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How Do High Income Earners Reduces Taxes in Australia

High-income earners in Australia are one of the highest taxed in the Western World. Those earning over $180,000 are subject to a 45% marginal tax rate, plus the Medicare Levy. Fortunately, several...

The Benefits of Shared Office Spaces in Melbourne

Shared office spaces have gained immense popularity in Melbourne in recent years, transforming the way people work and collaborate. With its bustling business scene and thriving entrepreneurial...

What changed on 1 July 2023

Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee...

10 Essential Tips for Choosing the Right Accountant in Melbourne

Selecting the right accountant can be crucial for your future success. By choosing the right accountant in Melbourne, you are choosing an accountant who understands tax legislation, business...

‘OnlyFans’ Tax Risk Warning

The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice to the...

The ATO’s final position on risky trust distributions

The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate...

Is ‘downsizing’ worth it?

From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the...

Full throttle in 2023

In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough. The downside of not taking time out for your strategy is that there is a tendency to keep a short-term focus...

How good is ChatGPT at tax?

Not being paranoid or anything but we were curious about the skills of the latest innovation to take the world by storm, ChatGPT, and its ability to work with the Australian tax system. Let’s start by...
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