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The Green Box Exercise
By Peter Locandro, Financially Sorted CEO As the saying goes there are two certainties in life... death and taxes. So how do we lessen the burden of both on those we leave behind? Unfortunately, through the recent loss of a long-time friend, I was introduced to the...
Update Your Financial Affairs Before It Matters Most
By Peter Locandro, Financially Sorted CEO Picture this: something unexpected happens, and your family is left trying to piece together your finances — your home, your super, your accounts, your intentions. Not because anything went wrong but simply because you didn't...
Holiday Homes Under ATO Microscope
For many Australians, a holiday home acts as two things. It’s a place to escape with family and friends, especially during the summer holiday months and the rest of the year it’s listed as a holiday rental for others to enjoy to help cover the costs. Until recently,...
Why ATO compliance feels different
Over the past 12 months, I have found myself having the same conversation with business owners again and again. It usually starts with a variation of “It feels like the ATO is more active than it used to be” or “The ATO has never asked for things like that” or “The...
ATO clarifies who can have interest charges reduced or removed
The Australian Taxation Office (ATO) has released new guidance explaining when it may reduce or cancel the General Interest Charge (GIC). The GIC is the interest applied to unpaid tax debts after the due date. This update provides useful clarity on when relief may be...
SMEs to feel the pinch as CPI spikes
Following December’s spike in inflation & the recent rise to interest rates, economists are warning small businesses to brace themselves to feel the impact. On Wednesday 28 January, the Australian Bureau of Statistics (ABS) released the headline CPI figure, which...
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