When is a gift not a gift? The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an Australian resident Russian couple […]
What’s ahead for 2024-25? Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the superannuation guarantee […]
If you are planning on elevating your business it may be the perfect time to invest in guided business advisory and support from specialised professionals. In this piece, we unpack what is a business adviser, what they can do for you and why you should consider investing in one. What is a business adviser? A […]
There’s nothing worse than being caught out by a large tax bill when you lodge your tax return. If you receive business or investment income which results in a taxable position the ATO will automatically register you for ‘Pay As You Go’ (PAYG) Instalments. PAYG Instalments are regular tax instalments paid throughout the year. These […]