Earned an income from the sharing economy?

It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.

TaxationJPR BUSINESS GROUP5 July 2024sharing economy, uber, airbnb

$20k instant asset write-off passes Parliament

Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end of the financial year.

TaxationJPR BUSINESS GROUP5 July 2024instant tax write-off, Taxation

What’s ahead for 2024-25?

Will 2024-25 be another year of volatility or a return to stability?

Taxation, SuperannuationJPR BUSINESS GROUP2 July 2024Taxation, superanuation

Is your family home really tax free?

The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s never that simple.

TaxationJPR BUSINESS GROUP1 July 2024Taxation, family home

The essential 30 June guide

The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions.

Check out what's changing from 1 July 2024

From tax cuts to superannuation, here’s what’s changing from 1 JUly 2024

More than 5 million are struggling with mortgage payment

New nationwide research released by ASIC’s Moneysmart reveals that 47% of Australian adults with debt, the equivalent of 5.8 million people, have struggled to make repayments in the last 12 months.

ATO fires warning shot on trust distributions

The way in which trusts distribute income has come under intense scrutiny in recent years. Trust distribution arrangements need to be carefully considered by trustees before taking steps to appoint or distribute income to beneficiaries.

Accessing money in your SMSF

The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs).

SuperannuationJPR BUSINESS GROUP29 April 2024SMSF, self managed super funds, superannuation

Company Money Crackdown

It’s common for business owners to utilise company resources for their personal use. The business is often such a part of their life that the line distinguishing ‘the business’ from their life can be blurred.

Taxation, New BusinessJPR BUSINESS GROUP29 April 2024ATO, australian tax office, Taxation, Tax law