If you carry on your business affairs through a trust structure, there is now more clarity around the law on distributions following much uncertainty throughout the year.

With car fringe benefits one of the most common benefits provided by employers to employees, a new ATO fact sheet shines more light on the FBT exemption for electric vehicles.

Individuals with large superannuation balances may soon be subject to an extra 15% tax on earnings if their balance exceeds $3m at the end of a financial year.

ASIC has released fresh and timely information around crypto scams.

The Government has welcomed the actions of an ATO-led taskforce in relation to what is termed “the biggest GST fraud in Australia’s history”.

Did you know there is around $16 billion in lost and unclaimed superannuation across Australia? The ATO recently indicated this is an increase of $2.1 billion since last financial year and is urging Australians to check their account to see if some of the money is theirs.

With the end of the FBT year approaching, are your car logbooks in order?

The ATO is encouraging accountants to educate clients around varying PAYG instalments – this can potentially assist cashflow.

It’s been a particularly difficult 12 months for investors.

On 20 February 2023, Treasury released a consultation paper on legislating the purpose of superannuation. This is an idea that has been around since 2016 when the former Coalition government contemplated doing the same thing.

Are you one of the five million Australians who claim work from home deductions? If so, stricter record-keeping rules may now apply.

The 2022-23 federal Budget was handed down on 25 October. The confirmation of lucrative income tax cuts, and the scrapping of a tax offset for low- and middle-income earners were the big-ticket items.

Do you have your own business or are you thinking of starting one? If so, you may need to pay yourself superannuation depending on your business structure.