by Cassie Hamilton | Apr 29, 2024 | Articles, Updates
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 was a capital idea to transfer a parcel of shares, which had...
by Cassie Hamilton | Apr 24, 2024 | Articles, Updates
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 value business apart? Every business owner is naturally curious about...
by Cassie Hamilton | Apr 24, 2024 | Articles, Updates
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 Australian Taxation Office (ATO) is about making sure professional...
by Cassie Hamilton | Apr 24, 2024 | Articles, Updates
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. According to election guru Antony Green, the window for the next...
by Cassie Hamilton | Apr 24, 2024 | Articles, Updates
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 having the same value for three consecutive years. With many of these...
by Cassie Hamilton | Mar 26, 2024 | Articles, Updates
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 skills and training boost. One of the key motivators for employee...
