Recent News
Buying property through your Self Managed Super Fund
There is still a lot of uncertainty around the future of our property market. Most forecasters are predicting a drop in property prices, but by just how much is still unknown. Whilst property only makes up around 13% of the total estimated...
Jobkeeper
The last few months have been an intense period of survival for many business owners, and it’s not over yet. This next phase will be one of inevitable scrutiny, particularly around JobKeeper entitlements. Here’s what you need to know. Errors in...
Early access to Super
As at the end of June 2020, Australian’s had accessed $25billion in early access Super, a Government scheme put in place to help people financially affected by the ongoing Coronavirus Pandemic. When the scheme first opened back on April 20,...
The Australian Government HomeBuilder Grant – what you may or may not know
If you’ve been thinking of building a new home, you’ve probably heard about the HomeBuilder Grant, currently offered by the Morrison Government; a $25,000 grant to put towards a new build or a renovation. If you’ve never owned a home before, you’re also eligible for...
Returning to work
Developing your ‘Return to Work’ plan needs to include more than just hand sanitizerFollowing the Government’s 3 Step Framework released on 8 May 2020, many employers who have had their business closed or restricted during the COVID-19 period are working out a...
The $150,000 Asset Write-Off: What you need to know before buying that new BMW
The ATO recently announced an extension to the $150,000 Instant Asset Write-Off, up until 31 December 2020. The write-off allows businesses to write off any asset up to the value of $150,000 as an immediate deduction instead of depreciating it. As a rule, if an asset...
When is Entertainment Tax Deductible?
As an employer, you might find yourself taking your team out for lunch from time to time, participating in team leisure activities, or purchasing a gift for an employee. Did you know that some entertainment is tax deductible? In this article, we look at what we mean...
New Home Office Guidelines released by the ATO
With more and more people working from home, the ATO has announced a temporary short cut method to make it easier for individual taxpayers to claim deductions for additional ‘at-home’ running expenses (please refer to the ATO’s Media Release of 7 April 2020). During...
SMSFs and rent relief due to COVID-19
SMSFs that own property are facing the prospect of tenants falling behind in their rent payments and their other obligations under the lease due to the economic stress arising from COVID-19. These times are somewhat unfamiliar to most trustees of Funds and have not...
Should you withdraw from your SMSF during COVID-19?
The Federal Government recently announced it would allow those affected by COVID-19 to access some of their superannuation balances early. How much super can you access? Per the government’s stimulus package announcement - the full details of which can be found here -...
COVID-19 New Release measures 30/03/2020
Jobkeeper Payments Under the JobKeeper Payment, businesses impacted by the coronavirus will be able to access a subsidy from the Government to continue paying their employees. The subsidy will be paid through the tax system by applying to the ATO. Affected employers...
Responding to the COVID-19 Crisis: SMEs
Responding to COVID-19 SMEs