TRANSFER PRICING The ATO has issued a Decision Impact Statement outlining its response to the transfer pricing case of Commissioner of Taxation v Glencore Investment. The taxpayer won the case in the Full Federal Court and the High Court refused…

CRYPTOCURRENCIES The ATO treats cryptocurrency like shares and many other investments, so it is generally regarded as a capital gains tax (CGT) asset. A CGT event occurs when disposing of cryptocurrency. Events can include selling cryptocurrency for a fiat currency,…

2021-22 TAX RATES AND TAX OFFSETS The main 2021-22 tax rate changes and tax offsets are: • The $1,080 low and middle income tax offset (LIMITO) has been extended to this year. • the low income tax offset (LITO) permanently…

BUSINESS TAX NSW RECOVERY PACKAGE On 21 October 2021, the Premier of NSW, The Hon.Dominic Perrottet MP and Treasurer and Minister for Energy and Environment, The Hon. Matt Kean MP, released a joint statement to announce the launch of a…

As a property investor, you might find yourself implementing repairs and renovation work onto a property to ensure that you are maximising its value on the market. However, though both can be claimed on your tax return, it’s of paramount…

There is a proverb that says that it is better to ask for forgiveness than to ask permission. Generally speaking, the idea behind this saying is that if you ask for permission and you do not receive it, then the…

With the demanding conditions that have plagued the retail industry over the past twelve months, business owners need to be aware of all the restructuring options available before it is too late. COVID-19 has unfortunately resulted in reduced foot traffic,…

This year has seen a lot of changes to the rules governing superannuation funds and their own providers by the Federal Government that may have an effect on how you as an employer deal with super. Are you knowledgeable of…

Bookkeeping includes tracking and classifying all the financial transactions in your business. It’s maintaining track of what your business usually spends and what your business gets. These tasks used to be maintained using books and ledgers, for that reason the...

Accounting is one of the important services of any business, be it small or big. Businesses are regularly forced to spend a lot on the accounting department. There are several approaches that a business can take when it comes to...