by kirstyb | Jan 31, 2025 | ATO, Property Investment, Tax & Accounting, Tax Returns
Records of around 2.2 million landlords, tenants and property managers will be used to track down underreported income by the ATO. The ATO is ramping up its scrutiny into millions of landlords’ tax affairs to catch those who fail to lodge income tax returns and who...
by kirstyb | Nov 25, 2024 | Tax & Accounting
Beyond the difficult task of dividing up your assets and determining who should get what, it’s essential to look at the tax consequences of how your assets will flow through to your beneficiaries when you are gone. When assets pass from a deceased individual to a...
by kirstyb | 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 kirstyb | 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 kirstyb | 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 kirstyb | 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...
