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Will the proposed $1,000 instant tax deduction benefit you?
You may have heard about the Federal Government’s proposed $1,000 “instant” tax deduction for work-related expenses. Before you get excited about potential savings, it’s worth understanding who may benefit, when it could apply, and whether it would be better than claiming your actual expenses. What’s being proposed? The Government has released draft legislation for a new standard
Fuel tax credit rates changed from 1 April 2026
If you’re a sole trader or small business owner claiming fuel tax credits, it’s important to know that fuel tax credit rates have changed from 1 April 2026. While the change may seem minor, using the wrong rate could affect the amount you claim and may lead to errors in your Business Activity Statement (BAS)
Understanding your redundancy payout
If you’re facing redundancy, the stress of job loss can be compounded by uncertainty about how your final payout will be taxed and what happens to your superannuation. Understanding the different components of your redundancy package is crucial, as each part may be treated differently for tax purposes. What makes up your redundancy package? A
Super and tax obligations when you employ working holiday makers
If you employ working holiday makers, there are no special rules for your mandatory super contributions. You must treat them like resident employees by contributing 12% of their earnings to a fund in their name, giving them a choice of fund, and making the super contributions on time. Super contributions must be received in your