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Division 7A of the Income Tax Assessment Act is a critical aspect of Australian tax law, targeting private companies that provide financial benefits to shareholders or their associates. If these transactions are not properly managed, they can be deemed unfranked dividends, leading to unexpected tax liabilities.
Professional development is integral to most, if not all, workplaces and many of our clients have programs in place that mean team members can access additional training courses throughout the year. It means upskilling the workforce which can only mean good things for the economy! The ATO is rewarding such leadership with a new Skills and Training Boost. Read on to learn what it is, and if you’re eligible.
Whilst working from home for the self-employed has been commonplace for years, the number of employees working from home has boomed over the last couple of years for a reason we’re all well aware of: covid. For many, this change will remain permanent – whether it’s for the full five days, or on a part time basis with flexible working arrangements now a mainstay of Australian employment.
Cryptocurrency has fast become a popular investment and payment method in Australia however all too often the decision to purchase doesn’t come hand in hand with the necessary tax knowledge. Here’s everything you need to know about cryptocurrency.
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