Insights
As the FBT year ends on 31 March 2026, now is the time for businesses to review their Fringe Benefits Tax position and avoid unexpected tax bills.
Labor’s ‘Better Target Super Concessions’ policy has undergone substantial revisions in response to extensive consultation and feedback from industry stakeholders.
If you’re approaching retirement and haven’t mapped out your financial future, you’re not alone—but you are cutting it fine. Here’s why planning years (or even decades) in advance is the key to a stress-free retirement.
Succession planning horror stories far outweigh the success stories in Australia—especially in farming and commercial businesses. Why? Because too many owners put it off, avoid tough conversations, or assume a simple handover will work. The reality is, succession is complex, and failing to plan properly leads to financial, legal, and emotional chaos.
From family disputes and tax headaches to leadership gaps and unexpected disruptions, there’s no one-size-fits-all solution. Many businesses also don’t think outside the box—why does succession have to mean a full handover? An employee could step in, partial ownership could be transferred, or a staged buyout could ease the transition.
A great succession plan isn’t built in a day. It takes time, strategy, and professional guidance.
Spending money just to reduce tax can hold your business back from real wealth creation. Instead of focusing solely on deductions, consider how your profits can work for you—whether that’s through paying down debt, contributing to super, or making strategic investments. Profit is what allows you to grow your business and assets, and yes, that means paying some tax. But with smart tax planning, you can strike the right balance between minimising tax and maximising long-term financial growth.
As a business owner, you're constantly making financial decisions—but when was the last time you checked on your super? Unlike employees, no one is automatically contributing for you, and relying solely on your business or farm for retirement is a risk.
When it comes to running a regional business—whether it’s a family farm, trucking company, or small-town operation—the hard work and dedication that goes into it is irreplaceable. But what happens when it’s time to step back or hand over the reins?
By understanding and acting on these changes, you can protect your business while ensuring fair treatment of employees.
The ATO has identified several mistakes it commonly sees in tax returns which are made by people who own rental properties. One of those mistakes is claiming a deduction for repairs of a property when an outright deduction should not have been claimed.
If you have a private company and it has made a loan to a shareholder or an associate of a shareholder, don’t forget your obligations to either repay the loan in full or make a ‘minimum yearly repayment’.
There is the office Christmas party to organise. There are gifts to buy for all the team. There are hampers and other Christmas gifts to give to key clients and suppliers. But wait! My accountant says that some of this might not be tax deductible. Some of it might attract Fringe Benefits Tax (‘FBT’).
Here, we explore the essentials of estate planning in Australia, including key components, legal considerations, and the importance of seeking professional guidance.
Additional tax liabilities may arise when money or assets of a foreign trust are paid to a taxpayer or applied for their benefit, and they are a beneficiary of the foreign trust.
A common SMSF question is whether you can live in a property owned by your fund. The short answer is yes - with a few buts.
Charitable donations can serve as an excellent method of putting your money behind causes that speak to you, and can serve as a great method of maximising both your tax return, and the use of your hard-earned money.
On Monday 3 June 2024, the Fair Work Commission has announced a 3.75% increase to minimum rates in modern awards, which takes effect from the first full pay period after 1 July 2024. For those employees who are not covered by a modern award or enterprise agreement, and are paid the National Minimum Wage, they will also receive an increase of 3.75%.
Farm succession planning is an important process for ensuring the long-term sustainability and financial security of a farm and its family.
Have you ever wondered how some people manage to keep bouncing back from adverse events? How they just keep on keeping on no matter what gets in their way?
With the current land prices we are finding that there is a significant and increasing disparity between original cost bases and current values. What are you doing to understand this situation?
If you run a business, the chances are, you would have created invoices. This can be a time-consuming activity, however with the advances of electronic invoicing (e-Invoicing), the task can be much more efficient.
The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach.
A Farm Management Deposit (FMD) is tool to help primary producers deal with uneven profit and is a bank account similar to a term deposit, but what happens when you cease to be a primary producer?
How many horror stories have you heard about farming families getting torn apart when the farm-owner dies?
Self-managed super funds (SMSFs) are required to prepare and implement an investment strategy to help meet their investment and retirement goals.
While it might not seem important at the time, the choice of purchasing entity is critical.
As with most financial decisions, there is not a one-size-fits-all approach – no two people are the same, so there’s no straight answer to this question.
Ultimately, the choice is either to hold onto the farm until you die, and pass it on through your estate or to transfer it when you are alive. Transferring the farm while you are alive has some advantages.