We provide our expert opinion, news, and knowledge to help keep you informed and aimed towards building your business.

ATO Scrutiny of Professional Services: Understanding PCG 2021/4

Apr 11, 2024

The ATO has been concerned about arrangements involving individual professional practitioners who redirect their income from an activity or business that includes their professional services to an associated entity where it has the effect of significantly reducing your tax liability.

Fringe Benefits Tax (FBT) Changes 2024: What SMEs Need to Know

Mar 27, 2024

As we approach the end of the Fringe Benefit Tax year for 2023/24, it is important for SME businesses to continue to maintain obligations ahead of the 31 March Year-End date.

Healthcare Challenges: Payroll Tax, Personal Services Income & AI

Mar 22, 2024

For my Insights advisory article dedicated to the Healthcare sector, I wanted to speak specifically about the challenges many medical and allied health practices currently face.

Essential Guide to Starting Your Own Medical Practice in Australia

Mar 13, 2024

Starting your own practice can be a rewarding but complex endeavour that involves careful planning and execution. It allows you to have greater control over your career and patients, however, it can become overwhelming when trying to understand all the legal and financial considerations. Below we set out some key steps when starting your own medical practice.

2024 Tax Cuts: New Stage 3 Tax Brackets Explained

Mar 05, 2024

In January 2024, the government announced that it would redesign the Stage Three tax cuts that were initially announced by the former government in 2018. The new rates were designed to provide larger tax cuts to low and middle income earners and reduce the tax cuts for those earning $160,000 or more.

Fuel Tax Credits - New Credit Rates Update | February 2024

Feb 16, 2024

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.

Whether an UPE to income or capital of a trust estate is a loan?

Nov 22, 2023

We have been fielding questions over the last couple of weeks on an Administrative Appeals Tribunal (AAT) decision that occurred at the end of September 2023.

What is a Virtual CFO and how can it help My Business?

Nov 22, 2023

As business owners, significant time is dedicated to the operations of your business, however, sometimes when you are clouded in the day to day, it is difficult to step back and analyse the financial health of your business and potential growth opportunities. It also becomes increasingly difficult for one person to oversee all finances, therefore it is critical that SME businesses receive timely and incisive advice.

What is the Small Business Technology Investment Boost?

Nov 20, 2023

As part of the 2022-23 Budget, the government introduced the Small Business Technology Investment Boost. Small businesses (with an aggregated annual turnover of less than $50 million) are able to deduct an additional 20% of expenditure that is incurred to support their digital operations and digitise their operations.

Fringe Benefits Tax Considerations for Work Christmas Parties

Nov 09, 2023

As we approach the Christmas period, many businesses will now be considering the festive season, with planning and organisation of celebrations for workplaces, employees, clients, and associates well underway.