Epoch News

The Australian Taxation Office has released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can and can't claim. Suppose you undertake study connected to your work. In that case, you can typically...

Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We show you how to maximise the deduction! The small business energy incentive is the latest measure providing a bonus tax deduction...

What a difference timing makes. A recent case before the Administrative Appeals Tribunal (AAT) is a reminder about the tax impact of the timing of employment income.  In this case, the taxpayer was a non-resident working in Kuwait. As part of his work, he was entitled...

What will Australia look like in 40 years? We look at the key takeaways from the Intergenerational Report. The 2023 Intergenerational Report (IGR) is a crystal ball insight into what Australian society will look like in 40 years and the community's needs as we grow...

$1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of control? “Everyone else got refunds, it's OK, it's just a temporary...

You've got a block of land that's perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one crucial aspect has been left out; the tax implications. Many small-scale developers often assume that their tax...

What is the end game for your business? Succession is not just a topic for a TV series or billionaire families; it's about successfully transitioning your business and maximising its capital value for you, the owners.  When it comes to the generational succession...

The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate income tax, with...

If your business sells food and drinks, it's important to stay on top of what attracts GST and what doesn't. Did you know the ATO regularly updates a list of foods for which GST applies? You can check out the latest tax office food list here.

Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee - the Temporary Skilled Migration Income Threshold - increased...