What happens when a trust appoints income to a private company beneficiary but does not actually make the payment? The tax treatment of this unpaid amount was at the centre of a recent case before the Administrative Appeals Tribunal (AAT) that saw a taxpayer...

The Federal Government recently announced a 3.03% industry average increase in private health insurance premiums. This increase will take effect from April 1 and will vary between insurance providers and individual policies. Some households could end up paying...

As we move forward into 2024, one might question whether the erratic nature of recent years will yield to a steadier state of affairs. Let's delve into the principal factors that are likely to shape the upcoming period. Economic Dynamics: Inflation and Workforce...

'Tis the season to be merry, but no one wants to unexpectedly gift the Australian Tax Office (ATO) during the holidays. To help you avoid unnecessary taxes and stay on the ATO's good side this festive season, here are some useful tips: 1. Spontaneous Team Gifts...

Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian Taxation Office estimates – a figure the Government and the regulators are looking to dramatically change. Superficially, the statistics on employer superannuation...

The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can’t claim. If you undertake study that is connected to your work you can normally claim your...

Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances above $3m from 15% to 30% from 1 July 2025. This is the final step before the legislation is introduced into Parliament and a step...

Property investors that choose to utilise their property for short-term stays (or leave it vacant) are firmly in the sights of the regulators. The Victorian Government’s recent Housing Statement announced Australia’s first short-stay property tax. The additional...