Business owners have two financial options when it comes to obtaining an asset for their company. And like anything in finance, these two monetary alternatives each have their advantages and disadvantages. Let’s look into what each option involves: Buying When you purchase something from a seller, you officially own the item (or the bank does…
The crackdown is well underway as the ATO intends to target 600,000 Aussie taxpayers who have invested in cryptocurrencies and may have omitted CGT events. Crypto joins property and share trading as key CGT areas for the 2021 tax year. As the explosion in crypto investment ramps up and FOMO kicks in, this year alone…
Every financial year ends are busy ones for all financial service and accounting businesses. As much as we try to avoid it, there always seems to be last-minute transactions to process and tax planning advice required. Throw in some nationwide Covid lockdowns – and it takes the last-minute rush to the next level. A lot…
Every tax claim you make has the ability to boost your return. But to be a legal claim, it must be directly connected to you earning assessable income. Plus you must have incurred the expenditure and not been reimbursed by your employer. But, did you know the following Five Facts about …… Did you know…
Rental property owners beware, the ATO has commenced 2 data-matching programs designed to obtain a myriad of information to ensure that various income tax reporting obligations have been met. Specifically, the ATO will run a new data-matching program to collect property management data for the 2018-19 to 2022-23 financial years, and extend the existing rental…
The Commonwealth and New South Wales governments yesterday announced a joint package of support measures. The measures will also be available for other states and territories. The goal is to support business cashflow and households to get them through extended lockdowns. The measures are targeted, and intended to be rolled out as quickly as possible. …
