The Australian Taxation Office (ATO) recently issued a new ruling, PCG 2025/5, which significantly changes the "safety" of using a company or trust to manage income earned from your own personal skills (Personal Services Income or PSI).
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The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026.
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We previously flagged that Payday Super would create a real cashflow shift for Australian businesses.
Now we’re seeing the Australian Taxation Office (ATO) actively stepping in to help employers prepare.
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Taxpayers should note that GST credits and fuel tax credits will expire if not claimed within the 4-year credit time limit (i.e., generally four years from the due date of the original BAS in which the taxpayer could have claimed them).
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Commonwealth Bank research shows less than half of people surveyed can spot an AI Deepfake scam. Here is what you can do to be aware.
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Payday Super is coming and employers should start preparing for the permanent closure of the Small Business Superannuation Clearing House ('SBSCH') on 1 July 2026.
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With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. However, there are important issues to consider, including the possible FBT and income tax implications of providing 'entertainment' (including Christmas parties) to staff and clients.
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The ATO’s new draft guidance makes it clear that holiday homes and mixed-use rental properties will face tougher rules on deductions. Owners will now need to show their property is mainly used to earn income—especially during peak periods—or risk losing key tax benefits.
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From August 2025, the ATO have been progressively including 'debts on hold' in relevant taxpayer ATO account balances.
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The ATO is 'detecting and addressing' recurring errors in specific industries when businesses have a turnover between $1 million and $10 million.
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Small businesses and charities operating in embedded networks in WA may be eligible for a $150 Small Business Electricity Credit, funded by the Commonwealth government and administered by the SBDC.
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Employers that supply work vehicles to their employees need to check how the work vehicles are used and whether any exemptions apply to determine if they attract fringe benefits tax ('FBT').
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Taxpayers who have had work done on their rental property should ensure the expense is categorised correctly to avoid errors when completing their tax return.
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Taxpayers who have been working from home this financial year, and who consequently incurred work-related expenses, have two ways to calculate their work from home deduction.
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Not-for-profits ('NFPs'), including sporting clubs, societies and associations with an active ABN, need to lodge an annual NFP self-review return to continue accessing their income tax exemption.
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Despite previous assurances, and after much speculation, the Government has announced tweaks to the 'Stage 3' tax cuts that will apply from 1 July 2024.
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The ATO is remitting failure to lodge penalties for eligible small businesses. Businesses which have not yet taken advantage of the ATO's lodgment penalty amnesty only have until 31 December 2023 to do so.
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Director Greg Mawer was asked to share some insights on tax brackets and the stage three tax cuts in this article for Forbes Advisor recently.
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A Mildura man was recently sentenced in the County Court of Victoria to seven-and-a-half years in prison after obtaining more than $830,000 in fraudulent GST refunds.
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The Administrative Appeals Tribunal (‘AAT’) recently held that a claim for a deduction for personal super contributions should not be allowed, as the relevant 'notice requirements' were not satisfied.
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