Tax & Structuring

It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. However,, some of these amounts may be used in other calculations and may therefore need to be included elsewhere in your tax return. The ATO classifies the amounts that it doesn’t count as [...]

The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of a person. It does not matter whether the income is earned by the individual in their own name or through an entity such as a business. The rules do not apply to income earned from [...]

Superannuation is often a key source of income when you retire so it’s important to ensure your investment strategy makes your retirement savings last for as long as possible. Shifting investment strategy objectives As you approach retirement, your investment strategy objectives may start to shift. In your younger years, the main aim of superannuation is [...]

When hiring new staff, there are certain steps you should follow to cover your tax, workplace, and superannuation obligations. Confirm they are legally permitted to work in Australia Australian citizens, permanent residents, and New Zealand citizens are legally permitted to work in Australia. If the worker does not fall into these categories, you must, before [...]

The Federal Budget for 2024–25 was handed down on Tuesday 14 May 2024. It contains a range of proposed measures across the areas of income tax, superannuation, tax administration, and related cost of living measures. Some of these may affect you directly or indirectly. We have provided a summary of these measures and what they [...]

Keeping track of your superannuation balance is key, as it impacts how much you can contribute to superannuation and whether you are entitled to other superannuation concessions and measures. Introduction Your total superannuation balance (TSB) is an important concept as it impacts your eligibility for up to six favourable superannuation-related measures, including the: Bring forward [...]