New ATO Guidance: Contractor or Employee
Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes, new guidance from the ATO warns. Where there is…
Interest Rates, Mortgages and Surplus Income
Should people with a mortgage have a greater focus on making extra repayments? The recent history of interest rates (the RBA target cash rate) in Australia makes for interesting reading – until the Melbourne Cup…
Investment Outlook: Summer
A rapidly evolving investment landscape and a year of likely political uncertainty make forecasting difficult in 2024. Morgan outlines three possible scenarios: Economic soft landing involves a modest deceleration below trend in major economies, without…
Team Profile: Sam Bird
We recently caught up with Sam Bird, Superannuation Team Manager, whose diverse professional background and experience play a crucial role at PPT. Q: Can you share your background and where you are from? A: I…
Self Education: What can you claim?
The Australian Taxation Office has released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim. If you undertake study that is connected to…
Workers owed $3.6bn in superannuation
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…
Warning on Investment Loan Redraws
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…
Prison for Deliberate Wage Theft
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…
$20K Business Deduction for Electrification
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…
Team Q&A: Tiarne Wealands
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…
