Accountancy & Business Insights

Keep your finger on the pulse with our accountancy & business insights.

Your upcoming tax calendar for December and January It’s that time of the year again, as we approach the end of 2023, please remember to organise your tax obligations this holiday season. Below are the key compliance dates coming up. If

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Safe harbour for applying prior year deferred losses extended PCG 2022/1 allows a safe harbour for taxpayers to apply prior year non-commercial loses to reduce other assessable income, otherwise prevented by div 35 of ITAA 1997. As per

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Top 500 and Next 5,000 Report ATO reviews largest private groups One of the main ways the ATO engages and reviews the largest private groups is through its Top 500 or Next 5,000 program. In that context, the ATO has released its repor

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Rules and entitlements during the end-of-year holiday season The rules on entitlements for public holidays, shutdowns and leave provisions can be confusing. Has your business got a plan for staff annual leave and public holidays? We can

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Payroll tax updates for medical practices Given the high risk of payroll tax audits across the medical and allied health industry, organisations must understand and adapt to the changing payroll tax landscape. Revenue authorities in Que

Anthony Pratt 6/12/23 Anthony Pratt 6/12/23

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Update on the removal of tax concessions for large superannuation balances The federal government has announced its intention to change tax concessional treatment of very large super account balances from 1 July 2025. Individuals with ov

Anthony Pratt 29/11/23 Anthony Pratt 29/11/23

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Age limit changes for downsizer super contributions The age limits for downsizer contributions to super have been reduced. The downsizer contribution rules allow you to put an extra $300,000 (from the proceeds of selling your home) into

Anthony Pratt 27/11/23 Anthony Pratt 27/11/23

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ATO scrutiny on family trust and s.100A arrangements The ATO has finalised a major tax ruling about when distributions from family trusts may be caught by anti-avoidance tax laws. Make sure you are doing the right thing now and in the f

Anthony Pratt 26/11/23 Anthony Pratt 26/11/23

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Your tax guide for parties and presents this Christmas We wish you a safe and relaxing Christmas, and an abundant New Year! Before the festivities begin, ensure you are aware of your tax obligations this holiday season. As we approach C

Anthony Pratt 22/11/23 Anthony Pratt 22/11/23

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Taking care of data regulation and ticking the right compliance boxes Your organisation collects huge amounts of customer data - but how do you keep this data safe? We have 5 simple steps to enhance your data compliance requirements. Yo

Anthony Pratt 21/11/23 Anthony Pratt 21/11/23

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A business budget will help with your financial decision making Having control over your spending and expenses is a key part of good budgeting. Budgeting is about estimating your revenues, projecting your expenses and detailing the all

Anthony Pratt 20/11/23 Anthony Pratt 20/11/23

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The ATO agent nomination process Wondering about the ATO agent nomination process? If you are an existing client, you may not need to do anything. If you are a new client we'll send you information about the steps required to link to us.

Anthony Pratt 17/11/23 Anthony Pratt 17/11/23

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Writing a business plan? Read our guide Your business plan helps to keep the company moving in the right direction. Having that guidance can be a massive benefit to your success as a business. But what elements should you include, and w

Anthony Pratt 17/11/23 Anthony Pratt 17/11/23

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Depreciating Asset - ATO's guidance on composite items The ATO released draft TR 2023/D2 which provides guidance on whether an asset that is made up of a number of parts or components (composite item) is itself a depreciating asset, or w

Anthony Pratt 17/11/23 Anthony Pratt 17/11/23

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Your upcoming tax calendar for November and December With the festive season approaching, please do not forget about your November and December tax obligations for 2023. Here is a list of key tax dates to guide you through your tax oblig

Anthony Pratt 6/11/23 Anthony Pratt 6/11/23

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Payments to help combat inflation and cost of living pressures The new changes give effect to increases in social security rates. A number of social security measures announced in the Federal budget to help Australians combat current in

Anthony Pratt 1/11/23 Anthony Pratt 1/11/23

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