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Only the ones you want to claim as a tax deduction might be a common response. Work-related expenses But that isn’t quite right, as the tax rules in fact enable you to make legitimate claims for work-related expenses for up to $300 in a financial year without having receipts, provided: you have spent the money; [...]

The government has shared more details about its proposed new “payday super” plan, which will start on 1 July 2026. What is payday super? Starting in July 2026, employers must pay superannuation guarantee (SG) contributions to their employees at the same time they pay their salary and wages—weekly, fortnightly, or monthly. Currently, employers are legally [...]

To say that the interaction of the Capital Gains Tax (CGT) laws and trusts is complicated is probably one of the greatest understatements that anyone could make about the operation of the tax laws. The laws of physics may be much simpler—and, in this regard, it was Einstein who apparently quipped that “the hardest thing [...]

With Australia going through a major cost of living crisis and interest rates not coming down as quickly as hoped, more and more people are looking at ways of creating additional cash flow to help make ends meet. What is a side hustle? Earning extra income on top of your primary job is sometimes known [...]

There are many adverse consequences associated with failing to lodge income tax returns or omitting income from those returns if the ATO finds out. The ATO has increasingly sophisticated technology to track such matters and catch people out, including “data matching” programs where it compulsorily obtains masses of information from certain authorities (e.g., banks, insurance [...]

While all superannuation funds have a shared goal to provide retirement benefits to their members, there are many differences between SMSFs and other superannuation funds. So if you’re thinking about setting up an SMSF, it’s worthwhile comparing SMSFs with other funds before making your decision. Here, we highlight the main differences between SMSFs and other [...]