If you dispose of an asset - property, shares, crypto or NFTs, collectables (costing $500 or more) - you will need to calculate the capital gain or loss and record this in your tax return. Capital gains tax (CGT) does not apply to personal use ass...
Read MoreIt’s that time of year again - what to do for the Christmas party for the team, customers, gifts of appreciation for your favourite accountant (just kidding), etc. Here are our top tips for a generous and tax effective Christmas season:For yo...
Read MoreSuperannuation guarantee increase to 10.5%The Superannuation Guarantee (SG) ratewill rise from 10% to 10.5%on 1 July2022 and will continue to increase by0.5% each year until it reaches 12% on 1July 2025.If you have employees, what this will mean d...
Read MoreThe zinc phosphide rebate for primary producers is now available through the NSW Rural Assistance Authority. Eligible primary producers can apply for a rebate of 50% for the purchase of zinc phosphide, up to $10,000, to provide financial and cash ...
Read MoreThere is often a lot of confusion around claiming deductions in relation to work related travel and use of your personal motor vehicle. This is largely due to the different ways you can claim these expenses. It is important to note that work relat...
Read MoreWhat lockdown support is available to business?If your business has been adversely impacted by the recent lockdown in NSW, support is available but there are limitations. The NSW Government has announced new grants of up to $10,000 for...
Read MoreDate of effect: Losses from the 2019-20, 2020-21, 2021-22 or 2022-23 income years. Companies with an aggregated turnover of less than $5 billion will be able to carry back losses from the 2019-20, 2020-21, 2021-22 and 2022-23 income year...
Read More2% deposit home loans for single parentsDate of effect: 1 July 2021. The Government will guarantee 10,000 single parents with dependants to enable them to access a home loan with a deposit as low as 2% under the Family Home Guarantee. Similar...
Read MoreDate of effect: Assets acquired from 7:30pm AEDT on 6 October 2020 and first used or installed ready for use by 30 June 2023. Businesses with an aggregated turnover of less than $5 billion will be able to continue to fully expense the cost of...
Read MoreThe 2021 financial year has been a whirlwind. With COVID-19 restrictions easing to almost nothing, businesses have learnt to adapt quickly to change. The new rules for temporary full expensing of assets and the write off of all general asset pools...
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