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Are Offset Accounts Worth It? Pros, Cons & Key Insights
Discover the tax implications of offset accounts for investment loans. Save on interest and stay compliant. Receive expert accounting advice from New Leaf Advisory
Refinancing a Loan: Tax Implications and Common Mistakes to Avoid
Refinancing a loan is a common step in financial management that can provide significant benefits, such as lowering monthly payments, obtaining a lower interest rate, or...
How to Avoid Common Mistakes When Paying Employees’ Super
Managing superannuation payments correctly is crucial for employers to ensure compliance with legal obligations and to support their employees' retirement savings. Mistakes...
CFO in focus part 1- Attention to transactions – setting up for success
CFO series – the foundations of effective management reporting For effective management reporting from a CFO’s perspective, we believe there are 3 foundational ingredients:...
Small Business CGT Concessions – A Practical Guide
This blog post seeks to outline some of the more typical circumstances where the small business Capital Gains Tax (CGT) concessions apply. So, if you are a small business...
Special Professionals and Income Averaging; are you eligible?
Some categories of taxpayers, known as “Special Professionals”, may be eligible for concessionary tax treatment by the ATO due to inconsistent levels of income on an annual...
Crypto-asset Recordkeeping for Taxation Purposes
Following on from Crypto Currency - what you need to know, here’s the crypto-asset record keeping that the Australian Taxation Office (ATO) will expect from you. Regardless...
Crypto Currency – what you need to know
Whilst a relatively new area in finance, particularly for retail investors and large financial institutions, crypto currency is currently front and centre for the Australian...
Division 7A Changes – What You Need to Know for Private Companies
The Australian Taxation Office (ATO) has updated the rules for Division 7A (Div-7A), an important part of taxation law for private companies. These changes affect how loans,...
If any of these articles raise questions about your own situation, our team can help you understand the implications and explore the right next steps.
Family Trust Distributions Under the ATO Microscope
New ATO guidance may change how family trust distributions with reimbursement agreements are taxed. Learn what TR 2022/D1 means and how it could impact your situation.
JobKeeper from 28 September 2020
The first tranche of JobKeeper ended on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. To...
JobKeeper 2.0
Between April to May 2020, JobKeeper was taken up by 920,000 organisations and around 3.5 million individuals – 30% of pre-Coronavirus private sector employment. On 21 July...
The Tax Platform for 20/21
The new financial year has arrived and here’s a few things to be immediately aware of: For Individuals: Tax Time 2020 – the ATO have indicated that they will start full...