What’s ahead in 2025?

    The last few years have been a rollercoaster ride of instability. 2025 holds hope, but not a guarantee, of greater stability and certainty. We explore some of the key changes and challenges. An election Welcome to political advertising slipping into your social media, voicemail, and television viewing – most likely with messages from […]

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When Overseas Workers are Australian Employees

The Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer.   Like us, you are probably curious how a foreign national living in the Philippines, who had an ‘independent contractors’ agreement with an Australian company, could be classified as an Australian employee by the […]

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The ban on genetic test insurance discrimination

The ability for life insurers to discriminate based on adverse predictive genetic test results will be banned under a new Government proposal. Predictive genetic tests detect gene variants associated with heritable disorders that appear after birth, often later in life, but are not clinically detectable at the time of testing. To overcome concerns about discrimination […]

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The rise in business bankruptcy

ASIC’s annual insolvency data shows corporate business failure is up 39% compared to last financial year. The industries with the highest representation were construction, accommodation and food services at the top of the list. Restructuring appointments grew by over 200% in 2023-24. Small business restructuring allows eligible companies – those whose liabilities do not exceed […]

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The Changes to How Tax Practitioners Work with Clients

The Government has amended the legislation guiding registered tax practitioners to include compulsory reporting of material uncorrected errors to the Tax Commissioner. The Government has legislated a series of changes to the Tax Agents Services Act 2009 that place additional requirements on registered tax practitioners and how they interact with clients. The reforms are in […]

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Earned an income from the sharing economy?

It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return. Since 1 July 2023, the platforms delivering ride-sourcing, taxi travel, and short-term accommodation (under 90 days), have been required to report transactions made through their platform to the ATO under the sharing economy […]

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Helping your new business understand taxable payments reporting

Taxable payments reporting – what it means for you We want your new business to have the best chance of success, so we’re letting you know about the taxable payments reporting system (TPRS) and what it means for you. TPRS applies to businesses that make payments for the following services: building and construction cleaning courier […]

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The Essential 30 June Guide, For Your Business

The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. For your business Opportunities Bonus deductions There are a series of bonus deductions available to small business in 2023-24, these include the instant asset write-off, energy incentive, and the […]

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