Reading Room - Accounting
The ATO has released a draft ruling that changes how inherited homes are treated for capital gains tax (CGT). What are they and will they impact your family?
Division 296 imposes an additional personal tax on individuals whose total superannuation balance (TSB) exceeds $3 million. It takes effect from 1 July 2026.
For the first time in Australia's history, parents receiving Government-funded Paid Parental Leave will also receive superannuation contributions on those payments.
If you own a holiday home that you also rent out, a shift that takes full effect from 1 July 2026 could materially change what you can claim at tax time.
From 1 July 2026, employers need to pay superannuation guarantee (SG) contributions at the same time as wages, rather than weeks or months later.
This tax season, there's a surge in questions about claiming interest on a loan as a tax deduction. It's important to ask is 'why did you borrow the money'?
What does the One Big Beautiful Bill mean for Australian investors, especially super funds and small businesses with US exposure? It could hit investment returns.
With regulatory changes and mounting administration, the shine has been wearing off trust funds, prompting businesses and investors to rethink their use.
With the end of the financial year approaching we outline opportunities to maximise deductions and give you the low down on areas at risk of increased ATO scrutiny.
