by epoch | May 3, 2023 | eNews
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. Based on previous data matching programs, the ATO’s assessment is that there is a tax gap of around $1 billion from...
by epoch | Apr 21, 2023 | eNews
When you start a business, it inevitably consumes not just a lot of time but a lot of cash, and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running, the business can pay you back. Right? There are myriad...
by epoch | Apr 21, 2023 | eNews
Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider. Business transactions often include earn-out clauses where the vendors ‘earn’ part of the purchase price...
by epoch | Apr 21, 2023 | eNews
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. The FBT exemption for electric cars Suppose your employer provides you with a car classified as a zero or...
by epoch | Jul 8, 2022 | eNews
Everyone knows you don’t pay tax on your family home when you sell it…right? I take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption. Capital gains tax (CGT) applies to...
