to on-premises solutions, cloud accounting for small businesses offers...[Read More]

Labor deal with Greens to pass vacant homes tax reforms

29 November

A deal to strengthen taxes on empty homes has been struck between the Victorian government and the Greens. An upper house vote on changes to Victoria’s vacant residential land tax was put on ice earlier this month when the Greens and the coalition...[Read More]

Are you providing entertainment this holiday season?

15 November

With the holiday season on the way you may be planning to celebrate with your staff. Before you hire a restaurant or book an event, make sure you work out if the benefits you provide your employees are considered entertainment related, and therefore...[Read More]

Big Four consultants face ban from tax regulator board

8 November

Partners from the Big Four consulting firms could be banned from serving on the board of the tax advisory regulator, in the first legislative move against the companies since the PwC tax scandal. After securing government agreement, the Greens will...[Read More]

Consultations are underway for changes to superannuation

25 October

From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages. Currently, employers are only required to pay their employees’ super quarterly. These changes to payday super were...[Read More]

Airbnb pushes for hotels to be hit with short-stay tax

11 October

Airbnb has called for a contentious Victorian tax on short stays to be expanded to all accommodation bookings, including city hotels. The state government last month announced an Australian-first, statewide levy on short-stay providers like Airbnb...[Read More]

Cyber security: don’t set and forget

18 October

Cybersecurity should not be a set and forget function for businesses and we recommend you check your security monthly. Throughout 2021–22, one cybercrime was reported every 7 minutes to the Australian Cyber Security Centre (ACSC). To avoid being...[Read More]

Managing Finances and Lifestyle Activities Across the Four Phases of Retirement

2 November

Retirement is a complex period divided into various phases, each with its own set of financial requirements and lifestyle considerations. Understanding how to budget for each stage can help you make the most of your post-career...[Read More]

Labor unveils super tax tweaks on big balances

4 October

The number of Australians with super balances in the hundreds of millions has been expanding quickly as the federal government prepares to tighten tax breaks for wealthy retirees. The Labor government committed to halving tax breaks for those with...[Read More]

Tax on empty homes and vacant land to free up housing