If you’re aged 55 or over and considering selling your family home, you may have a unique opportunity to boost your superannuation through what’s known as a downsizer contribution. This measure aims to provide greater flexibility in retirement planning while encouraging better use of housing stock across the country. Here’s what you need to know…
As the 2025-26 financial year kicks off and the 2024-25 ends, it heralds the start of another tax season of receipt-chasing, deductions and paperwork. Whether you’re lodging your return early or waiting until the October deadline, understanding what you can legally claim as a tax deduction can make a real difference to your refund or…
The start of a new financial year presents the perfect opportunity to reset, refocus, and set your business up for success. As your accountant, we recommend treating 1 July not just as a date on the calendar, but as a strategic launchpad for the year ahead. Here’s how to make the most of it: 1.…
As interest in cryptocurrency continues to grow, an increasing number of self-managed super funds (SMSFs) are incorporating digital assets into their investment strategies. While the potential for high returns can be appealing, the world of crypto is still relatively new and comes with significant risks. For SMSF trustees, it’s essential to tread carefully and comply…
If you’re considering purchasing a vehicle for your business, it’s important to be aware of the updated car thresholds taking effect from 1 July 2025. Each financial year, the Australian Taxation Office (ATO) reviews and adjusts these thresholds to reflect inflation and economic conditions, and they directly impact how much you can claim for your…
A new financial year is more than just ticking compliance boxes—it’s a strategic opportunity to reflect, reset, and reposition your business for the year ahead. One of the most valuable tools you can leverage during this time is an up-to-date business plan. While many businesses set a plan when starting out, it’s easy to let…
If you’re self-employed—whether you run your own business as a sole trader or operate within a partnership—you’re probably used to wearing many hats. From managing clients and keeping up with invoices to handling tax obligations, the to-do list never seems to end. But as we approach the end of the financial year (EOFY), one important…
Self-managing your National Disability Insurance Scheme (NDIS) budget can give you more control and flexibility. However, it also comes with important tax responsibilities – especially if you’re hiring support workers directly or receiving NDIS funding as a participant, nominee, or plan manager. Understanding your tax obligations can help you stay compliant and avoid unexpected issues…
Businesses facing financial challenges must take proactive steps as the end of the financial year approaches to ensure compliance and set a foundation for recovery. The Australian Taxation Office (ATO) has intensified efforts to recover debts, leading to a surge in insolvencies and restructuring plans . Therefore, it’s crucial for struggling businesses to prepare diligently…
The approach to the end of the financial year is a great time to review your superannuation strategy – especially if you haven’t used up your concessional (pre-tax) contribution caps in recent years. Thanks to the ATO’s carry-forward contributions rule, you may be able to boost your super and gain a tax advantage by topping…