The Australian Taxation Office (ATO) recently announced that businesses will no longer be able to claim tax deductions for ATO interest charges from 1 July 2025. This applies to the General Interest Charge (GIC) and Short Fall Interest Charge (SIC). So, what does this mean? GIC or SIC starting on or after 1 July 2025…
MINIMISE YOUR BUSINESS TAX 2026 TAX PLANNING GUIDE Imagine what you could do with tax saved? You could: Reduce your home loan Top up your super Save for a holiday (when we can travel again!) Deposit for an Investment Property Pay for your children’s education Upgrade your Car Here’s a guide to…
Do you run a business from home? Running a home-based business offers a number of advantages including convenience, flexibility, freedom and cost savings. It’s great for looking after the kids, and also for starting out your business when you can’t afford separate premises. And when it comes to your tax return, you may…
Small businesses in Australia currently have a tax debt of over $ 35 billion with the Australian Taxation Office (ATO), a number which has been increasing, and indicates the challenges small to medium businesses face with tax compliance. Unfortunately, confusion surrounding tax obligations can result in incorrect tax returns and a failure to meet…
Top Ten Estate Planning and Family Wealth Protection Resolutions Now is an important time to prioritise your estate planning and family wealth protection. Making these resolutions now can provide you with a sense of achievement and relief from the weight of uncertainty. Here are the top ten resolutions you should start on immediately to…
Top 5 scams to beware! Businesses need to ensure they have effective cybersecurity measures in place ahead of the peak season for scams. After a year that saw breaches to some of the largest financial institutions and businesses in Australia, the holidays are set to see a significant rise in cybercrime, warns Chris Dahl,…
How wealthy are you? Take the test and see… Wealth can be measured subjectively, or objectively. What does this mean? Wealth creation expert and author of Money Magnet: How to Attract and Keep a Fortune that Counts, Steve McKnight explains. Take Wayne for example. He pegs his wealth subjectively, based on what his friends seem to have (or…
Tax Planning Starts Now 30 June will be here before we know it. With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2026 to reduce your tax and grow your wealth. With the upcoming 2026 Federal Budget in…
6 savings strategies you should follow (but probably don’t) THE HIP POCKET Which savings strategies are you currently using? None? It’s definitely time for a rethink! By Tim Whitehead It’s three days before pay day and the only things left in your wallet are a couple of faded receipt stubs and a crumpled coffee rewards…
Changes to the way you claim working from home deductions are set to impact millions of taxpayers, particularly the small business community of solopreneurs, freelancers and contractors who conduct all or part of their business from home. The Australian Taxation Office (ATO) has changed the way that taxpayers claim deductions for costs incurred when…