A primary producer plays a vital role in the economy by engaging in agricultural, horticultural, fishing, forestry, and livestock activities. Whether you’re a farmer, a fisherman, or involved in any form of natural resource production, this blog will help you understand your tax and ATO obligations. In this blog, we’ll break down what it means […]
What is a Primary Producer? Tax, Tips, and Advice Read More »
Global Google searches for the word “tariffs” spiked dramatically between 30 January and 2 February 2025, a +900% increase to the previous 12 months. We look at what tariffs really mean. Who pays for tariffs? Tariffs increase the price of imported goods and reduce trade flows of that good or service. Traditionally used to
Trade wars and tariffs Read More »
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees. FBT exemption for electric cars Employers that provide employees with the use of eligible electric vehicles (EVs) can potentially qualify for an FBT exemption. This should normally be the case where: The car is a zero
Fringe Benefits Tax (FBT) 2025: What you need to know Read More »
When it comes to structuring a business or managing tax obligations in Australia, a bucket company is a term that often comes up. But what exactly is a bucket company, and how can it be used effectively in tax planning? Understanding a Bucket Company A bucket company is a company set up to receive and
What is a Bucket Company in Australia? Read More »
Cryptocurrency taxation is a topic that often confuses investors and traders. Many people assume that they only need to pay tax when they cash out their crypto into fiat currency, but in reality, the Australian Taxation Office (ATO) has clear guidelines that extend beyond just cashing out. In this blog, we’ll break down when tax
Do You Only Pay Tax on Crypto When You Cash Out Read More »
Transition to Retirement (TTR) is a popular financial retirement planning strategy in Australia that allows individuals aged 55 or older (depending on their preservation age) to access their superannuation while continuing to work. While TTR can offer benefits such as reducing work hours without sacrificing income (because one can draw upon their superannuation to compensate
What Are the Disadvantages of Transition to Retirement? Read More »
Debt recycling in Australia is a financial strategy used to convert non-deductible debt (e.g., a home loan) into tax-deductible investment debt over time. It is commonly used by homeowners and investors to minimise tax and build wealth. While reading this blog, please note that your business accountant Melbourne can assist in implementing a debt recycling
What is debt recycling in Australia? Read More »
For many business owners, making informed decisions about vehicle purchases is important to maximizing tax deductions. One critical aspect is the car depreciation limit, which sets the maximum value that can be used to calculate depreciation deductions for passenger vehicles. For the 2024–2025 financial year, this limit has been updated—and understanding what it means for
Car depreciation limit for 2024-2025 Financial Year Read More »
Commercial debt forgiveness is a financial concept that occurs when a creditor (the lender) formally forgives or cancels a debt owed by a business or individual to themselves. In simple terms, it means that the debtor (the borrower) is no longer legally required to repay the outstanding amount. This can happen for various reasons, including
What is Commercial Debt Forgiveness Read More »
When making payments of interest, dividends, or royalties, it is crucial to understand resident withholding tax (RWT). Understanding Resident Withholding Tax (RWT) on Interest Resident withholding tax on interest applies when a financial institution or business pays interest to a resident taxpayer and that resident taxpayer has not reported their tax file number to the
What is Resident Withholding Tax on Interest Paid? Read More »
