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Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider.   Business transactions often include earn-out clauses where the vendors ‘earn’ part of the purchase price based...

When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right?   There a...

Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles.   The FBT exemption for electric cars If your employer provides you with the use of a car that is...

The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update on the important issues to you, your superannuation and your business.   Little has been released to date on the impending Budget beyond the tax on super balances above...

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to...

Taxpayers claiming deductions on holiday homes are in the ATO’s sights. The ATO is more than a little concerned that people with holiday homes are claiming more deductions than they should and have published the starting questions they will be asking to scrutinise...

Future earnings for super balances above $3m taxed at 30% from 2025-26 The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%. The concessional tax rate...