Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025 The Act received Royal assent on 4 December 2025 and is now law. It extends the $20,000 instant asset write-off for eligible small businesses with turnover under $10 million by 12...
Division 296 Exposure draft legislation has been released by the government for consultation on the Better Targeted Super Concessions measure announced in October 2025. Schedules 1 and 3 of the draft Bill, along with the draft Imposition Bill, propose the introduction...
Personal Services Businesses and Part IVA The Practical Compliance Guideline PCG 2025/5 has been released by the ATO, which explains when arrangements are considered low risk or high risk for the application of Part IVA. The guideline focuses on scenarios where...
In this blog, we’ll discuss how business owners can claim a tax deduction for employee salaries, wages, and super contributions. When Can You Claim a Deduction? As a business owner, you can apply to claim a tax deduction for: the wages and salaries you pay to...
You can claim tax deductions for business travel expenses. Now, you may be wondering: What expenses can I claim? In this blog, we’ll discuss expenses that you can claim and what expenses cannot be considered business travel expenses. What Expenses Can You Claim? As a...
If you are running a business in Australia, you can claim a tax deduction for the cost of digital products that are used in running your business. Let’s explore more about tax deductions for digital product expenses. Understanding Deductions for Digital Product...
You might be wondering what the consequences can be if you charge GST incorrectly on a sale and include excess GST in your BAS. Incorrectly Charged GST Excess GST is when you treat something as taxable incorrectly and include GST for it in your business activity...
If you or your business receives personal services income (PSI), you may have to meet certain PAYG withholding obligations. Under the Pay As You Go (PAYG) withholding rules, you need to collect tax from payments made to employees and some businesses so they can meet...
As an employer, you need to meet your super obligations to ensure that you are contributing towards the financial future of your employees. You are liable to pay the super guarantee on time at the correct rate and to the right fund. What is Super Guarantee...
Before we discuss which GST errors cannot be fixed, you must know what a GST error is, how to correct it, and the types of GST errors. What are GST Errors? A GST error refers to a mistake related to the GST credit, the amount of GST, or a GST adjustment. You might...