How a Missed Signature Cost a Family Thousands (and What You Can Learn From It) Running a business in Brisbane is hard enough. The last thing you need is an unexpected ATO bill. Worse when its because of one missing document or signature. But that’s exactly what happened in Goldenville Family Trust v Commissioner of…
From 1 July 2025, leaving your tax debts unpaid are more expensive. The ATO’s General Interest Charge (GIC) and Shortfall Interest Charge (SIC) are no longer be tax-deductible. Right now, the GIC rate is 11.17% (very high)… with no chance of a tax break to soften the blow. If you have unpaid tax or use…
Want a bigger retirement fund? If you run a business in Brisbane or Capalaba, you’re already busy keeping clients happy, managing staff, and staying on top of the books. Superannuation often gets pushed aside — but the right contributions at the right time can save tax now and grow your retirement fund faster. Here’s what…
If you had a study or training loan on 1 June 2025, the government has cut your debt by 20% automatically. The ATO will update your account and let you know once it is done. But there are a few things you should do first. Details below. Some People Will Get Refunds Your student loan…
If you’ve ever paid your tax late, you’ll be familiar with the ATO’s General Interest Charge (GIC). Until recently, you could claim that interest as a tax deduction. But not anymore (starting 1 July 2025). Here’s everything business owners and sole traders need to know, and what to do now so you don’t get stung…
Want to pay less tax in the 2025 financial year (FY)? Here are 3 easy ways to increase your refund – and 3 common mistakes to avoid. 3 Smart Tax Moves 1. Grow Your Super & Save Tax Best for: those under 75 and looking to build retirement savings What: Add extra money to your super before…
Running your business takes hard work. The last thing you need is trouble with the ATO. Right now, the ATO (Australian Taxation Office) is cracking down on small businesses for breach of Division 7A of the Income Tax Assessment Act 1936, by using money and assets belonging to a business company for personal use or…
Life has never been the same since 2020, even as things go back to “normal”. Looking at the news, you may feel there’s uncertainty everywhere. Here in Australia, we’re already a quarter of the way through 2025 and are already seeing signs of big changes to tax, retirement, cost of living, and small businesses. Here’s…
Australia’s Economy: Don’t Ignore the Red Flags The Institute of Public Accountants (IPA) has issued a serious warning about Australia’s economy, and it’s something we can’t afford to brush off. In their recent media release, IPA CEO Professor Andrew Conway said, “Australia is sleepwalking into an economic wasteland,” and it’s time to wake up. Global…
ATO Enforces Monthly GST Reporting for Some Small Businesses Starting April 1, 2025, the Australian Taxation Office (ATO) is shifting certain small businesses from quarterly to monthly GST reporting. This move primarily targets businesses with a history of non-compliance, such as late payments, missed Business Activity Statement (BAS) lodgments, or incorrect tax reporting. If your…