• Your SMSF: When Expenses and Investments Are Not at Arm’s-length
    We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members). We’ve set out some of the common questions and answers. […]
  • hands-resignation-letter-2
    The Top 8 reasons Why Staff Leave
    Australia is facing a shortage of skilled labour. When the supply of staff dry up the focus often turns to retention. But, the first step is to understand why people you want to stay, choose to move on? Change in leadership – Leadership vacuum or concern about the impact of […]
  • ATO tax tables
    ATO Touts New Account Viewing
    In an update from the ATO, it outlined that it had made a number of improvements for tax professionals to “make it easier” to view clients’ accounts in online services for agents. The changes detailed in the update include the development of a single system for activity statements and franking […]
  • Australian Tax Office
    ATO Signals Crackdown on 4 Ineligible Work-From-Home Claims
    The ATO on Thursday urged all taxpayers to be aware that, while the temporary shortcut method will remain available to those claiming work-from-home deductions this year, personal and occupancy expenses, among others, cannot be claimed through any method. Personal expenses like coffee, tea and toilet paper — while may be made […]
  • benefits-of-working-from-home
    Taxpayers Urged to Keep Work-From-Home Records
    Although Australia has fared well throughout COVID, our working patterns have changed in step with the rest of the world, as expected,” said David Tomasi, chairman of Moore Australia. “It is important that Australians are aware of their entitlements under the ‘new normal’.” While tax agents should be advising their […]
24 July 2018

Property tax changes catching clients out this tax time

So far this tax time, clients in their droves are surprised to find out about changes to deductions of travel expenses and plant and equipment depreciation in relation to their investment properties, according to H&R Block. Late last year, new rules around tax deductions for travel expenses associated with residential […]
5 June 2018

Is Money from a Loan Considered Income?

  Learning what incomes to pay tax on is important because the Australian Taxation Office (ATO) penalises taxpayers who incorrectly lodge their income tax return. With the large number of rules concerning financial transactions and taxes, a person receiving loan money could get confused about their tax responsibilities. Does money […]
14 May 2018

The Golden Rules for Work-Related Tax Deductions

The Australian Taxation Office is cracking down on cheeky taxpayers, arguing that it’s not fair for tax-dodgers to expect others to fork out for the bill. ATO assistant commissioner Kath Anderson has said that 2018 is the year in which the ATO shines a spotlight on work-related deductions that aren’t […]
19 March 2018

Taxation Affecting Your Business

If you were employed before you started your business, you’ll find that your tax affairs now become a lot more complicated. Various federal, state and local government taxes and rates can apply, depending on the size and location of your business. While you pay tax on your income, you can […]
22 January 2018

2018 Australian Tax Year Key Dates

The Australian fiscal system can seem daunting, especially if you’re emigrating there for a permanent work position and are due to start paying taxes there for the first time. However, unlike countries such as the US where tax season is essentially year-round, Australia’s only really runs from the 1 July […]
11 September 2017

Tax Responsibilities of a Small Business Owner

A number of Federal and State taxes and duties apply to businesses of all types, including small businesses. This article focuses on other tax responsibilities of small businesses including record keeping obligations, reporting obligations, PAYG withholding, superannuation and paying tax. Record Keeping Every business taxpayer must keep records of all […]
24 April 2017

GST on Uber Taxis

The ATO announced on the 20th of May 2015 that Uber drivers must register for GST. They’ve determined that under GST law, Uber, and by extension all rideshare services, meet the definition of a taxi service. This is significant because taxis have different GST rules to any other small business. […]
17 October 2016

Small Business Taxation

Small Business Tax can seem like a foreign language, especially when there are so many grey areas. Melbourne Accountants of Nobel Thomas has provided a general list of small business tax do’s and don’ts. DO – Begin with the end in mind To determine the right structure for your business […]
5 October 2016

Simple Tax Minimisation Strategies

Melbourne businesses may not be too keen on welcoming June. After all, the last day of which is also the end of the country’s financial year. It’s the time of the year when business owners are busy implementing their last minute tax planning strategies. Well, this shouldn’t be too complicated […]
Book Consultation