Blog
Denying deductions for ATO interest charged from 1st July 2025
As seen in Woopi News May 2025 In December 2023 as part of the mid year Economic and Fiscal Outlook our government announced it would amend the tax law to deny income tax deductions for ATO interest charges. As with many announcements made by our government it can...
When do you have to register for GST?
As seen in Woopi News April 2025 There is often confusion over when a business needs to register for Goods and Services Tax (GST). If you earn income under an Australian Business Number (ABN) and your annual turnover is $75,000 or more, you need to be registered for...
Property Sales and Clearance Certificates
As seen in Woopi News March 2025 Are you an Australian resident selling a property? Do you know about Clearance Certificates? When property within Australia is sold, Foreign Resident Capital Gains Withholding (FRCGW) is withheld unless the seller is an Australian...
What is a Business Activity Statement (BAS)?
As seen in Woopi News February 2025 When a business is registered for GST, it is required to lodge a Business Activity Statement (BAS). For most businesses this is every three months (quarterly), with monthly or annual options being less common. Some business owners...
Study and training loan refunds
As seen in Woopi News January 2025 The Australian Parliament recently passed a bill to change the indexation rate for study and training loans which will soon become law. In the past study loans were increased annually in line with the Consumer Price Index (CPI),...
An employees right to disconnect from work
As seen in Woopi News December 2024 All awards now include a right to disconnect clause. This means an employer shouldn’t contact an employee regarding work matters outside their usual working hours unless it’s reasonable to do so and the employee is the person who...
Are you missing out on your Franking Credit refund?
As seen in Woopi News November 2024 Recently we met with a couple of retirees to discuss a capital gains tax matter. The couple hadn’t needed to lodge tax returns for 15 years, as their investment income was under the tax-free threshold for senior Australians. After...
Workers Compensation Insurance, is your business complying with their obligations?
As seen in Woopi News October 2024 “From the 1st October 2024 the State Insurance Regulatory Authority (SIRA) will be conducting a review of all businesses in NSW who may need a workers compensation policy. Any business identified as not having a current workers...
Is your investment property genuinely available for rent?
As seen in Woopi News September 2024 This question is more commonly asked about holiday rentals or other short-term accommodation but can apply in other circumstances as well. So why is this question important? It has to do with the deductibility of expenses...
Tax Time | Be aware of ATO Scams
As seen in Woopi News August 2024 Scammers often pretend to be from trusted organisations such as the ATO and will try to trick you into paying money or giving out your personal information. In the digital world that we now live in people need to be aware of the...
Registering a business name
As seen in Woopi News July 2024 Starting a new business can be both exciting and nerve racking at the same time but too often people forget a few important steps. If you wish to trade under a business name, it’s a requirement that it be registered with ASIC. Too often...
2024/25 Federal Budget Update
As seen in Woopi News June 2024 While some Budget announcements apply immediately, it’s important to remember that not all announcements can be relied upon as they may require legislated to be passed. Individuals The budget confirmed the reductions in the individual...
