Ever noticed your super balance going up and down, even when you haven’t made any changes? It’s not just about fees, contributions, or insurance premiums – it’s also about how your super fund calculates investment earnings. Super funds use one of two methods to allocate investment earnings: unit pricing or crediting rates. While industry super…
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Natural disasters can significantly damage rental properties and business premises, leading to costly repairs and financial uncertainty. If you own a rental property or business premises that have been impacted, it’s essential to understand what expenses you can claim and any income you need to declare during the recovery process. Claiming Expenses for Repairs and…
Sustainability has become a key focus for businesses across all industries. Companies are increasingly recognising that sustainable business practices not only help the environment but also improve efficiency, reduce costs, and enhance their reputation with customers. Whether you’re a small business owner or running a larger enterprise, adopting sustainability can have lasting benefits. What Are…
Division 293 tax is an additional tax on concessional superannuation contributions for high-income earners in Australia. It is applied at a rate of 15% on certain super contributions when an individual’s combined income and concessional contributions exceed $250,000 in a financial year. This tax effectively reduces the tax concession available to higher-income individuals, ensuring a…
As 31 March approaches, businesses need to prepare for their Fringe Benefits Tax (FBT) obligations to ensure compliance with the Australian Taxation Office (ATO). The FBT year runs from 1 April to 31 March, and preparing ahead of time can help businesses avoid costly mistakes, reduce their FBT liability, and ensure all required records are…