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7 Critical Steps to Take When Receiving an Inheritance  

Properly managing an inheritance is crucial to ensure it benefits you and possibly future generations. Here are seven critical steps to take when you receive an inheritance:  1. Pause and Reflect...

How to Avoid Capital Gains Tax on Shares in Australia  

Investing in shares can be a great way to grow wealth. It is also important to have an accountant Melbourne by your side who can help you plan and strategize to save Capital Gains Tax (CGT). In...

Do You Have to Pay Tax on Gifted Money or Inheritance? 

When receiving money through a gift or inheritance, many people wonder whether they are required to pay tax on it. The answer is it depends. Let’s explore how gifted money and inheritance are treated...

What is a Hire Purchase Agreement? 

When businesses or individuals require assets such as cars, machinery, or computer equipment but cannot or prefer not to purchase them outright, a hire purchase agreement can be an ideal solution...

Day Trading and Tax in Australia – A Trader’s Guide 

Day trading has become increasingly popular among Australians, with many taking advantage of volatile financial markets to generate income. However, when it comes to taxation, day trading isn’t as...

Tax deduction denied for signature basketball shoe R&D

The Federal Court has denied a sports company’s appeal to claim research & development incentives for the creation of an Australian signature basketball shoe. The Movie Air highlighted the...

What is Personal Services Income vs Business Income? 

When it comes to running a business or earning income, understanding the distinction between Personal Services Income (PSI) and Business Income is crucial. This differentiation impacts how your income...

What’s ahead in 2025?

The last few years have been a rollercoaster ride of instability. 2025 holds hope, but not a guarantee, of greater stability and certainty. We explore some of the key changes and challenges. An...

Tax and tinsel Q&As

Can you avoid giving the Australian Tax Office a gift this Christmas? The top Christmas party questions What can I do to make the staff Christmas party tax deductible or tax-free? Not have one? Ok...
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