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…
Succession Plan: Passing it on to the Next Generation
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…
Sub-Divisions & Tax Implications
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…
Top 5 Considerations When Refinancing Your Home Loan
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 Budget Overview: 2023-24
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…
Investment Outlook: Autumn
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…
Team Q&A: Polly Parrott
This month we caught up with tax and accounting specialist Polly Parrott. Born in Ballarat, Polly joined PPT in 2014 after finishing high school and now helps client with tax returns, BAS and financial statements.…
