The impending changes to HELP debts
The Government has moved to put an end to ‘eternal students’ who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt. New lifetime caps on Higher…
ATO launches AirBNB crackdown
The Australian Taxation Office (ATO) has announced a new data-matching program targeting taxpayers earning income from the exploding popularity of short-term rentals available on platforms like AirBNB and Stayz. Utilising information from online platform sharing…
Company tax and franking rate changes
Legislation passed by Parliament late last month introduces a new test that will restrict some companies from accessing the lower company tax rate from the 2017-18 financial year. Across a 3 year period, the company…
Will Australians pay more for a good cause?
In the same month that desperate farmers made headlines preparing to destroy starving flocks and pleading with the public to pay a few cents more for their dairy products, Dick Smith’s nationalistic brand announced its…
When can you take super?
The cash sitting in your superannuation fund can be tempting, particularly if you are short of cash. But, the reality is there are very few ways you can take advantage of your superannuation once it…
$10K limit on cash payments to business
One of the interesting approaches to tackling the black economy in the recent 2018-19 Federal Budget was the announcement of a $10,000 limit on cash payments to business. Unrecorded and untaxed transactions that occur in…
Are you holding back your business?
Overcoming the biggest problems in business often comes down to the simple things. Here are a few simple things you can do to capitalise on your opportunities and reduce your risks. “I didn’t get time…”…
Clothing deductions hung out to dry
The Australian Taxation Office is closely examining work-related clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns. The ATO says that clothing claims are up nearly 20% over the last five years…
Investment Outlook: August
Reporting season kicks off this month. Investors are waiting for a circuit-breaker to finally see the S&P/ASX 200 break out of its trading range. However, elevated valuations and mixed earnings momentum will likely keep the…
Economic Outlook
Australia is now beginning a modest recovery from the very soft growth in household incomes that occurred from 2012 to 2016. This recovery in household incomes is a result of improved commodity prices. These higher…
