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Category Archive - General

Be Aware of Scammers Impersonating the ATO

written by:
Darren Hagarty


Many Australians believe they would never fall victim to a scam and could confidently spot one or know what to do if they were targeted. However, scammers are becoming more sophisticated in their attempts to trick people into paying money or providing personal information. We are seeing an increasing incidence of scammers purporting to be from the ATO. In the wake of Scams Awareness Week (12–16 August), please know that…

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The Federal Election Tax Washup

written by:
Josh McMullen


With the Government being returned at the recent Federal Election, we look at what this means from a tax perspective. BUSINESS Instant Asset Write-Off Boosted and Expanded With the Government winning, the major depreciation reform that was implemented just prior to the Election will remain in place. That is, going forward, new purchases from 2 April 2019 of business-related assets up to $30,000 (up from $25,000) can be written off…

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Federal Budget 2018 – What You Need To Know

written by:
Josh McMullen


The 2018 Federal Budget was handed down on Tuesday 8 May. Following is a brief summary of some of the headline measures. INDIVIDUALS Income Tax Reduced – The centrepiece of the Budget was a three-step plan to reduce income tax for low and middle income earners over the next 7 years. The first step involves introducing a new Low and Middle Income Tax Offset from 2018/2019. This provides up to $530 per…

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Buying or Selling Property? Beware of the Capital Gains Tax Withholding Rules

written by:
Darren Hagarty


If you are buying or selling real estate situated in Australia for $750,000 or more, it is important to be aware of the the Capital Gains Tax Withholding rules. With effect from 1 July 2017, for any real estate transactions of $750,000 or above, the vendor must provide to the purchaser, prior to settlement, a  “clearance certificate” obtained from the ATO. Without this, the purchaser is required to withhold 12.5% of the…

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Estate Planning – Be The Glow That Makes It Happen

written by:
Darren Hagarty


There are few things more important than having your affairs in order. Death can strike at any time. We all know this, right? Why is it then that so few of us have this stuff sorted? Maybe it’s because the subject matter doesn’t bear thinking about. Take a different view. Peace of mind comes from knowing that your estate planning is in proper order and that your wealth will be passed on and protected…

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5 Key Things To Get Right When Starting Out In Business

written by:
Darren Hagarty


I was recently asked to present at a brilliant event tailored to those in the creative industry that were either contemplating going into business for the first time, or very new to business. As I thought through what would be the best topic to present, it occurred to me that what would be really valuable was a flyover of the key things to get right in the crucial early stages of a…

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