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Income Tax Articles

30% tax on super earnings above $3m

Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances above $3m from 15% to 30% from 1 July 2025.

The ‘Airbnb’ Tax

Property investors that choose to utilise their property for short-term stays (or leave it vacant) are firmly in the sights of the regulators.

Redrawing Investment Loans

Interest on investment loans is being highly scrutinised by the ATO, with redrawing of funds from investment loans being a particular area of culpability.

New ATO Guidance – Technology Investment Boost for small business

Most businesses are investing more and more resources to digitise their operations - does your business qualify for a bonus deduction?

Medicare Levy Exemption? Don’t Delay

At 2% of your taxable income, the Medicare Levy may not seem like a huge amount, but why pay for something you may not need to?

Tax amnesty for small business

The small business amnesty allows small businesses to bring their outstanding tax returns and business activity statements up-to-date, without incurring a late lodgement penalty.

What’s New in 2023? Key tax changes to be aware of

As we kick off the new tax season, it's essential to be aware of the latest tax changes that may impact your 2023 tax return.

Time running out on Temporary Full Expensing

The current concession which allows businesses to claim an immediate deduction for unlimited capital expenditure will come to an end on 30th June 2023.

Tax & The Family Home

Most family homes would be exempt from Capital gains tax (CGT), but there may be circumstances which may make the sale of the home taxable.

Let’s get digital!

The ‘Small Business Technology Investment Boost’ is currently sitting with parliament, but with a potential 20% bonus deduction to businesses, it could represent a timely boost amidst rising costs.

Changes to work from home tax claims

With the continuing trend towards working from home arrangements, the ATO has renewed the way taxpayers can claim deductions for costs incurred when working from home.