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Effective 1 July 2021, Capital Gains Tax (CGT) will not apply to eligible granny flat arrangements. The CGT exemption requires: The owner/s of the property to be individuals; Eligible person/s to have eligible granny flat interest/s in the property; and A written and...

Extraordinary Disaster Assistance Recovery Grants - South East Queensland Rainfall and Flooding Businesses - Grants of up to $50,000 are available for affected small businesses following the South East Queensland Rainfall and Flooding to hire or purchase equipment and...

There have been a number of fiscal initiatives aimed at enhancing the economic climate, boosting investment and personal wealth. We look at some of these initiatives below:   First Home Super Saver Scheme – from 1 July 2022, eligible individuals will be able to...

Due to frequent COVID lockdown’s, the ATO has confirmed the extension of the work-from-home shortcut method until the end of June 2022. This means you are still able to claim 80 cents for every hour you worked from home. When claiming this shortcut method, you cannot...

On 11 May 2021, as part of the 2021–22 federal Budget, the Australian Government announced it will remove the $450 per month threshold to expand coverage of super guarantee to eligible employees regardless of their monthly pay. This change is now law. From 1 July...

The FBT year is upon us…  Fringe Benefits Tax (FBT) relates to benefits provided to staff outside of their wages such as cars, housing, parking or meal entertainment. The FBT year runs from 1 April to 31 March and the tax is paid for by the employer irrespective of...

It has been common practice for employers to set-up superannuation accounts for employees who do not provide their superannuation account details. This practice has led to many employees having multiple superannuation funds and paying unnecessary fees on these...

Did you know the Australian Tax Office have a podcast. Tax inVoice is an easy way to keep updated about the latest tax and super information and how you can meet your obligations. You can listen on the ATO website here, or find it on platforms including Apple Podcasts...

A common part of running a business is hiring workers. Just like when you hire employees, when engaging contractors, there are important steps you must take to ensure you are meeting your business obligations. We have included below a simple checklist to follow when...