Tax

From 1 July, the income thresholds for private health insurance rebate purposes will increase.

When exploring the benefits of different vehicle models, first talk with Allan Hall for financing advice and about the tax and FBT implications of owning electric or hybrid models.

The bill to implement Labor’s revised tax cuts has now passed both houses of parliament.

If your business uses fuel, you may be able to claim credits for the fuel tax included in the price of fuel. Find out if you’re eligible or if you should register.

The ATO requires all companies and trusts that have vehicles to keep odometer records of the total kilometres travelled during the year. Use our form to submit your reading on 31 March.

The ATO is in the process of removing hyperlinks from all outbound unsolicited SMS by Tax Time 2024.

Starting 1 February 2024, individuals owning less than 25% interest in a property won't qualify for the principal place of residence exemption from the 2025 land tax year onward. Existing homeowners and those claiming the exemption by 31 January 2024 may qualify for transitional provisions.

Small businesses have until the end of this month to get back on track with overdue forms via the small business lodgement penalty amnesty.

During the festive season, understand and be mindful of the implications of FBT on gifts and parties, to ensure that your generosity doesn’t cause unwelcome tax consequences for your business.