by Peter Ristevski | Jun 6, 2024 | ATO, Tax & Accounting, Trusts
The ATO has warned that it is looking closely at how trusts distribute income and to who. Find out how to avoid penalties this EOFY. The distribution of income by trusts has faced intense scrutiny in recent years. Trustees must carefully consider trust distribution...
by Peter Ristevski | Jun 6, 2024 | EOFY, Tax & Accounting, Tax Deductions, Tax Planning, Tax Tips
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions. OPPORTUNITIES Take Advantage of 1 July 2024 Tax Cuts: Maximize the benefit of the upcoming tax cuts by...
by Peter Ristevski | May 27, 2024 | ATO, Investment Property, Property Tax, Tax & Accounting, Tax Deductions
As part of its ongoing efforts to ensure compliance and fairness within the tax system, the Australian Taxation Office (ATO) has announced its 2024 targets for rental property owners. This initiative aims to address common issues related to rental income reporting and...
by Peter Ristevski | Apr 29, 2024 | ATO, Income Tax, Tax & Accounting, Tax Deductions, Tax Refunds
Staying compliant and maintaining consistency in your tax planning can lead to substantial annual savings, allowing you to allocate funds towards your priorities and the expansion of your business and wealth creation plans The Australian Taxation Office (ATO) defines...
by Peter Ristevski | Apr 18, 2024 | ATO, Income Tax, Tax & Accounting
A late tax return penalty can be substantial, but they are entirely avoidable. That is why it is important to know your tax deadlines and any penalties that may apply for failing to lodge on time and avoid late payment. In this blog, we will cover what an overdue tax...
