Aug 23, 2024 | Capital Gains Tax, Rental Income, Taxation
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s never that simple. As the character of Darryl Kerrigan in The Castle said, “it’s not a house. It’s a home,” and the...
May 24, 2024 | Federal Budget
Here’s the reaction from Business Hunter about the recent Federal Budget and what it means for the Hunter Region. [There is a link to the original media release at the bottom of this page.] Federal Budget More of the Same The region’s peak business organisation,...
May 17, 2024 | Federal Budget, Inflation, Taxation
The Federal Budget for 2024-25, the third handed down by Treasurer Jim Chalmers, delivered a back-to-back surplus for the first time in nearly 20 years built on high commodity prices and strong employment. Key features of this Budget include modified stage 3 tax cuts,...
May 2, 2024 | Taxation, Trust Accounts
The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative Appeals Tribunal demonstrate how serious the Australian Taxation Office (ATO) is about making sure professional...
