Novated leases have become increasingly popular in recent years, particularly with the introduction of Fringe Benefits Tax (FBT) concessions for eligible electric vehicles. While they can offer tax savings for some employees, they're not the right solution for...

When we think about estate planning, most people immediately think of a will. But did you know your superannuation doesn’t automatically form part of your estate? Unless you’ve made the right arrangements, your super — often one of your biggest assets — might not go...

Capital losses are often overlooked in tax planning—but when used correctly, they can be a valuable tool for managing your overall tax position. The key is understanding what you can (and can’t) do with them. What Is a Capital Loss? A capital loss occurs when you sell...

Every year, as tax time rolls around, we see the same questions—and the same mistakes—come up again and again. While individual tax returns might seem straightforward, small misunderstandings can lead to missed deductions, incorrect claims, or unnecessary ATO...

As 30 June approaches, EOFY planning often turns into a last-minute rush—but a few well-timed actions can make a real difference to your tax position and help you avoid surprises. Here are some key areas to focus on before year-end: 1. Bring Forward Deductions (Where...

Xero makes it easy to code transactions—but how you code them has a bigger impact than most business owners realise. Messy or inconsistent coding doesn’t just affect compliance—it can distort the numbers you rely on to run your business. It’s Not Just About “Getting...

As 30 June approaches, many business owners start looking for ways to reduce their taxable income for the year. One common strategy is bringing forward deductions — but the rules around timing, particularly for prepayments, are more nuanced than they first appear....

PAYG instalments are one of those tax obligations that often catch business owners off guard—especially when the amount suddenly increases. The key to avoiding surprises is understanding that some changes are automatic, while others depend on when your latest tax...

“Wash sales” have become a major focus for the ATO — and for good reason. These transactions artificially create capital losses by selling an asset and buying it back shortly after, purely to reduce tax. Here’s what you need to know to avoid accidentally stepping over...