Business Advice - Business Edge Advisors

Business Boost with Tax Incentives for Employee Training and Digital Transformation in Small Businesses

June 23, 2023June 23, 2023 by admin

In the ever-evolving business landscape, small businesses must continually adapt and innovate to remain competitive. Recognising the importance of digital adoption and skills development in driving business growth, the Australian Federal Parliament has introduced new tax incentives as part of the 2022-23 Budget. These incentives, known as the Small Business Technology Investment Boost and the … Read more

Trust Compliance & Distributions

June 16, 2023June 14, 2023 by admin

The Australian Taxation Office (ATO) is actively targeting trusts and how trusts distribute income to beneficiaries. A number of clients have requested a review of their structures to ensure that they are in the best possible position in the future. We want to help you achieve the best result. Distributing trust income Managing trust distributions … Read more

‘OnlyFans’ & Creatives Tax Risk Warning!

May 14, 2023 by admin

The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice to the booming industry. Back in October 2022, OnlyFans CEO Ami Gan announced that the platform had reached a milestone – paying out $10 billion … Read more

ATO Rental Property Blitz

May 11, 2023 by admin

The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of around $1 billion from incorrect reporting of rental property income and expenses. And, they would like that back … Read more

2023 Budget Summary & Download

May 10, 2023 by admin

Ace in the Hole’ Budget 2023-24 The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and individual tax take. High commodity prices, inflation, and high employment have all pushed up corporate and individual tax receipts. … Read more

How does tax apply to electric cars?

May 1, 2023 by admin

Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. FBT exemption for electric cars If your employer provides you with the use of a car that is classified as a zero or low emissions vehicle there is … Read more

LEGALLY SAVE TAX – part 3 – Things you need to save you CASH!

April 21, 2023April 17, 2023 by Clayton Wood

Save Tax by using what you already have and need Saving on tax can be as simple as smart planning by utilising expenses that you’re already incurring or going to incur anyway. Having a better than average year, pull expenses into the 2023 Financial year. This also applies if you think sales and profit are … Read more

Celebrating 10 Years of Business Success and Looking Forward to the Future

April 13, 2023 by admin

It’s hard to believe that it’s been 10 years since Clayton took over the business from Graham Fuller in 2013. Over the years, we’ve experienced our fair share of ups and downs, but through it all, we’ve remained dedicated to our vision and goals of helping small businesses succeed. We couldn’t have achieved this milestone … Read more

What will the ATO be Asking about your Holiday Home?

March 30, 2023 by admin

Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise claims: How many days was it rented out and was the rent in line with market … Read more

The Power of Being in the Right Place at the Right Time and How to Position Yourself for Success

March 6, 2023 by Clayton Wood

As a small business owner, you know that success doesn’t always come easily. You need to work hard, make smart decisions, and constantly adapt to changes in the market. But there’s another factor that’s just as important as all of these things: being in the right place at the right time. When you’re in the … Read more

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