Non-charitable not-for-profit (NFP) with an active Australian business number will need to lodge their annual NFP return to self-assess as income tax exempt from the 2023–24 income year.
“Experience is one thing you can’t get for nothing.” Oscar Wilde
A new issues paper from Treasury’s Competition Review questions whether non-competes and other restraints are limiting job opportunities and movement.
For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart?
The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax.
The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero.
The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.
Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed.
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change.
The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024.
It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications.