The key influences of 2024

2024-01-21T16:25:34+10:00January 18th, 2024|ATO, Budget, Corporate, General, News, SMSF, Super|

Uncertainty has reigned over the last few years, but can we expect more consistency as we kick off 2024? We explore some of the key issues and influences. Inflation and labour supply RBA Governor Michelle Bullock stated, “Inflation is past its peak and heading in the right direction, but it is likely to return

Up to 10 years in prison for deliberate ‘wage theft’

2024-01-21T15:35:14+10:00December 21st, 2023|Corporate, General, News|

Legislation currently being debated in Parliament will introduce a new criminal offence for intentional “wage theft”. If enacted, in addition to the criminal offence, a fine will apply. The fine is three times the underpayment and: For individuals - 5,000 penalty units (currently $1,565,000). For businesses - 25,000 penalty units (currently $7,825,000). The reforms

Fixed-term employment contracts limited to 2 years

2023-12-08T06:07:22+10:00December 6th, 2023|Corporate, General, News|

From 6 December 2023, employers can no longer employ an employee on a fixed-term contract that: is for 2 or more years (including extensions) may be extended more than once, or is a new contract: o   that is for the same or a substantially similar role as previous contracts o   with substantial continuity of

What’s the Deal with Working from Home?

2023-03-15T08:34:52+10:00March 15th, 2023|ATO, Corporate, Family, General, News, WFH|

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to use a new ‘fixed rate’ method

Director Penalty Notices

2022-09-25T22:18:57+10:00September 26th, 2022|ATO, Corporate, General, News|

The Australian Tax Office has flagged an important change in its approach to debt collection and insolvency, with a return to full-time status for its collections department. Recovery of debts is a "key focus" of the ATO's payment and debt strategies moving forward. Businesses, and Directors, need to be aware of the actions the

Webinar – Tax Planning (Tips & Tricks)

2022-04-21T15:53:25+10:00April 21st, 2022|ATO, Budget, Corporate, General, Webinar|

On Wednesday 4 May @ 12.3-pm, BDH Leaders is hosting a webinar tailored for business owners interested in tax planning insights, tips and tricks. Having a tax plan in place before 30 June will help you make strategic decisions to maximise your returns come tax time. With the end of the financial year fast approaching,

The ATO’s Attack on Trusts and Trust Distributions

2022-03-10T09:10:56+10:00March 10th, 2022|ATO, Corporate, Family, General, News, Trusts|

Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the ATO’s more aggressive approach. Family trust beneficiaries at risk The tax legislation contains an integrity rule, section

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