Jun 18, 2024 | Inflation, Interest Rates
The Reserve Bank has handed down its latest interest rate decision following higher than expected inflation data. The Reserve Bank of Australia has decided to keep the cash rate target on hold at 4.35 per cent following the latest Reserve Bank Board meeting. The...
May 9, 2024 | Self Managed Super Funds, Small Business, Superannuation
The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices. ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these...
Apr 26, 2024 | Business Valuations, Small Business
For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high value business apart? Every business owner is naturally curious about...
Apr 12, 2024 | Fringe Benefit Tax, Taxation
The Fringe Benefits Tax year (FBT) ended on 31 March. We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to...
Mar 25, 2024 | Self Managed Super Funds, Small Business, Superannuation
A major update to the SBSCH means perfect alignment between employees’ super details and those recorded by the ATO will be critical, says the SMSF Association. The SMSF Association has emphasized the significance of ensuring that employees’ superannuation...
