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 generally take the…

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 touch of festive cheer! 1. Consolidate your superannuation If you’ve worked multiple…

With interest rates remaining stubbornly high, and some property investors bailing out altogether, others are taking steps to refinance their debt in order to secure a lower rate and obtain better terms. Before deciding to go down the refinancing route there are broader financial issues to weigh up and you may need to seek separate…

With Australia going through a major cost of living crisis and interest rates not coming down asquickly as hoped, more and more people are looking at ways of creating additional cash flow to helpmake ends meet. What is a side hustle?Earning extra income on top of your primary job is sometimes known as a side…

Starting 1 July 2025, new parents will receive superannuation payments on top of their paid parentalleave (PPL). The changeEligible parents with babies born or adopted from 1 July 2025 will get an extra 12% of theirgovernment-funded PPL as a superannuation contribution to their nominated superannuation fund.The lump sum superannuation payment will be paid annually by…

To say that the interaction of the Capital Gains Tax (CGT) laws and trusts is complicated is probablyone 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 was Einstein who apparentlyquipped that “the hardest thing in…

Work-related expensesBut that isn’t quite right, as the tax rules in fact enable you to make legitimate claims for work-related expenses for up to $300 in a financial year without having receipts, provided:– you have spent the money;– the expense is directly related to earning your income;– you haven’t been reimbursed by your employer;– it…

A common question SMSF trustees ask is whether they can sell or transfer their SMSF assets to a related party, like themselves or a family member. Selling to related parties is possible While there are rules about what assets an SMSF can buy from a related party, there’s no law that says you can’t sell…

If you carry on a business – small or large – the question of which business structure to use always arises – and not just from when you start that business, but also during its operation when it may be beneficial to change from one structure to another.  Essentially, there are four major ways in…

There are many different issues to be considered, and matters to be juggled, when buying a new home eg, financing, storage of furniture, etc – and timing, of course. But a common issue is whether you should sell your existing home first and then buy – or buy first. (Most “experts” say you should sell…