The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs). In general, access to...

Generational succession - handing your business across to your kids or family - sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and...

The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst. The average price of a home in NSW is $1,184,500, the highest in the country. Canberra is next...

The ATO is cracking down on business owners who take money or use company resources for themselves. It’s common for business owners to utilise company resources for their personal use. The business...

Are “wash sales”, a capital idea? The ATO doesn’t think so. What you need to be aware of. Let us share with you an old, but still compelling, short story. Back in 1998, a taxpayer (Mr. X) thought it...

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high...

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative Appeals Tribunal demonstrate how serious the...

The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero....

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as...

It’s not too late to claim the small business skills and training boost.   If you are a small business owner and paying for your employees external training, you could be eligible to claim the...