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Tax Tips for Rental Property Owners

Tax Tips for Rental Property Owners

The Australian Taxation Office (ATO) are looking closely at expenses related to rental property including interest apportionment for private expenditure, depreciation for initial repairs and other capital deductions, and borrowing expenses. Avoiding these common...

ATO tax time focus

ATO tax time focus

Every year the Australian Taxation Office (ATO) announces three key focus areas for individual income tax returns for the upcoming tax season. This year the ATO is focused on some common areas where taxpayers make errors on their income tax return: Work-related...

Changes to Super Guarantee Contributions to SMSFs

Changes to Super Guarantee Contributions to SMSFs

A major update to the small business superannuation clearing house (SBSCH) was introduced on 15 March 2024 that potentially impacts businesses being able to make superannuation guarantee contributions into SMSFs. SMSFs must have their bank account registered with the...

Federal Budget 24-25

Federal Budget 24-25

On Tuesday 14 May Treasurer Jim Chalmers handed down the Federal Budget for 2024-25. A Budget surplus of $9.3bn is forecast in 2023-24, but an underlying cash deficit of $28.3bn is expected in 2024-25 (and a $42.8bn deficit for 2025-26). Cost of living has been...

Will A Million Dollars In Superannuation Be Enough?

Will A Million Dollars In Superannuation Be Enough?

How much will you and your family need in retirement? Although the projected growth in the pool of superannuation savings is certainly heading in the right direction, the harsh reality facing those not far off retirement is that they will have nowhere near enough to...

Land Tax

Land Tax

Navigating the intricacies of Land Tax can often feel challenging for property owners.  As jurisdictions impose varying regulations and rates, understanding your obligations can be a daunting task. With concerns mounting over escalating land tax liabilities, it is...

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