The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home.

Is 'downsizing' worth it?

From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation.

Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has reduced to 55 from 60, more people have an opportunity to use this strategy if it suits their needs.

Financial Accounting, SuperannuationJPR BUSINESS GROUP9 February 2023superannuation, property

How good is ChatGPT at tax?

Not being paranoid or anything but we were curious about the skills of the latest innovation to take the world by storm, ChatGPT, and its ability to work with the Australian tax system.

Financial Accounting, New Business, TaxationJPR BUSINESS GROUP9 February 2023chatgpt, chatbot, accountant, tax, taxation

Full throttle in 2023

In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough.

The downside of not taking time out for your strategy is that there is a tendency to keep a short-term focus at an operational level to try and pick quick wins to generate financial returns. Sometimes in the process, this short-term focus undermines longer term value and returns.

The ATO's final position on risky trust distributions

The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions - changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach.

TaxationJPR BUSINESS GROUP1 February 2023trust, ato, australian tax office, taxation

What do the 'Secure Job, Better Pay' reforms mean?

The Fair Work Legislation Amendment (Secure Jobs, Better Pay) Bill 2022 passed Parliament on 2 December 2020. The legislation is extensive and brings into effect a series of changes and obligations that will impact on many workplaces.

Missed the director ID deadline? Now what?

If you missed the 30 November 2022 deadline for obtaining a Director ID, the Australian Business Registry Services have stated that they will not take action against directors that apply for their ID by 14 December 2022.

Financial AccountingJPR BUSINESS GROUP6 December 2022Director, director ID

Avoiding the FBT Christmas Grinch

It’s that time of year again - what to do for the Christmas party for the team, customers, gifts of appreciation for your favourite accountant (just kidding), etc. Here are our top tips for a generous and tax effective Christmas season.

Taxation, Financial AccountingJPR BUSINESS GROUP6 December 2022fbt, Fringe benefit tax, ato, taxation

REMINDER: 30 November director ID deadline

All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation (ATSI) will need a director ID. This includes directors of a corporate trustee of a self-managed super fund (SMSF).

How high will interest rates go?

Coming out of COVID, housing market demand was strong and prices boomed but at the same time, supply chains remained restricted and the problems amplified by geo-political tensions increasing input costs. Supply could not keep up with demand to support the recovery, pushing inflation higher and broader than expected for a longer period of time

Community, Corporate Secretarial, Financial AccountingJPR BUSINESS GROUP18 November 2022interest rates