Employees vs. Contractors: What sets them apart The Australian Taxation Office (ATO) has recently revised its guidance on differentiating between employees and independent contractors. This change follows several court rulings that clarified the criteria for determining whether a worker is genuinely an employee or an independent contractor. Whether you’re a worker or a business owner,
We may need to talk about your family trust You may have read about a recent court decision affecting some family trusts. In a case called Bendel, published on 19 February 2025, the Full Federal Court unanimously held that the private company beneficiary of a discretionary trust has not made a “loan” or “financial accommodation”
Beware of Bitcoin gains! If you own Bitcoin, or any other crypto currency, you may have been the beneficiary of Donald Trump’s election as President last November – which saw Bitcoin prices jump by almost 50% almost immediately after the election (and certainly in the following weeks). And if you decided to take advantage
Seven changes impacting your super in 2025 Superannuation rules are always changing, and 2025 is set to bring some updates that could affect your retirement savings. Whether you’re just starting to build your super or already planning for retirement, keeping up with these changes can help you make informed decisions. Here’s what’s on the horizon.
Coalition election announcements The unofficial federal election campaign is now well under way, with Opposition Leader Peter Dutton announcing a couple of tax policies while out on the hustings in Queensland on 19 January. We’re drawing these developments to your attention in order to keep you informed about what the tax landscape might look like
Super and hardship: A safety net in financial difficulty Superannuation is often seen as untouchable savings for retirement, but did you know it can also be a lifeline during financial difficulty? While super is designed for retirement, there are rules to allow it to provide financial support in several situations. Let’s explore these rules
Yet more rental data matching by the ATO Feeding its seemingly insatiable appetite for rental data, the ATO has recently announced it will soon be collecting rental bond details for some 2.2 million individuals. The data, which will be collected twice a year from State and Territory bond regulators, is very comprehensive, and will include
Deduction for self-education courses So, you are undertaking a course or further education that relates to your work or business in some way – and you have to pay for the costs of the training or course. Well, the question of whether you can claim a deduction for this cost as “self- education” expenses
Unwrap your future: 12 super tips for a merry and bright retirement Christmas is a time for giving, but it’s also a great time to give your future self the gift of financial security. Here are 12 simple superannuation tips to help you make the most of your super fund – wrapped up with a
Christmas & Tax With the festive season just around the corner (or already under way), many business owners will be gearing up for year-end celebrations with both employees and clients. Knowing the rules around FBT, GST credits and what is or isn’t tax deductible can help avoid unwelcome surprises on the tax front. Holiday celebrations
Super on parental leave pay is now law Starting 1 July 2025, new parents will receive superannuation payments on top of their paid parental leave (PPL). THE CHANGE Eligible parents with babies born or adopted from 1 July 2025 will get an extra 12% of their government- funded PPL as a superannuation contribution to their
The black hole of CGT and trusts To say that the interaction of the Capital Gains Tax (CGT) laws and trusts is complicated is probably one of the greatest understatements that anyone could make about the operation of the tax laws. The laws of physics may be much simpler – and, in this regard, it