Articles

Clock with Tax time post-it on table

Tax Time Targets – 2022

The ATO has flagged four priority areas this tax season where people are making mistakes. With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season. Record-keeping Work-related expenses Rental property income and deductions, and Capital gains from crypto assets, […]

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The 120% deduction for skills training and technology costs

It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the […]

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What’s changing on 1 July 2022?

A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up: For business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each year until it […]

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Budget 2022-23: Don’t Rock the Boat

This is a safe, ballot box friendly Budget as expected with a focus on jobs, cost of living, home ownership, and health. Key initiatives include: A 6 month, 50% reduction in fuel excise with effect from midnight Budget night A $420 cost of living tax offset for low and middle […]

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Budget 2022/2023: For you & your family

This is part of our series on the 2022/2023 Budget: See Overview Temporary reduction in fuel excise From: 12.01am – 30 March, 2022 There are a few jokes going around social media about the price of fuel. As widely predicted, the Government will temporarily reduce the excise and excise-equivalent customs […]

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Budget 2022/2023: For business & employers

This is part of our series on the 2022/2023 Budget: See Overview $120 deduction for every $100 spent on technology From: 7:30pm AEDT, 29 March 2022 until 30 June 2023 The Government intends to provide a 120% tax deduction for expenditure incurred by small businesses on business expenses and depreciating […]

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Budget 2022/2023: Education, skills & training

This is part of our series on the 2022/2023 Budget: See Overview $120 deduction for every $100 spent on skills and training From: 7:30pm AEDT, 29 March 2022 until 30 June 2024 The Government intends to provide a 120% tax deduction for expenditure incurred by small businesses on external training […]

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Budget 2022/2023: The government & regulators

This is part of our series on the 2022/2023 Budget: See Overview Visa rule changes The pandemic has created a scarcity of labour. As a result, the Government is relaxing certain work restrictions for a range of visas including eligible Student and Working Holiday Maker (WHM) visa holders, and extended […]

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Budget 2022/2023: The economy

This is part of our series on the 2022/2023 Budget: See Overview Australia’s unemployment rate is at 4%: the lowest rate in 48 years. Amid the ongoing COVID 19 pandemic and natural disasters, the Australian economy has outperformed all major advanced economies, experiencing a stronger recovery in output and employment […]

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