The digital games and interactive entertainment sector is the largest creative sector in the world and one of the fastest-growing industries worldwide. The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021...
Employers & business The superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold –...
Bring forward the purchase of assets If there are large assets your business needs to buy (or upgrade), you have until 30 June 2023 to use the temporary full expensing rules. These rules enable businesses with an aggregated turnover of up to $5bn to fully deduct the...
It’s that time of year when we all look at what last-minute things we can do to maximise tax savings. In the wise words of the late Kerry Packer to a Senate estimates committee, “Of course, I am minimising my tax. And if anybody in this country doesn’t minimise their...
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of around $1 billion from incorrect...
The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice to the booming industry. In October 2022, OnlyFans CEO Ami Gan announced that...
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