The winds of change are blowing for property investors in the realm of short-term rentals. If you’ve capitalized on the short-term rental trend or have been keeping your properties vacant, there’s an upcoming tax shakeup that’s worth your attention. The Victorian Government has recently announced Australia’s premier short-stay property tax, set to come into effect … Read more
In a scandal that shook the nation, the TikTok tax fraud saw a staggering $1.7 billion paid out in fraudulent refunds, with an additional $2.7 billion in fraudulent claims halted in their tracks. With around 56,000 alleged perpetrators and over 100 arrests to date, how did this scandal spiral out of control? A Victimless Hack? … Read more
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
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
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: Tax & Christmas – For your business For GST registered businesses (not tax exempt) that … Read more
Sportspeople, media personalities, celebrities and ‘insta’ influencers beware. The ATO has taken a U-turn on how fame and image should be taxed. If you’re famous and make an income from your fame and image, the way the ATO believes you should be taxed on the income you make may change under a new draft determination … Read more
The Technology Investment Boost is a 120% tax deduction for expenditure incurred on business expenses and depreciating assets that support digital adoption, such as portable payment devices, cyber security systems, or subscriptions to cloud-based services. The boost is capped at $100,000 per income year with a maximum deduction of $20,000. To be eligible for the … Read more
There are two key components at play in the sale of a business: structuring the transaction; and positioning the business to the market. Both elements are important and can significantly impact your result. Structuring the transaction covers areas such as pricing the business, the terms and conditions attaching to the sale, key terms in the … Read more
23:59 UTC on 20 September 2022 is the cut-off to register for your .au direct domain. The .au domain is the new, general-purpose, shorter Australian domain name option. If you do not register the direct match of your existing domain for the direct .au domain, you risk your brand equity being consumed by someone else, … Read more
We’re going to the Henty Field Days, 20, 21 & 22 September 2022. We think it’s going to be the biggest ever, since not been able to run since 2019. Southern Australia’s biggest agricultural event is the Henty Machinery Field Days. With over 3500 businesses on site, there’s something for everyone. Opening hours 8am – … Read more
