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Tax and the Family Home
Everyone knows you don’t pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption. Capital gains tax (CGT) applies to gains you have made on the sale of […]
Getting back what you put in: Loans to get a business started
It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications. A case before the Administrate Appeals […]
Stage 3 personal income tax cuts redesigned
The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. After much speculation, the Prime Minister has announced that the Government will amend the legislated Stage 3 tax cuts scheduled to commence on 1 July 2024. Relative to the current […]
The Best Financial Accounting Services to Guide Your Business and Personal Finances
Running a business requires your full time and attention. That said, you might be overwhelmed by all the things that you need to do especially in your business finances. With the help of financial accounting experts, you are able to free up some space to do your other business transactions on time. And as the […]