Contribution and Withdrawal Rules for Superannuation
The rules around superannuation are complex, and are designed to prevent even the rarest cases of fraud (at the expense of simplicity). You can learn about the rules around contributing into super and drawing money out of super here.
Proposed Changes to “Stage 3” Tax Cuts
Following months of speculation, the Government has announced that it will change the “stage 3” tax cuts that were legislated under the previous Government. This will see higher income earners paying more tax, with a small cut to lower income earners.
ATO Crackdown on Debt
With debt owed to the ATO topping $50b, the ATO is moving into collection mode and the softly-softly approach adopted during COVID is being replaced by a hard-line stance on debt. Find out more here.
Providing Us With Access To Your Accounting File
If you are unsure how to invite us into your accounting file, we have created short videos for each major software piece that you can view here or on our YouTube channel.
Novated Leases – Traps to Look For
You’ve probably heard that novated leases (particularly for a car) can potentially save you tax – but do you know about the traps that can cost you thousands (and even ten thousand or more) and leave you worse off? Keep reading for more info.
New Rules for Claiming Home Office Expenses
Home office expenses will be a target of the ATO this year, and new rules have changed how these are claimed, including increased record keeping requirements that you need to be aware of.