Our Latest Accountancy News

The ‘Super’ Wars

March 23, 2023

A consultation paper released by Treasury has sparked a national debate about the role, purpose and access to superannuation ahead of the 2023-24 Federal Budget. What is the purpose of superannuation? At first glance, the consultation released by Treasury in February titled Legislating the objective of Superannuation sounds innocuous enough. The consultation seeks to anchor…

What’s the Deal with Working from Home?

March 23, 2023

Heather Moore

Budget, Case Study, Information

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to use a new ‘fixed rate’ method (67…

hand holding piece of jigsaw puzzle with word FINANCIAL PLANNING

Why You Should Hire A Financial Advisor

February 16, 2023

Heather Moore

Insight, Money Talk

advice, Financial Planning

When it comes to managing your finances, getting the advice of a professional financial advisor can be beneficial. Financial advisors are highly trained professionals that specialise in helping people make sound decisions with their money. They can provide guidance on how to save for retirement, invest wisely and stay ahead of economic trends. A financial…

How good is ChatGPT at tax?

February 10, 2023

Heather Moore

Case Study, Insight

advice, ChatGPT

Not being paranoid or anything but we were curious about the skills of the latest innovation to take the world by storm, ChatGPT, and its ability to work with the Australian tax system. Let’s start by saying that we were impressed. Not so much by ChatGPT’s ability to work with the complexities of the tax…

Full throttle in 2023

February 10, 2023

Heather Moore

Budget, Information, Money Talk, Small Business, Spending

Business Plan, planning, strategy

In a volatile market, keeping to a strategy, or let’s face it creating one, can be tough. The downside of not taking time out for your strategy is that there is a tendency to keep a short-term focus at an operational level to try and pick quick wins to generate financial returns. Sometimes in the…

The ATO’s final position on risky trust distributions Copy

February 10, 2023

Heather Moore

Money Talk, Property, Self-Managed Super Fund

accountant, Trust Distributions

The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach. Section…

SMSF reporting changes from 1 July 2023

February 10, 2023

Heather Moore

Money Talk, Property, Self-Managed Super Fund

accountant, self managed super, SMSF

If you have an SMSF with a total balance of less than $1 million, from 1 July 2023 you will need to report quarterly to the ATO instead of annually. Previously, SMSFs with a balance under $1m reported annually at the same time as lodging the SMSF annual return.

Is ‘downsizing’ worth it?

February 10, 2023

Heather Moore

Money Talk, Property, Self-Managed Super Fund

accountant, property investment, Retirement

From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has reduced to 55 from 60, more people have an opportunity to use this strategy if it suits their needs. What’s a…

Is Investing In Property Still Profitable With Interest Rate Rises?

January 23, 2023

Heather Moore

Property Investment

accountant, property investment

There has been a lot of talk lately about interest rates rising and how this will impact investors in the property market. Many are wondering if property investment is worth it, considering that house prices have also been rising. So, is investing in property still profitable with interest rate rises? Let’s take a closer look.…

Hooded Computer Hacker Stealing Information With Laptop

Lessons from a Data Breach

October 13, 2022

Heather Moore

Case Study, Information, Small Business

The Optus data breach is top of mind for a lot of Australians, particularly those who have had their data breached. For business, the breach is a timely warning on the importance of understanding what data is held on your customers (and should you hold it?), how it is secured, how your systems work and…

The ‘Super’ Wars

What’s the Deal with Working from Home?

Why You Should Hire A Financial Advisor

How good is ChatGPT at tax?

Full throttle in 2023

The ATO’s final position on risky trust distributions Copy

SMSF reporting changes from 1 July 2023

Is ‘downsizing’ worth it?

Is Investing In Property Still Profitable With Interest Rate Rises?

Lessons from a Data Breach

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