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Last week the Government released the 2023-24 Mid-Year Economic and Fiscal Outlook (MYEFO), which contained 2 tax changes worth noting. Here we have outlined these changes so you can understand what they mean to ensure you are ready for what’s next. Read more
Paul Dimasi gives an update on our corporate partnership with MBA being renewed for another year! Read more
COVID-19 has seen more people enjoy holidays locally, this means rental holiday homes are also being used for personal use more than ever. Due to recent changes in tax legislation, they may no longer be 100% tax-deductible. Read more
Business needs to consider what the future looks like post COVID-19. Below is a short accounting and tax health checklist of items for your consideration. Read more
Property features in the affairs of almost all our clients, and it often represents a significant part of their wealth. So we’re naturally on alert for any impact on property from changes to tax law. Parliament passed new laws with effect from 1 July last year that deny deductions for expenses relating to holding “vacant land”, even when it’s held for an income-producing purpose, such as development for sale, or building a commercial or residential rental property. Read more
In today’s electronic environment, the ATO uses computer assisted verification techniques to analyse records and makes extensive use of data matching to determine whether income is being under-reported (and deductions over-claimed) by comparing data obtained from third parties. Read more