General
Transfer balance cap indexation
Posted by Todd Hodkinson on March 5, 2023
An individual’s transfer balance cap (‘TBC’) determines the maximum amount they can commit to a retirement phase interest in their super fund, such as an account-based pension, without being subject […]
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General
Significant change to claiming working from home expenses
Posted by Todd Hodkinson on March 5, 2023
Before 1 July 2022, an individual taxpayer that incurred additional deductible expenses as a result of working from home, had a choice of three methods to claim these expenses. These […]
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General
Pheonix Taskforce – targeting dodgy businesses
Posted by Todd Hodkinson on February 2, 2023
The Australian Taxation Office (ATO) has been working hard to combat illegal phoenix activity through the Phoenix Taskforce. This taskforce, which was established in 2014, brings together federal, state, and […]
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General
Protect your business from cyber scams
Posted by Todd Hodkinson on February 2, 2023
Cyber scams are becoming an increasing concern for small businesses, as fraudsters try to steal money by tricking companies into sending them payments. One of the most common scams is […]
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General
Are you changing your business structure?
Posted by Todd Hodkinson on February 2, 2023
Changing your business structure can have significant impacts on your business operations and financials, and it is important to consider all factors before making a decision. If you are changing […]
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General
Are you still using your ABN?
Posted by Todd Hodkinson on February 2, 2023
When it comes to inactive ABNs, the Australian Taxation Office (ATO) is strict in making sure that all registered business owners have a valid and active ABN. An ABN is […]
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General
Employee for super guarantee purposes?
Posted by Todd Hodkinson on February 1, 2023
When it comes to making super guarantee contributions for your workers, it is important to understand who is considered an “employee” for these purposes. The rules for determining this may […]
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General
PAYG withholding – employee or contractor?
Posted by Todd Hodkinson on February 1, 2023
As a business owner, it is important to understand the difference between employees and independent contractors. The distinction between the two can have a significant impact on your obligations and […]
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General
Hiring contractors
Posted by Todd Hodkinson on February 1, 2023
When it comes to hiring workers, you have two options: employees and contractors. Both have their own unique conditions, but it’s crucial to make sure that the working contract aligns […]
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General
WHAT’S IN THE PARLIAMENTARY PIPELINE?
Posted by Todd Hodkinson on February 1, 2023
Here’s our summary of the business and tax related things that are in Parliments pipeline at the start of 2023. Bonus deductions for small and medium business Legislation presently before […]
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