Our Insights

White electric car being charged at a station
With fuel prices on the rise, along with a global environmental awareness, the electric vehicle market in Australia has seen an exponential growth. For small business owners where business vehicles are a common asset with sizable deductions, it is important to know the differences between what can be claimed for a motor vehicle (MV) and
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Salary Packaging

Salary Packaging provides you with a method of using pre-tax funds to pay for certain items with an eligible employer. If you work for a public benevolent organisation, you may be eligible for this benefit (e.g. Public Health, Research Institutes, etc.) What are the benefits Instead of your income being taxed, coming to you, and
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With the end of the financial year upon us, it’s a good time for rental property owners to look at different types of rental expenses and deductions. This can help to avoid common tax mistakes and save you time and money. In 2019–20, over 1.8 million Australians owned rental properties and claimed $38 billion in
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Do you own an investment property or are you looking to acquire one? Have you considered what return this investment may yield?   If you are considering property as an investment, or if you currently own one, you may have already wondered what returns you might expect from your investment. One simple way to measure
Person wearing a white shirt writing the words tax tips onto a blackboard with white chalk next to a drawing of a light bulb.
As we move towards the end of financial year, it becomes important to look at your tax planning and ways that you can maximise your tax savings. These tax planning tips for individuals and businesses will help you cover off some important considerations before the end of the 2021-2022 financial year.   RECORD KEEPING Taxpayers are required
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Your team are the lifeblood of your medical practice and a key element to the success of your business. When commencing the process of employing staff, there are many factors that must be considered to prepare your business for the recruitment process and to manage the ongoing payroll and employment demands with ease, whilst still
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In the world of investing, you may hear various levels of investors referred to as wholesale, sophisticated investors or retail investors in relation to a particular financial product or service. But what does that mean, how can you determine which you are and what are the benefits of each? In this article, Carolyn Duffy, Investment
A keyboard with wooden blocks on top that spell Budget 2022
The 2022-23 budget was handed down this week by Federal Treasurer Josh Frydenberg which encompassed the economic stability Australia is experiencing as it rebounds from the COVID-19 pandemic. Significant tax and productivity reforms were low on the agenda with focus mainly on key spending measures and continuing Australia’s post-pandemic, natural disaster and conflicted international environment
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It’s Fringe Benefits Tax (FBT) time again and this FBT year will end on 31 March 2022. If you provide your employees with a benefit other than salary, wages, bonuses and superannuation, it’s likely you are providing Fringe Benefits to your employees. You could also be providing benefits under tax law, to employees’ family and
Woman doing tax paperwork with a calculator and a cup of coffee on a deask near a computer keyboard
From 1 July 2016 investors have been able to benefit from the Early-Stage Innovation Company (ESIC) incentives for qualifying investments.  The tax incentives available are: A non-refundable carry forward tax offset of up to $200,000 in any one income year Capital Gains Tax (CGT) exemption or reduction on eligible investments.   Qualifying for the tax
The first 7 days of the recent weather event throughout South-East Queensland saw over 15,000 homes affected by flooding, which has sadly greatly increased as the weather cell continued to move south through New South Wales. QLD and NSW residents have experienced considerable losses of homes, cars, and personal items, with tax records among these
2021 was a busy year for the superannuation industry, and no doubt as we head to a federal election superannuation will again be a hot topic. A few weeks ago, Federal Parliament passed new legislation to be effective from 1 July 2022 which will provide additional attractive concessions for members of superannuation funds. We discuss these
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