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In June 2022, a milestone policy was included in the NSW Government Budget to offer first home buyers the choice to pay a one-off lump sum tax (‘stamp duty’) or an annual land tax when purchasing homes under a certain value. The legislation for this policy is planned...

With tough times facing individuals, such as bank foreclosures and retrenchments, the rising cost of living pressures and mortgage defaulting, some people might get caught up in illegal schemes to take their money out of super. Promoters of illegal schemes single out...

The only two certainties in life are death and taxes, or so the saying goes. Some may believe that the Australian Taxation Office (ATO) lives by that as its mantra. However, sometimes they may make a decision that we as tax professionals and your trusted advisers may...

The type of cover, deductibility of premiums and treatment of claims make life insurance a complex topic for tax. It’s a topic that professionals and businesses alike seek assistance from accountants. The deductibility of premiums and treatment of claims payouts can...

It’s a common misconception that working two or more jobs will increase the tax you pay at the end of the year. However, the Australian Taxation Office (ATO) only needs to know much your total taxable income is. They do not care how many jobs you have or how many...

OVERVIEW The Government has referred to this as a Budget that is solid, sensible and suitable for the times, with a significant focus on trying to address cost of living pressures. The announcements made in this area may not be readily obvious, as it is not a Budget...

Are you a resident of Australia for tax purposes? While the answer may seem simple to you, in the eyes of the ATO it can be a complicated matter entirely. Being an Australian resident for tax purposes is not necessarily the same as being an Australian resident for...

Businesses directly impacted by the Victorian floods that commenced in October 2022 can access a one-off grant of $5000 to cover immediate expenses. To be eligible Businesses must be located within an eligible local government area and must have incurred significant...

These days, your tax return is almost like an honesty test. From Centrelink payments to health insurance, child support to bank interest, the ATO sees all and seemingly knows all. This is because of the amount of information that is provided to them through...

The weather in Australia can be unpredictable, resulting in intense conditions that can cause damage and harm to their surroundings. Over the last few years, extreme weather conditions (such as fire, floods and intense storms) in some parts of the country have...