Auswild & Broad | Blog

It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.

The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s never that simple.

Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end of the financial year.

Will 2024-25 be another year of volatility or a return to stability?

The latest income tax cuts from the Australian Government apply from 1 July. 

Here’s a summary of the key changes coming into effect on 1 July 2024:

New nationwide research released by ASIC’s Moneysmart reveals that 47% of Australian adults with debt, the equivalent of 5.8 million people, have struggled to make repayments in the last 12 months.

The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions.

The ATO has warned that it is looking closely at how trusts distribute income and to who.

The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst.