News

Can my SMSF invest in property development

The lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems that often occur

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The Redesigned Stage 3 Personal Income Tax Cuts

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government

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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

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Quote of the month

“…no matter what life throws at you, seek out opportunities to contribute, to participate and to action change….have a crack, and as I like to say, don’t just lean in, leap in.” Joint Australian of the Year 2024 Richard Scolyer

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The problem when the evidence doesn’t match what the taxpayer tells the ATO

A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking

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Congratulations to our two Award Finalists for the upcoming 2024 Count National Conference

We are thrilled to share that two outstanding members of our team, Pravneel and Evan, have been nominated for awards at the 2024 Count National Conference! 

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Workers owed $3.6bn in super guarantee

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

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Up to 10 years in prison for deliberate wage 'theft'

Legislation currently being debated in Parliament will introduce a new criminal offence for intentional “wage theft”

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Fixed-term employment contracts limited to 2 years

From 6 December 2023, employers can no longer employ an employee on a fixed-term contract as part of the Pay secrecy, job ads and flexible work amendments

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When is food GST-free?

Chobani plain yoghurt is GST-free but Chobani’s ‘flip’ range is taxable? A recent case before the AAT demonstrates how fine the dividing line is between GST-free and taxable foods

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Warning: Redrawing investment loans

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 on their investment property loans

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Quote of the month

“Do your little bit of good where you are; it's those little bits of good put together that overwhelm the world.” Desmond Tutu, Anglican Bishop and theologian

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