Outstanding tax debts? ATO warns about disclosure to CRAs
The ATO has shifted its focus from providing assistance with tax through the pandemic to now re-establishing the culture of businesses paying their tax debts on time. Beginning from July…
The Shape of Australia’s Future
What will the Australian community look like in 40 years? We look at the key takeaways from the Intergenerational Report. The 2023 Intergenerational Report (IGR) is a crystal ball insight…
Why is my tax refund so small?
The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As…
2023 Federal Budget Highlights
Here are the highlights from the 2023 Federal Budget, handed down by Treasurer Jim Chalmers on 9 May 2023. Businesses The instant asset write-off threshold for small businesses applying the…
Have you got all your last quarter obligations under control?
Now that we're in April, we have our final 3 months to finalise tax planning for the 2023 income year. Despite the need for tax planning, April and May are…
How good is ChatGPT at tax?
Not being paranoid or anything but we were curious about the skills of the latest innovation to take the world by storm, ChatGPT, and its ability to work with the…
Can you prevent a hack?
In the wake of the Optus data leak, legislation before Parliament will lift the maximum fine for serious or repeated breaches of the Privacy Act from $2.2m to up to…
2022-23 Federal Budget 2.0
The second 2022-23 Federal Budget was announced on 25 October 2022. There is nothing in the 2022-23 Federal Budget 2.0 that will create a UK style crisis. Most funding initiatives…
Apply for director ID now and beat the rush!
Directors need to apply for their director identification number (director ID) by 30 November 2022. If you have a corporate trustee for your self-managed super fund (SMSF), then you're a company director,…
How high will interest rates go?
The RBA lifted the cash rate to 1.85% in early August 2022. The increase comes a few weeks after Reserve Bank Governor Philip Lowe told the Australian Strategic Business Forum…