The capital gains tax (CGT) rules provide a lot of important concessions where a capital gain arises in unusual or unexpected circumstances. One such concession is the rollover where a CGT asset (or part of one) is lost or … Read Full Story
Following a government media release on the same day, the ATO on 1 April 2026 announced that eligible taxpayers who are experiencing difficulties in paying their tax debts due to recent high fuel prices can apply to the ATO … Read Full Story
Even before the current war in the Middle East, the Budget has clearly been under some pressure. Recent comments from various government sources suggest that changes to the tax rules around investment properties could be under serious consideration. So, … Read Full Story
Three recent Administrative Review Tribunal (ART) decisions on claims for car expenses have shone a light on what the law requires in relation to car logbooks. Where you use your car for business purposes, there are two ways of … Read Full Story
CGT still applies even if you are “forced” to sell an asset During the COVID pandemic years, we all suffered in one way or another – in particular the small businesses who relied on customers coming through their doors. … Read Full Story
What it means for you From 1 July 2026, the amount you can contribute to super will increase, creating new opportunities to boost your retirement savings. The annual concessional contribution cap will rise from $30,000 to $32,500. These are … Read Full Story
Granny flats are becoming more of a common feature of the urban environment. No doubt this is due to the ongoing and unremitting nature of the housing affordability crisis, and the relaxing of regulations about where and how they … Read Full Story
There’s been a lot of talk about changes to super, and one of the biggest updates is now official. The government has passed the Division 296 tax, which will start from 1 July 2026. While it mainly affects people … Read Full Story
With the due date for FBT returns coming up, the following non-exhaustive checklist may prove useful in determining whether you as an employer have an FBT liability. Although it will generally fall to your accountant to prepare the FBT … Read Full Story
The Commonwealth Seniors Health Card (CSHC) can be valuable for many self-funded retirees, helping reduce out-of-pocket health costs (for example, cheaper PBS medicines and other concessions). But it’s income tested, and an upcoming rise in deeming rates may affect … Read Full Story
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