The budget’s boost to instant asset write-off is now law

  Federal Budget night announced an increase in the instant asset threshold, and also an extension of which businesses could access the measure. Now the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019 has achieved Royal Assent. (And it did so on 6 April, so your affected clients may appreciate the

[ Read More ]

SG amnesty is not law, but its promise has gathered $100 million so far

  Tax & Super Australia reported recently that the failure of the Superannuation Guarantee Amnesty to pass into law has led to a problem — namely, that employers who came forward after the announcement of the amnesty, via a media release in May 2018, on the expectation of enjoying the amnesty’s benefits, found themselves facing

[ Read More ]

An ATO “living expenses” tool to tackle the black economy

  It’s known by a variety of names, such as the black economy, or even the cash or hidden economy. But whatever the label, its existence is a pebble in the ATO’s shoe that it is forever looking to prise out. As part of that ongoing effort, the revenue agency has settled upon different sets

[ Read More ]

Online services for agents is on the horizon

Online services for agents The ATO’s “Online services for agents” is a new secure system to access services you use in the tax and BAS agent portals. Online services for agents includes new features and functions not available in the portals, however the ATO says it will retain features that practitioners have nominated as being

[ Read More ]

Estate planning & blended family essentials and insights

  Tax-effective planning to minimise disputes between competing beneficiaries depends on knowing all the applicable tips, traps and practicalities. Estate and succession planning involving blended families has its own particular challenges.  An individual often wishes for their second spouse to be looked after, but wants to ensure the children from the first relationship are not

[ Read More ]