Authoritative and technically accurate information and guidance on all areas of tax

Small business concessions under the spotlight

  The CGT concessions for small business are important for qualifying businesses in that they can defer, reduce or remove liability to CGT. The government announced last year that it intended to tighten the eligibility factors for the CGT concessions that are generally available to small businesses, and it has just initiated the formal review

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Client looking to buy a home? They may need to withhold and remit GST

  With the end of the financial year in sight, there is one more thing your clients will need to be aware of regarding changes to the tax landscape — especially those thinking of purchasing a residential property. From 1 July this year, buyers of new residential premises (or “potential residential land”) will be required

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Home to work travel claims? Generally not, but sometimes…

  As a general rule, travel from your home to your workplace is not allowed as a deduction because it constitutes a “private expense”. There are however specific situations where this rule does not apply, and there can be circumstances where you may be entitled to claim some of the travel expenses between your home and

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Getting market value right for taxation purposes

  A century on from the High Court’s landmark decision in Spencer v Commonwealth1, Simon Dorevitch sheds light on the term “market value” and its implications for tax purposes. Under Australia’s tax laws, taxpayers are frequently required to determine the market value of an asset or liability. The Inspector-General of Taxation found that there are

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Federal Budget 2018 Infographic – Winners and Losers

  It was undoubtedly a pleasant surprise to see the government has more money in its coffers than anticipated – almost $7 billion more.  More people are employed, consumers are spending their hard earned money and companies are being run effectively. Undoubtedly the headline item from the budget is tax relief for individuals by lifting

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