Smith Feutrill Insights
Financial news, expert tips, insights, and our latest updates.
What types of income do you need to include in your business’ tax return?
Due to changing economic circumstances, businesses may be receiving income from sources they have never received from, and may be unaware of their tax implications. In...
How to avoid SMSF disputes
Self-managed super funds (SMSF) can be vulnerable to disputes, especially when family members are involved. SMSF disputes may be caused by a number of reasons such as...
JobKeeper to be extended
The Australian Government has announced that JobKeeper payments will be extended for a further six months after the initial 28 September 2020 deadline. However, the...
The Government introduces JobTrainer and wage subsidies
The Government has introduced a $2 billion JobTrainer scheme, which aims to help businesses train or re-skill workers in Australian industries of high demand. What is...
What circumstances permit early access to your super?
Early access to your superannuation is permitted under a few limited circumstances outlined by the ATO. In the case that you are experiencing financial struggle and would...
Common tax mistakes that businesses make
Meeting tax obligations as a business owner can be stressful and potentially expensive if done wrong. Certain mistakes warrant severe action, so you can expect the ATO to...
Amending fringe benefits tax return and updated exemptions
The Government has updated fringe benefits tax (FBT) exemptions to include travel in ride-sourcing vehicles under the existing taxi travel exemption. In the case that...
Tax-deductible super contributions
Individuals may be able to claim tax deductions for personal superannuation contributions they make. Personal super contributions are made after-tax, not to be confused...
Changes to business practices and TPAR
COVID-19 has forced businesses to adapt their practices to cater for social distancing measures and sanitary precautions. As a result, many businesses have taken on...