by Financially Sorted | Oct 28, 2024 | Economy, Small Business, Tax & Accounting
This tax season has seen many of our clients expressing concern about cashflow. Many small business owners are finding the cost of doing business more expensive and cashflow is a key concern. There are some key areas to focus on if you are finding cashflow...
by Financially Sorted | Sep 24, 2024 | ATO, Tax & Accounting, Tax Returns
Do you currently own an investment property or an expensive lifestyle asset like a boat or aircraft? The ATO are looking closely at these assets to see if what has been declared in your tax returns matches up. The ATO has initiated two data matching programs impacting...
by Financially Sorted | Sep 24, 2024 | ATO, Tax & Accounting, Tax Returns
Generally, a gift of money or assets from an individual is not taxed if the gift is given voluntarily, and nothing is expected in return. However, there are some circumstances where taxes may apply. Gifts from a foreign trust If you are a tax resident of Australia and...
by Financially Sorted | Sep 24, 2024 | Business, Small Business, Superannuation, Tax & Accounting
Beyond the emotional and financial turmoil that any divorce creates, there are a number of issues that need to be resolved. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid...
by Financially Sorted | Sep 24, 2024 | Interest Rates
Over the past few weeks, the politicians have weighed in on the Reserve Bank of Australia’s economic policy and their resistance to reduce interest rates in the face of community pressure. We look at what the numbers are really showing. Australian mortgage holders and...
