Professional Services Firm Profits Guidance Finalised
The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022. The ATO’s guidance uses a series of factors to determine the…
Year of the Tiger: Roaring or Bellowing?
The 2022 Luna New Year, Year of the Tiger, is courage and bravery. It is a year to drive out evil and one of momentum and change. The message; walk…
The top Christmas tax questions
Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are our top issues: Staff gifts The key to Christmas presents for your…
The ‘Backpacker Tax’ and the High Court
High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact. Since 2017, the ‘backpacker tax’ has taxed the first dollar of income a backpacker earns…
2022: The year ahead
2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our personal and work lives….
If Santa was an Australian tax resident
A lighter look at the complexity of Australian taxation laws and the year that has been. Dear Mr Claus, Thank you for the opportunity to provide strategic business, tax and…
How to set up your Director ID
Directors are now required to register for a unique identification number that they will keep for life. What is a director ID? A director ID is a 15 digit identification…
Tax and the Normalisation of Cryptocurrency
The Australian Taxation Office recently updated its guidance on tax and cryptocurrency. In early November, the Commonwealth Bank announced that it is now Australia’s first bank to offer customers the…
Recruiting new employees? The 1 November superannuation rule changes
When your business hires a new employee, the Choice of Fund form is used to identify where they want their superannuation to be directed. If the employee does not identify…
