When it comes to running a regional business—whether it’s a family farm, trucking company, or small-town operation—the hard work and dedication that goes into it is irreplaceable. But what happens when it’s time to step back or hand over the reins?

By understanding and acting on these changes, you can protect your business while ensuring fair treatment of employees.

The ATO has identified several mistakes it commonly sees in tax returns which are made by people who own rental properties. One of those mistakes is claiming a deduction for repairs of a property when an outright deduction should not have been claimed.

If you have a private company and it has made a loan to a shareholder or an associate of a shareholder, don’t forget your obligations to either repay the loan in full or make a ‘minimum yearly repayment’.

There is the office Christmas party to organise. There are gifts to buy for all the team. There are hampers and other Christmas gifts to give to key clients and suppliers. But wait! My accountant says that some of this might not be tax deductible. Some of it might attract Fringe Benefits Tax (‘FBT’).

Here, we explore the essentials of estate planning in Australia, including key components, legal considerations, and the importance of seeking professional guidance.

Additional tax liabilities may arise when money or assets of a foreign trust are paid to a taxpayer or applied for their benefit, and they are a beneficiary of the foreign trust.

A common SMSF question is whether you can live in a property owned by your fund. The short answer is yes - with a few buts.

Charitable donations can serve as an excellent method of putting your money behind causes that speak to you, and can serve as a great method of maximising both your tax return, and the use of your hard-earned money.

On Monday 3 June 2024, the Fair Work Commission has announced a 3.75% increase to minimum rates in modern awards, which takes effect from the first full pay period after 1 July 2024. For those employees who are not covered by a modern award or enterprise agreement, and are paid the National Minimum Wage, they will also receive an increase of 3.75%.