As of 7 March 2024, the Australian Taxation Office (ATO) has reiterated the application of a 12.5% foreign residents capital gains withholding (FRCGW) on all property transactions exceeding $750,000 conducted by non-resident individuals. This entails withholding a minimum of $93,750 from the sale proceeds, unless a variation is approved. Variations Vendors are eligible to seek…
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Looking ahead to 2024, the small business landscape is poised for significant growth and change. Are you ready to seize the opportunities?
The ATO has recently issued a warning to small businesses regarding the misuse of unpaid tax and superannuation liabilities to support their cash flow
Whether you own a holiday home solely for personal use or rent it out to others, there are crucial tax considerations to keep in mind.
The Australian Taxation Office (ATO) has issued a reminder to businesses regarding their tax debts and superannuation obligations.
Cash flow can be a major hurdle for small businesses. With limited resources and many aspects to manage, facing a cash crunch is easy. However, there are effective steps you can take to ensure your business has enough money to function and grow Watch Your Cash Flow Closely Managing your cash flow is vital for…
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As a real estate industry employee, it’s crucial to accurately report your income and allowable deductions on your tax return. Here’s a breakdown of what you should and shouldn’t include: Income Include all income received during the income year, encompassing: Note: Exclude reimbursements from your income. Your income statement or payment summary will detail your…
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