Our Recent Blogs
Reminder: ATO Interest Charges No Longer Tax Deductible from 1 July 2025
We’d like to remind you of an important change coming into effect from 1 July 2025 that may impact your tax deductions.
Increase to Rate for Working from Home Running Expenses
PCG 2023/1 outlines the ATO's new method ('the fixed-rate method') for calculating additional running expenses while working from home, which has applied from 1 July 2022.
Keeping Not-for-Profit Records Up to Date
Taxpayers should remember that they are legally required to keep certain records for their not-for-profit ('NFP').
How to Avoid Common CGT Errors
The ATO wants taxpayers to know that having a foreign resident capital gains withholding ('FRCGW') clearance certificate does not mean they do not have any further CGT obligations…
General Transfer Balance Cap will be Indexed on 1 July 2025
Indexation of the general transfer balance cap ('TBC') will occur on 1 July 2025. This cap will increase by $100,000 from $1.9 million to $2 million.
FBT Record Keeping and Plug-In Hybrid Exemption Changes
With the 2025 fringe benefits tax ('FBT') year having just ended (on 31 March), the ATO is reminding employers of some changes that might impact their FBT obligations.
Reminder of March 2025 Quarter Superannuation Guarantee ('SG')
Employers are reminded that employee super contributions for the quarter ending 31 March 2025 must be received by the relevant super funds by Monday, 28 April 2025.
Labor Pledges to Extend Instant Asset Write-Off
The Albanese government has pledged a 12-month extension of the $20,000 instant asset write-off, offering small businesses with revenues up to $10 million another year to benefit from this measure.
Changes to GIC Deductions Pass Parliament
On 26 March 2025, Parliament passed amendments that will deny taxpayers the ability to claim deductions for General Interest Charge (GIC) and Shortfall Interest Charge (SIC) starting 1 July 2025.
Key Highlights from the 2025-26 Federal Budget
The 2025-26 Federal Budget brings several significant changes to tax rates, the Medicare Levy threshold, and introduces various measures in non-tax related areas.
How to Master Employer Obligations in 2025
Taxpayers who employ staff should remember the following important dates and obligations…
New Ban on Foreign Purchases of Established Dwellings in Australia
From 1 April 2025, a new temporary ban will prevent foreign individuals and companies from purchasing established homes in Australia. This move is aimed at improving housing affordability and ensuring more homes are available for domestic buyers.
ATO Implements Monthly GST Reporting for Non-Compliant Businesses
In a bid to improve tax compliance, the Australian Taxation Office (ATO) has announced that around 3,500 small businesses with a history of non-payment, late lodgement, or incorrect reporting will be required to shift from quarterly to monthly GST reporting starting 1 April 2025.
ATO Debunks Division 7A 'Myths'
The ATO has recently published a document 'debunking' various Division 7A 'myths'…
HELP and Student Loan Repayments
The Government has announced changes to the Higher Education Loan Program (HELP) and other student loan repayment systems to make them fairer.
CGT Withholding Measures Now Law
The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes).
Taxpayer's Claims for Various 'Home Business' Expenses Rejected
In a recent decision, the AAT rejected in full a taxpayer's claims for "several classes or categories of deductions."
Eligibility for Compassionate Release of Superannuation
The ATO has been responsible for the administration of the early release of superannuation on compassionate grounds since 1 July 2018…
FBT on Plug-In Hybrid Electric Vehicles
From 1 April 2025, a plug-in hybrid electric vehicle ('PHEV') will not be considered a zero or low emissions vehicle under fringe benefits tax ('FBT') law and will not be eligible for the electric car FBT exemption.
Deductions for Financial Advice Fees
The ATO has provided guidance about when an individual not carrying on an investment business may be entitled to a deduction for fees paid for financial advice.