National Cabinet agreed to end the mandatory isolation requirements for COVID-19 effective from 14 October 2022. Each state and territory has, or will, implement the end of the isolation rules. The Pandemic Leave Disaster Payment, the payment to workers who have lost income they needed to self isolate or care for someone with COVID-19, also …
In September, amid a climate of startling interest rates, UK Chancellor Kwasi Kwarteng announced a series of tax cuts, including the reduction of the top personal income tax rate that applies to those earning more than £150,000 from 45% to 40%. Just ten days later, following market turmoil that saw the British Pound drop at …
To cut or not to cut? Stage three personal tax cuts Read More »
The RBA lifted the cash rate to 1.85% in early August 2022. The increase comes a few weeks after Reserve Bank Governor Philip Lowe told the Australian Strategic Business Forum that “…we’re going through a process now of steadily increasing interest rates, and there’s more of that to come. We’ve got to move away from …
New legislation is currently before Parliament, if it is enacted, it will make zero or low emission vehicles FBT-free. Today, We explore who can access the concession and how. Electric vehicles (EV) represent just under 2% of the new car market in Australia but it is a rapidly growing sector with a 62.3% jump in …
The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return. The first point to understand is that gains and losses from crypto are only reported in your tax return when you dispose of it – you sell it, convert it to fiat currency, exchange it for another type of …
One of the biggest complaints from salespeople in a tight economy is the time it takes to achieve a sale. So, what can you do to speed up the sales process? Sell the solution not the product Branding is wonderful but unless your brand is as mighty as Coca Cola, it’s unlikely people will purchase …
Everyone knows you don’t pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption. Capital gains tax (CGT) applies to gains you have made on the sale of …
CLICK HERE to read the Acumon Connect Winter 2022 Newsletter In this issue: Welcome Tax Time Targets Fast facts around FBT Record Keeping & Director ID Lodgement reminders & key dates Congratulations to Callan Stammer The 4 D’s
Following the Federal Election in May 2022, Anthony Albanese was sworn in as Australia’s 31st Prime Minister. Here we look at what we can expect from the new Australian Government. The economy The Government has stated that its economic priority is, “creating jobs, boosting participation, improving and increasing productivity, generating new business investment, and increasing …
Tax season is upon us and the Australian Taxation Office (ATO) has revealed its four priority areas of focus this tax season. Record-keeping Work-related expenses Rental property income and deductions, and Capital gains from crypto assets, property, and shares. In general, there are three ‘golden rules’ when claiming tax deductions: You must have spent the …