10 Mar, 2022

COVID-19 tests may be deductible?

The government has proposed to make COVID-19 tests, both rapid antigen and polymerase chain reaction tests, tax deductible for individuals where they are purchased for a work-related purpose. It has…

25 Feb, 2022

Overview of small business CGT concessions

Recently, the ATO has noticed that some larger and wealthier businesses have mistakenly claimed small business CGT concessions when they weren’t entitled. By incorrectly applying the concessions these businesses were…

9 Feb, 2022

IP insurance in super: beware of offsets

In Australia, around 7 out of the 20 largest MySuper products provide default income protection insurance on an opt-out basis. While income protection insurance has the advantage of providing individuals…

3 Feb, 2022

More COVID support for business: NSW, SA, Vic

The State governments of NSW, South Australia (SA) and Victoria have introduced new measures and/or extended existing measures to help the businesses in their respective States survive the disruption caused…

27 Jan, 2022

Are cryptocurrency losses from scams deductible?

As investing in cryptocurrency becomes more popular in Australia, there is also a corresponding increase in the amount of scams being reported. Due to the unregulated nature of cryptocurrency and…

10 Jan, 2022

Service NSW scrutinising micro-business grants

Businesses in NSW that have received micro business grants beware. Service NSW and the NSW police have formed a joint taskforce to investigate “fraudulent applications”. Additionally, in response to anomalous…

20 Dec, 2021

Up and coming changes to super

Recently, a number of significant super changes has been introduced into Parliament as a part of the government’s plan to enhance super outcomes for Australians. If passed, the changes will…

7 Dec, 2021

Why Every Small Business Needs An Accountant?

One of the biggest dilemmas small business owners face is where to invest and where to cut down cost. To save money, small business owners try to manage everything by…

1 Nov, 2021

Deadline for Director Identification Number applications

Directors of companies will soon have to enrol in the Director Identification Number regime. This requires that current and future directors apply for director identification numbers (DIN) which will be…

26 Oct, 2021

COVID-19 relief for SMSFs extended

SMSF trustees will have various relief applied for another year, due to the ongoing effects of the COVID-19 pandemic. The relief relates to residency requirements, related party rental relief, loan…