States Move on Property Based Taxes

Queensland backs down on Australia wide land tax The Queensland Government has backed away from an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s Australia wide land holdings from 1 July 2023, not just the value of their Queensland property. The amendment…
Tax Increase

To Cut, or Not to Cut?

Stage three personal tax cuts In September, amid a climate of startling interest rates, UK Chancellor Kwasi Kwarteng announced a series of tax cuts, including the reduction of the top personal income tax rate that applies to those earning more than £150,000 from 45% to 40%. Just ten days later, following market turmoil that saw…

120% deduction for skills training and technology costs

The Government has reinvigorated this announcement for small and medium businesses An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and details released in recent exposure draft…

How to Sell Your Business

We’re often asked the best way to sell a business. There are two key components at play in the sale of a business: structuring the transaction; and positioning the business to the market. Both elements are important and can significantly impact your result. Structuring the transaction covers areas such as pricing the business, the terms…

Tax Office Hunts for Undeclared Income

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Assistant Commissioner, Kath Anderson, says the ATO is looking for income from second jobs and capital gains on cryptocurrency. Australians leaving cash payments and foreign income off their annual tax return face being caught through new data-matching technology deployed by the Tax Office. Part of efforts to recover an annual shortfall of up to $1.4…

5 Smart things to do with your Tax Refund

If you’re looking at a tax refund this year, then you’ve probably already thought of dozens of ways to spend it. From holidays to a new car, it’s easy to get caught up in a buying frenzy when confronted with a large sum of money received in a nice single payment. Before you burn through it…

Tip Tuesday: Accounting for Start-Ups

If you’re in a startup, it can be an exciting world of creativity and innovation. But while it’s great to do something you love, you also need to make a living. So how can you live the dream and ensure your cashflow is well managed? In this article, a representative from third-party Pinterest marketing solution Shareroot talks…
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