Should you be the 'bank of Mum and Dad'?

The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst.

Do your kids really want to take over your business?

Generational succession - handing your business across to your kids or family - sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and children are most vulnerable

Warning on SMSF asset valuations

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.

Superannuation, TaxationJPR BUSINESS GROUP12 April 2024SMSF, superannuation, self managed super funds, ATO, tax

How much is my business worth?

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart?

Budget 2024-25

The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero.

The assault on professional services

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax.

Revised stage 3 tax cuts confirmed for 1 July

Before the new tax rates come into effect, check any salary sacrifice agreements to ensure that they will continue to produce the result you are after.

TaxationJPR BUSINESS GROUP13 March 2024tax, taxation, stage 3 tax cuts

Tax Traps of Fringe Benefits

The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.

TaxationJPR BUSINESS GROUP7 March 2024tax, Taxation, Fringe benefit tax, ATO, australian tax office

How to take advantage of the 1 July super cap increase

The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions.

SuperannuationJPR BUSINESS GROUP6 March 2024superannuation

Looking to start a business? Loans to get you started

It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications.