Tax Tips
Check out our Tax Tips below with articles on working from home, downsizer Super Contribitions, record keeping and much more.
Tax Tip: What the 2026 Federal Budget Could Mean for Investors, Business Owners and Trusts
The proposed 2026 Federal Budget contains significant tax changes that may affect property investors, business owners and families using discretionary trusts. Key Proposed Changes 1. Negative Gearing Future negative gearing concessions may be limited to new…
Tax Tip: Don’t Miss the $20,000 Instant Asset Write-Off
If you’re a small business owner, now may be a good time to review any equipment, technology or business asset purchases you have been considering. Eligible businesses with an aggregated turnover of less than $10 million may be able to claim an immediate tax…
Tax Tip: Key Superannuation Changes and Tax Planning Opportunities from 1 July 2026
The new financial year brings several important superannuation changes that may create valuable tax planning opportunities for individuals and business owners. 1. Payday Super Starts From 1 July 2026, employers will be required to pay superannuation at the same time…
PLANNING TO ENSURE A FINANCIALLY SECURE RETIREMENT
This month there were two sets of data released that may be a cause for concern for those who are approaching retirement. On August 18th the Association of Super Funds of Australia revealed that retirees will now need to spend more in order to retire comfortably….
TAX IMPLICATIONS OF INVESTING IN CRYPTOCURRENCIES
If you are amongst the estimated 600,000 taxpayers that have invested in cryptocurrencies or are attracted to the idea, then this month’s column should be of interest to you. On 28th May 2021 the ATO issued a statement addressing Australia’s cryptocurrency investors…
TAX TIPS AND TRAPS FOR RENTAL PROPERTY OWNERS – Part B
If you own a rental property and you missed reading my September column it would be a good idea to download page 28 of the September edition of The Diary and read Part A of this topic before progressing to this month’s column. A key area where the ATO has found a high…
TAX TIPS AND TRAPS FOR RENTAL PROPERTY OWNERS – Part A
If you are one of the more than 1.8 million Australians owning investment rental properties then this month’s column will be of interest to you. Assistant Commissioner Tim Loh recently reminded property investors to take more care when submitting their tax returns as…
TAX IMPLICATIONS OF INVESTING IN SHARES – PART C
This month’s column is the third in the series addressing the tax implications of investing in shares and explains the impact of capital gains tax on the sale of shares by investors that are not categorised as share traders. If you are a share trader or contemplating…
TAX IMPLICATIONS OF INVESTING IN SHARES – PART B
In my February column I explained the tax implications of investing in shares that pay franked dividends and how you calculate the return you are earning on your investment. You may wish to visit that article which is available on The Diary website under columns….
TAX IMPLICATIONS OF INVESTING IN SHARES – PART A
A survey of 2046 Australian adults by researcher Qualtrics commissioned by financial comparison website Canstar found that 40% of young Australians invested in the share market in 2020. Forty-four percent of respondents aged 26-40 and 42% aged 18-25 participated in…
CHRISTMAS PARTIES – TAX TIPS FOR EMPLOYERS IN THE YEAR OF COVID-19
Christmas is rapidly approaching and those of us that are in business will hopefully be planning Christmas parties and maybe gifts and/or cash bonuses for employees and possibly gifts for clients and business associates. Those of us who are employees will be eagerly…
Christmas Parties – Tax Tips for Employers
Christmas is rapidly approaching and those of us that are in business will be planning Christmas parties and maybe gifts and/or cash bonuses for employees and possibly gifts for clients and business associates. Therefore once again it is timely for this column to…