NEWS & INSIGHTS
$20k Small business energy incentive
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000. The Small Business Energy Incentive encourages small and medium businesses with an aggregated turnover of less...
The low and middle-income tax offset changes
More than 10 million middle-income Australians will face one of the largest tax increases in history after the May federal budget, as households deal with rapid increases in interest rates and cost-of-living surges. It is believed that Treasurer Jim Chalmers will not...
Pros and cons of earn-out clauses
Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider. Business transactions often include earn-out clauses where the vendors ‘earn’ part of the purchase price based on the...
Company money
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right? There a myriad...
Tax on electric cars
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric cars. The FBT exemption for electric cars If your employer provides you with the use of a car that is classified as a...
Budget 2023-24
The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update the next day on the important issues to you, your superannuation and your business. Little has been released to date on the impending Budget beyond the tax on super balances...
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