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2022 Year in Review

2022 was the year of rising interest rates to combat surging inflation, war in Ukraine and recession fears. These factors combined to create cost-of-living pressures for households and a downturn in share and bond markets.

Up For Discussion: New Tier 3 Reporting Framework for Not-for-profits

The removal of Special Purpose Financial Statements has already happened for many for-profit organisations, and is now a step closer for not-for-profit organisations.

Spreading some (tax-effective) Christmas cheer

With Christmas around the corner, what is the tax impact of various Christmas or holiday related gestures? Here are some things to consider.

Director ID Numbers – Deadline extended

In light of the large number of directors who have not yet applied, the deadline to obtain a Director ID Number has been extended to 14 December 2022.

Lessons from a data breach

The Optus data breach is top of mind for a lot of Australians, particularly those who have had their data breached. Others who were untouched by that breach have been caught up in the recent Medibank breach.

Victorian Land Tax Changes for Charities

The Victorian State Revenue Office has released Land Tax Ruling LTA-009 in relation to land owned by a charity. This ruling is more extensive and restrictive than the earlier Land Tax rulings it replaced.

Budget October 2022: sign of the times

In his first Budget, Treasurer Jim Chalmers used the opportunity to update the shifting economic sands and reset spending priorities to align with the new government’s policy agenda.

A Will to give

As baby boomers shift into retirement, Australia is on the brink of the nation’s biggest ever intergenerational wealth transfer. Yet estate or inheritance planning is rarely discussed by families.

New QLD Land Tax rules – Now dumped

Queensland Premier Annastacia Palaszczuk has announced that its controversial land tax, which was to be calculated taking into account the total value of an owner’s Australia-wide land holdings, is to be dumped.

Help for first home owners

The First Home Super Saver Scheme (FHSS) provides an opportunity for Australians to increase their savings towards buying their first home. In a time of high housing prices, could this be for you?