The ATO will acquire rental bond data from State and Territory rental bond regulators bi-annually for the 2024 to 2026 income years, including details of the landlord and tenant, managing agent identification details, and rental bond transaction details. The objectives of this program are to (among other things) identify and educate individuals and businesses who […]
Division 7A of the tax legislation is intended to prevent profits or assets being provided to shareholders or their associates tax free. A payment or other benefit provided by a private company to a shareholder or their associate can be treated as a dividend for income tax purposes under Division 7A, even if the participants […]
The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes). Foreign resident capital gains withholding is relevant for all vendors selling certain taxable real property (e.g., Australian land). Even Australian residents can be caught by these laws because, if they do not have a valid ‘clearance certificate’ […]
If your business was hit by the destructive forces of Tropical Cyclone Arthur during 1-16 March 2025, there’s now additional disaster recovery funding open to Queensland small businesses. Here’s the lowdown on who’s eligible, how much you can claim and what the process is for putting through a claim for funding. Who’s eligible for the […]
As reiterated in the recent Federal Budget, the Albanese Labor Government is extending protections against unfair trading practices to small businesses. This initiative acknowledges the power imbalances you may sometimes experience as a small business dealing with larger entities that have more buying power. But what do these protections actually mean for your company? What […]
In the 2025 Federal Budget, the Albanese Labor Government made a promise to extend the existing $20k instant asset write-off, if elected. So, what is the instant asset write-off and how could it be helping your business? What is the $20k instant asset write-off? The $20,000 instant asset write-off is a tax measure that allows […]
The Australian Labor Party won the 2025 Federal Election with a convincing majority on 3 May. This means Labor has another three years to continue its plans for supporting Australian enterprise, making life easier for small businesses and boosting the use of digital technologies. Let’s look at the main policies that could have a positive […]
Small businesses on the East Coast may find their electricity bills rising by between 4.2 and 8.2% in the coming months. That’s the big news from a new draft determination by the Australian Energy Regulator (AER) for electricity prices in 2025-26. Power is a major outlay for any small business, so a steep rise in […]
Uncertainty can be a major threat to your strategic financial planning. Being unsure of what lies around the corner makes it difficult to make those important financial decisions around operational budgets, investment and growth funding. But by using forecasting and scenario-planning, you make it easier to manage your finances and reduce some of the financial […]
A business budget is one of the essential tools in managing your business finances and actively building your business. A budget shows what you plan to do with your cash over the next year. For a complete picture of your business health, you need to review the profit and loss statement, the balance sheet, the […]