Now more than ever it is important for businesses to be honest and forthcoming with their income as the ATO is ramping up its scrutiny of small business tax affairs through the tax gap audit program. The regulator has a constant growing wealth of data and...
If you are a landowner, you may be eligible for the land tax relief measures the Queensland government introduced in response to COVID-19. The following measures have been extended for the 2020-2021 assessment year. Deferral of Land Tax Liabilities Land tax liability has been deferred for three...
The COVID-19 Pandemic has had a significant impact on Australians and the economy. The 2020 Federal Budget was delivered on the 6th of October, with Scott Morrison describing it as the Budget Australia needed. With support for economic growth as the top priority, the budget...
The Federal Government has now announced (as part of its Coronavirus Stimulus Package) the introduction of a new JobKeeper Payment to assist eligible employers (and self-employed individuals) who have been impacted by the Coronavirus pandemic to continue to pay their workers.Below is a broad summary...
With their sponge-like young minds, teaching your children how to understand, budget and save money from a young age will provide them with invaluable skills they will utilise for the rest of their lives. By setting the right examples and working with your children to...
Moving in with your partner is an exciting time for all couples. You are ready for the next chapter in your lives together and everything that entails, but you need to think carefully about how you’re going to handle your finances as a couple. Without...
As usual, it’s time to organise your EOFY tax return, but it might be different this year. That’s because the ATO is now using cryptocurrency data matching to identify false tax deductions. While they are still keeping an eye on work-related expenses and asset write-offs,...
Have you taken advantage of the surge in shared accommodation properties in Australia, renting a room or an entire house for a boost in your income? If you thought you could get away without declaring said income, you might be in for an unpleasant surprise.The...
At Conrad Carlile, we think it is important for everyone to understand how the budget affects you. There are so many aspects that aren’t important, but how does it affect the small business owner from a wealth management perspective? We’ve written up a few of...
When tax time rolls around, you have so much on your plate that it’s hard to remember every little piece of information you need to disclose or prepare for your tax. There are so many aspects of your business that can be affected at tax...