Private health insurance rebate frozen
Is your private health insurance getting more expensive every year? This could be the sneaky reason why... The government has once again quietly sought to freeze the private health insurance income thresholds for the private health insurance incentive, this time for...
ATO target rental property owners
Rental property owners beware, the ATO has commenced 2 data-matching programs designed to obtain a myriad of information to ensure that various income tax reporting obligations have been met. Specifically, the ATO will run a new data-matching program to collect...
Facing financial difficulty?
Can I be released from my tax debts when facing financial difficulty? As the economy adjusts to the removal of most government COVID support measures, coupled with the slow rollout of national vaccination and mostly closed international borders, there is no doubt that...
2021 Fringe Benefits Tax Return due soon
The 2021 Fringe Benefits Tax return for the period 1 April 2020 to 31 March 2021 is due soon. For those businesses that prepare their own returns, lodgment of the return can be made up until 25 June 2021 without incurring a failure to lodge on time penalty. Although...
Life insurance in super: costs on the way up?
It is estimated that around 70% of Australians with life insurance hold it through their super fund. Having insurance through your super fund is tax-effective and has various advantages such as having cheaper premiums and usually having fewer health checks. Most funds...
Financial help for relocation of job seekers
The government is now offering relocation assistance of up to $9,000 to help job seekers. Need help to relocate to take up a job? Job seekers can now take advantage of the government’s relocation assistance of up to $9,000 when they relocate to take up on-going work,...
Boost your super
Did you know you can boost your super with a co-contribution from the government? If you’re a low or middle-income earner, you can take advantage of the government super co-contribution scheme to boost your super. The scheme works like this, for eligible individuals,...
Benefits of Family Trusts
Many of you have heard of family trusts, but perhaps don’t know too much about their benefits and how they differ from the usual non-fixed trusts. Essentially, a family trust is a trust where the trustee has made a valid family trust election (FTE) for tax purposes....
Travelling for work… what’s deductible?
Did you use to do a lot of travelling for work... before everything changed last year? As we move to a post-COVID world where borders, both domestic and international, start to open back up, the issue of deductibility of certain business travel expenses are again back...
Superannuation Death Benefits
Do you know what happens with your superannuation funds if you pass away before using them? While we’re dutifully putting money into our super in the hopes of making our retirement more comfortable, many of us have not considered the possibility that we may not be...