About Maneesha

This author has not yet filled in any details.
So far Maneesha has created 254 blog entries.

The problem when the evidence doesn’t match what the taxpayer tells the ATO

2024-08-12T17:58:27+10:00February 23rd, 2024|Tax|

The problem when the evidence doesn’t match what the taxpayer tells the ATO A recent case before the Administrative Appeals Tribunal (AAT) highlights the importance of ensuring that the evidence supports the tax position you are taking. The case involves heritage farmland originally purchased for $1.6m that sold 7 years later for $4.25m and the [...]

Contractor or employee?

2024-08-12T16:56:00+10:00February 12th, 2024|Business, People|

Contractor or employee? Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes, new guidance from the ATO warns. Where there is a written contract, the rights and obligations of the contract need to support that an independent contracting [...]

Can my SMSF invest in property development?

2024-08-12T16:54:49+10:00February 1st, 2024|Property, Super|

Can my SMSF invest in property development? Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems [...]

Stage 3 personal income tax cuts redesigned

2024-02-01T16:20:54+10:00January 31st, 2024|Uncategorized|

Stage 3 personal income tax cuts redesigned The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government. After much speculation, the Prime Minister has announced that the Government will amend the legislated Stage 3 tax cuts scheduled to commence on [...]

Tax on super balances above $3m hits Parliament

2023-12-13T10:41:16+10:00December 12th, 2023|Super, Tax|

Tax on super balances above $3m hits Parliament Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament. While not a concern for the average worker, if enacted, those with significant property or other illiquid assets in their superannuation fund are most at risk, for example farmers and business [...]

The key influences of 2024

2023-12-13T10:42:34+10:00December 8th, 2023|General News|

The key influences of 2024 Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024? We explore some of the key issues and influences. Inflation and labour supply RBA Governor Michelle Bullock stated, “Inflation is past its peak and heading in the right direction, but it [...]

Bah humbug: The Christmas tax dilemma

2023-12-13T10:43:20+10:00December 5th, 2023|Business, Tax|

Bah humbug: The Christmas tax dilemma Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season.  1. Keep team gifts spontaneous $300 is the minor benefit threshold for FBT so anything at or above this level will mean that your Christmas [...]

Effective budgeting for the new year

2023-12-14T12:35:20+10:00December 1st, 2023|Money|

Effective budgeting for the new year As we approach the dawn of a new year, it's an opportune moment for individuals and businesses alike to set their sights on financial goals and establish a robust budget. Budgeting isn't merely about tracking expenses; it's a proactive strategy that empowers you to control your finances and achieve [...]

Warning: Redrawing investment loans

2023-12-13T14:58:13+10:00November 24th, 2023|Property, Tax|

Warning: Redrawing investment loans The ATO estimates that incorrect reporting of rental property income and expenses is costing around $1 billion each year in forgone tax revenue. A big part of the problem is how taxpayers are claiming interest on their investment property loans. We’ve seen an uptick in ATO activity focussing on refinanced or [...]

Contact Information

Suite 5/29 Commerce Drive Robina QLD 4226

Phone: (07) 5593 3555

Fax: (07) 5593 2255

Our Location