The top Christmas party questions
What can I do to make the staff Christmas party tax deductible or tax-free? Not have one? Ok, seriously, it’s likely that you will pay…
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Author: adam galea
What makes or breaks Christmas?
The cost of living has eased over the past year, but consumers are still under pressure. For business, planning is the key to managing Christmas…
The Ban on Genetic Test Insurance Discrimination
The ability for life insurers to discriminate based on adverse predictive genetic test results will be banned under a new Government proposal. Predictive genetic tests…
It wasn’t me: The tax fraud scam
You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of $100k…
When is a Gift not a Gift? Avoiding the Gift Tax Trap
The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan…
What’s ahead for FY 2024-25?
Will 2024-25 be another year of volatility or a return to stability? Here’s what you can expect in the new financial year as a business…
The Essential June 30 Guide
The end of the financial year is fast approaching. Here are the areas at risk of increased ATO scrutiny and the opportunities to maximise your…
Company Money Crackdown
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…
Warning on SMSF Asset Valuations
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…
The Fringe Benefit Tax Traps
The Fringe Benefits Tax year (FBT) ends on 31 March. These are the problem areas likely to attract the ATO’s attention. Electric vehicles causing…