Tax
End of Financial Year: a time for reflection and new opportunity
12 June
Why the EOFY Marks More Than Just a Date on the Calendar As June 30 rolls around each year in Australia, it brings with it a moment of pause — a clear marker that one financial chapter is closing and another is about to begin. While for some, it...[Read More]
Liberals concede tax cut stance a ‘strategic mistake’
11 June
The coalition’s new finance spokesman has conceded campaigning against tax cuts was a significant error, promising to push for lower rates in the next term of parliament. James Paterson said the coalition’s position against Labor’s two-part...[Read More]
Greens strike conciliatory tone on super tax changes
11 June
The Greens are “absolutely ready” to work with Labor to make proposed changes to superannuation, acknowledging the mandate voters gave the Albanese government at the election. Labor is looking to double the tax rate of super balances above $3...[Read More]
EOFY super and tax strategies: is it too late? What you can still do — and how to get ahead for next year
5 June
As June 30 approaches, many Australians wonder: Have I left it too late to make a difference to my super and tax position this financial year? The good news is, it’s not too late. With some focused action in the final month and a proactive start...[Read More]
Super backlash ‘doesn’t augur well for tax reform’
4 June
Super backlash ‘doesn’t augur well for tax reform’ The uproar over proposed changes to superannuation tax concessions does not bode well for the government’s chances of passing broader tax reform, Treasurer Jim Chalmers says. First...[Read More]
Preparing your tax return – Find out what a tax return is, what information you’ll need to prepare it and when it’s due.
4 June
What is a tax return A tax return is a form you complete online, on paper or get a tax agent or our Tax Help program to help you with. Your tax return tells us: how much money (income) you earn if you are claiming any deductions. We use this...[Read More]
Holiday homes – Find out about deductions and tax implications if you own a holiday home.
4 June
Holiday home – not rented out If you own a holiday home and don’t rent out the property, you don’t include anything in your tax return until you sell it. When you sell the property, you will need to calculate your capital gain or loss. Keep...[Read More]
Tax reprieve for farmers as drought declared statewide
4 June
Farmers will be temporarily spared from paying a hiked emergency services levy as drought support is expanded statewide. An extra $37.7 million has been earmarked for drought relief in Victoria as paddocks and dams run dry following low autumn...[Read More]
Carbon tariff on the table for overseas businesses
4 June
Labor has left the door open to a tax on cement and steel coming in from places not taking sufficient climate action. Energy Minister Chris Bowen said Australia remained on-track to meet its legislated 43 per cent by 2030 emissions reduction target...[Read More]
End of financial year tax and super strategies: what you need to know
29 May
As the end of the financial year (EOFY) approaches, it’s an important time to assess your tax position and superannuation strategy. With regulatory changes coming into effect from 1 July, this period offers a timely opportunity to put effective...[Read More]
Retirees working past the age of 70: what to consider
29 May
With increasing life expectancy and shifting financial goals, many Australians are choosing to continue working beyond the age of 70. Whether for financial security, personal fulfilment, or social engagement, part-time work in retirement can offer...[Read More]
Fears super tax rise for rich will whack housing market
28 May
A bid to increase taxes on wealthy Australians’ superannuation has been paved with good intentions, but there are warnings it may create unfair outcomes. The federal government is hoping to pass a bill to impose a 15 per cent tax on super balances...[Read More]
Stamp duty exemption plan reheated for first homebuyers
28 May
Stamp duty would be scrapped for first homebuyers spending up to $1 million under a state election pitch that creates a $1 billion budget shortfall. In his budget reply speech, Victorian shadow treasurer James Newbury unveiled a policy to lift the...[Read More]
The importance of keeping a vehicle mileage logbook plus tips for record-keeping
22 May
Maintaining a vehicle mileage logbook is an essential practice for anyone who uses their vehicle for business purposes. Not only does it help with accurate record-keeping, but it also ensures compliance with tax regulations, provides evidence for...[Read More]
How to claim income tax deductions for work-related expenses and other expenses, and record your deductions.
21 May
Instant tax deduction On 13 April, the government announced a $1,000 instant tax deduction, so that taxpayers won’t need receipts to claim a deduction of less than $1,000 for work-related expenses in their tax return. This change is subject to...[Read More]