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Capital gains tax (CGT) can significantly impact your profits when you're selling your property in Australia. However, the capital gains tax 6-year rule offers an opportunity to reduce or even eliminate CGT if you've used your home as your principal place of residence (PPOR) and later rented it out.

In this guide, we'll explain how this rule works and how you can use it to maximise tax savings when selling your property.

Tax season is approaching, and the Australian Taxation Office (ATO) has already signaled the areas it will scrutinize closely this year.  Each year, the ATO announces key focus areas or ‘hit lists’ where it will concentrate its compliance efforts. These are typically areas where taxpayers have made mistakes or attempted to claim deductions they were not entitled to in previous years. 

Understanding the ATO’s tax time priorities for 2024-25 can help you prepare an accurate return and avoid unwanted attention. This article explains what’s on the ATO’s hit list for this year and shares practical tips to help you prepare your 2025 tax return.

Salary sacrifice is gaining traction in Australia. This growing interest reflects a shift in compensation trends, as more employees seek flexible benefits that go beyond base salary to enhance their overall financial wellbeing. In this blog, we explore this incentive and how it could be beneficial to you.
 

Are you going to work overseas? If so, you will be exposed to various tax consequences. The starting point to determine the tax impact is whether you remain resident of Australia for tax purposes, or whether you become a tax non-resident under Australian laws.

While National Disability Insurance Scheme NDIS provider contribute so much to the community, they often overlook the financial aspects of their services the common mistakes are as below:

• Lack of financial awareness
• Not understanding business structure
• Manual record keeping
• GST reporting
• Confusion between employees and sub-contractors
• Minimal tax planning & budgeting

The end of the tax year will soon be upon us with 30 June just around the corner. Now’s a good time to take a look at both your expected taxable income for the current financial year and your projected taxable income for next financial year, as they will help guide your tax planning strategy.

Self-managed superannuation funds (SMSFs) are gaining popularity among individuals seeking greater control and flexibility over their retirement savings. However, setting up an SMSF involves several important steps to ensure compliance with legal requirements and to establish a solid foundation for future success. In this blog, we will walk you through the process of setting up an SMSF

ATO investors toolkit is a resource for anyone earning money from their investments, whether you invest in property, shares or crypto assets.

For individuals on a working holiday visa in Australia, there are specific tax implications to consider. Check about tax, working and lodging a tax return in Australia if you're a working holiday maker (417 or 462 visa)

Top 10 tips to help rental property owners avoid common mistakes