Blog
Are you missing out on your Franking Credit refund?
As seen in Woopi News November 2024 Recently we met with a couple of retirees to discuss a capital gains tax matter. The couple hadn’t needed to lodge tax returns for 15 years, as their investment income was under the tax-free threshold for senior Australians. After...
Workers Compensation Insurance, is your business complying with their obligations?
As seen in Woopi News October 2024 “From the 1st October 2024 the State Insurance Regulatory Authority (SIRA) will be conducting a review of all businesses in NSW who may need a workers compensation policy. Any business identified as not having a current workers...
Is your investment property genuinely available for rent?
As seen in Woopi News September 2024 This question is more commonly asked about holiday rentals or other short-term accommodation but can apply in other circumstances as well. So why is this question important? It has to do with the deductibility of expenses...
Tax Time | Be aware of ATO Scams
As seen in Woopi News August 2024 Scammers often pretend to be from trusted organisations such as the ATO and will try to trick you into paying money or giving out your personal information. In the digital world that we now live in people need to be aware of the...
Registering a business name
As seen in Woopi News July 2024 Starting a new business can be both exciting and nerve racking at the same time but too often people forget a few important steps. If you wish to trade under a business name, it’s a requirement that it be registered with ASIC. Too often...
2024/25 Federal Budget Update
As seen in Woopi News June 2024 While some Budget announcements apply immediately, it’s important to remember that not all announcements can be relied upon as they may require legislated to be passed. Individuals The budget confirmed the reductions in the individual...
2024 Tax traps as we approach 30 June
As seen in Woopi News May 2024 As we approach the end of financial year, people tend to start thinking about ways to save tax but as I say every year, if you don’t need it, don’t buy it just to save tax. If you spend $100 and claim that item, you are not getting the...
Why is it a bad idea for businesses to barter or trade products or services?
As seen in Woopi News April 2024 To barter or trade products or services may seem like a good idea at first, but there is a minefield of reasons why business owners should avoid bartering. When you barter or trade, as a business owner you still need to record these...
Tax Cuts from July 1, 2024 – for all taxpayers
As seen in Woopi News March 2024 There has been a lot of media coverage of late regarding the changes to the tax cuts that were to take effect from 1st July 2024 and some media reports have given the impression that high income earners are worse off. It is important...
Changes to Australian Business Number’s (ABNs)
As seen in Woopi News February 2024 Over the last 12 months many Sole Trader ABNs have been cancelled without prior notice. Generally, this is because the ABN holder hasn’t included business income in their Individual Tax Return for a few years. Many people applying...
The importance of having and or updating your Binding Death Benefit Nomination with your Superannuation Fund
As seen in Woopi News January 2024 Did you know that your Superannuation doesn’t automatically form part of your estate when you die? It is important to nominate who you want to receive your Superannuation; this is generally your spouse or children, but not always....
Mind your budget as we head into the festive season
As seen in Woopi News December 2023 With raising household expenses one thing on a lot of people's minds at the moment is their budget. I regularly hear people talking about the cost of living; raising rent prices, mortgage interest rates, the price of groceries,...
