If you’re considering purchasing a vehicle for your business, it’s important to be aware of the updated car thresholds taking effect from 1 July 2025. Each financial year, the Australian Taxation Office (ATO) reviews and adjusts these thresholds to reflect inflation and economic conditions, and they directly impact how much you can claim for your…
Investing in shares is a common way Australians look to build wealth over time. But whether you’re receiving shares through an employee scheme, buying them directly, or receiving them as a gift, it’s essential to understand the tax implications—especially if you want to avoid surprises come tax time. Buying Shares When you purchase shares using…
Self-managing your National Disability Insurance Scheme (NDIS) budget can give you more control and flexibility. However, it also comes with important tax responsibilities – especially if you’re hiring support workers directly or receiving NDIS funding as a participant, nominee, or plan manager. Understanding your tax obligations can help you stay compliant and avoid unexpected issues…
Employment Termination Payments (ETPs) are lump sum payments made to employees upon the cessation of their employment. These payments can arise from various circumstances, including resignation, redundancy, retirement, or dismissal. Understanding the components and tax implications of ETPs is essential to ensure compliance and optimal tax outcomes. Components of ETPs ETPs may include: Payments in…
