Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian Taxation Office estimates – a figure the Government and the regulators are looking to dramatically change. Superficially, the statistics on employer…
The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue. A big part of the problem is how taxpayers are claiming interest…
Legislation currently being debated in Parliament will introduce a new criminal offence for intentional “wage theft”. If enacted, in addition to the criminal offence, a fine will apply. The fine is three times the underpayment…
Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges businesses towards energy efficiency. We show you how to maximise the deduction! The small business energy incentive is…
We recently sat down with Senior Accountant Tiarne Wealands. Born and bred in Ballarat, Tiarne joined the team in early March 2022 after working for several local accounting and financial services firms in the Ballarat…
What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the…
You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax…
If you have an interest only home loan, its likely your home loan will shortly revert to principal and interest (P&I), which will result in much higher monthly repayments, which will be exacerbated by higher…
Federal Treasurer Jim Chalmers handed down his first Federal Budget on Tuesday night. The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was…
Cracks in the financial system appear as the lagged effects from a rapid succession of interest rate rises expose some vulnerabilities. However, unlike previous episodes of financial distress, this time, regulators appear to be on…
