Category: News

We’ve seen quite a bit of confusion recently around whether renting out a room in your primary residence counts as declarable income to the Australian Tax Office (ATO). Guidelines that are available on this topic tend to be rather difficult for the layperson to decipher, leading to many incorrect claims – whether people declaring incomeRead More »

Businesses have always been able to use depreciating assets as tax deductions. However, the government has now simplified the rules so that it’s easier for small businesses to take advantage of these deductions. They’ve made it possible for small businesses to write off depreciating assets in one fell swoop, rather than at a set percentageRead More »

Amongst the Australian Tax Office’s targets this year are work-related deductions – especially relating to fly-in-fly-out (FIFO) workers. So how can you avoid getting caught in the net? The obvious answer is to not to do the wrong thing. Well, that’s always a good start – but the rules around deductions for FIFO work haveRead More »

It’s great to see that there are some strong pockets of economic growth around Australia. One of the primary growth spots is our very own Gold Coast – showing a host of positive signs that the economy is in a state that bodes well for business now and in the future. New property developments goingRead More »

WE ARE HIRING! Want to become part of a busy accounting team on the Gold Coast? We’re looking for a Senior Accountant who would like to grow into a management role. Based at Varsity Lakes on the Gold Coast we have the best of both worlds – great work / life balance plus an excitingRead More »

Capital gains tax is a tax on the ‘profit’ from having decided to buy, and later sell an investment. If you don’t make a gain, then there’s no tax to pay, and potentially the loss you made has to be held on record in your tax return. The way capital gains works for individuals isRead More »