Insights

For businesses managing a vehicle fleet, or using fuel for business activities, the Fuel Tax Credits scheme can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that's included in the price of fuel.

For businesses managing a vehicle fleet, or using fuel for business activities, the Fuel Tax Credits scheme can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that's included in the price of fuel.

In today’s digital landscape, small and medium enterprises (SMEs) are becoming prime targets for cybercriminals. As businesses embrace new technologies to streamline operations and enhance customer engagement, they also expose themselves to a greater risk of cyberattacks. Unfortunately, for many SMEs, even a small cybersecurity incident can have devastating effects.

Effectively managing cash flow is the difference between a thriving business and one struggling. One of the most effective ways to aid this is to manage the accounts receivable outstanding to the business and ensure they are paid in a timely manner.

In news announced recently, the current Queensland Labor Government has announced it will match the Liberals commitment to scrap the proposed legislation that was due to commence 1 July 2025, after the current amnesty ends.

While technology is racing and your job requires you to stay on top of your game, have you wondered whether the costs of seminars, conferences and other self-educational expenses are deductible?

In recent months we have been contacted by the ATO in respect of margin scheme calculations for our clients when an activity statement has been lodged. They have asked for copies of the contract to confirm the margin scheme has been correctly stated. They have also asked for calculations that confirm the GST component when a refund is owed back.

The subdivision of land has been a prominent topic throughout 2024, particularly with the increasing demand for housing in the Australian property market. A shortage of land in desirable locations, such as areas close to city centres, shopping hubs and popular schools, has led many property owners and investors to consider the option of subdividing land as a way to maximise the value of their properties.

Are you aware of the ATO Reporting Requirement due 28 August each year?

For operators within the Building & Construction industry, adhering to regulatory compliance and financial reporting is crucial for meeting the requirements set by the Queensland Building and Construction Commission (QBCC). This ensures the ongoing validity of the QBCC licence and the ability for businesses to complete existing work and undertake new projects.