For the first time, many Australians are finding themselves in a position where they are being told they owe the ATO money after completing their tax return this year. A significant number of taxpayers in this position are those that are still paying off their...

Some employers, especially at Christmas time or for birthdays, give small gifts to their employees or the employee’s associates  (i.e. spouses). These gifts typically take the form of bottles of wine, movie tickets, gift vouchers etc. The tax treatment of these gifts...

SMSF trustees with limited recourse borrowing arrangements (LRBAs) are now feeling the impact of 10 interest rate rises since May 2022 in one hit, from July 2023. SMSF trustees relying on the ATO’s safe harbour terms to ensure that an LRBA remains, at all times, at...