Many business clients like to review their tax position before the end of the income year and evaluate any strategies that may be available to legitimately reduce their tax.  Traditionally, year-end tax planning for profitable small businesses is based around accelerating deductions and deferring income.  Small Business Entities (‘SBEs’) – i.e., those with an aggregated…Read More

Tax saving strategies prior to 1 July 2023 A strategy often used to reduce taxable income (and, in turn, tax payable) in an income year is to bring forward any expected or planned deductible expenditure from a later income year.  However, any individuals with potentially reduced income for the 2023 tax season may want to…Read More

2023/24 Budget Update   On 9 May 2023, Treasurer Jim Chalmers handed down the 2023/24 Federal Budget. Some of the measures announced by the Government (including some which were actually announced prior to the Budget), include: from 1 July 2026, employers will be required to pay their employees’ superannuation at the same time as their…Read More