Navigating: The Scoop on Fuel Tax Credit Rates for Businesses

Fuel tax credit rates, a crucial aspect of business finances, undergo regular changes, making it imperative for businesses to stay informed and apply the correct rates.

The Scoop on Proposed Changes to Stage 3 Income Tax Cuts

In a strategic move to reshape individual income tax structures, the government has laid out a proposal that promises significant alterations to the legislated "Stage 3" tax cuts. Brace yourselves for the lowdown on these anticipated modifications and their potential impact on your financial landscape.

In: Tax

Navigating Updated Reporting Requirements for Not-for-Profits

In a shift towards clearer compliance measures, not-for-profit entities operating with an active Australian Business Number (ABN) will now be required to lodge a NFP self-review return to maintain access to income tax exemption from the 2023–24 financial year onwards.

In: Tax

2023 UVA Update: Your Guide to Maximizing Land Tax Benefits

This article focuses on a recent change in the land tax rules in New South Wales, specifically regarding unutilised land value allowances (UVA).

Land Tax in NSW
Before we go deeper into the specifics, let's ensure we have a solid understanding of the fundamentals.
Land tax is a fee imposed on the value of your land, and it's a significant part of state revenue. The rules governing this in NSW are in the Land Tax Management Act 1956.

In: Land Tax

NSW Enacts Revenue and Fines Bill with Notable GP Payroll Tax Adjustments

In an exciting turn of events, the corridors of the New South Wales Parliament have witnessed a transformative development with the passage of the Revenue, Fines, and Other Legislation Amendment Bill 2023 (NSW). This landmark legislation carries pioneering amendments that are poised to revolutionize the taxation landscape and redefine how breaches of confidentiality are handled. Let's delve into the essential highlights of this momentous legislative stride:

In: Tax

Unveiling the Taxation Conundrum: A Case Study on Delayed Bonus Payments

In a recent legal precedent, the Administrative Appeals Tribunal (AAT) made a momentous ruling concerning the taxation of delayed bonus payments. This ruling brings to light the intricate timing intricacies that dictate the taxability of such payments, especially when a taxpayer's residency status undergoes a shift between entitlement and reception. In this blog post, we will delve into the particulars of the case, examine the arguments put forth, and elucidate the outcome of the AAT's verdict.

In: Tax

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