by Team Garnet | Nov 30, 2022 | ATO, Capital Gains, Tax News
ATO has updated its guideline on how the CGT main residence exemption may apply in cases of deceased estates. It now explicitly takes into account the effects of COVID-19. The ATO has recently updated its practical compliance guideline on how the CGT main residence...
by Team Garnet | Nov 24, 2022 | Business Structures, Small Business, Tax News
Rental waivers, deferrals or variations from your business’s landlord may seem like a good thing but beware of the potential income tax, GST and even CGT consequences of deferred rent. If you run a business from rented premises, there may be tax consequences when rent...
by Team Garnet | Nov 18, 2022 | ATO, Small Business, Tax News
Taxpayers could soon be dealing with more paperwork or face the prospect of a lower WFH deduction if the ATO gets its way. With the expiration of the previous fixed rate method and the shortcut method for calculating the deduction for WFH (working from home) expenses,...
by Team Garnet | Nov 10, 2022 | ATO, Tax News
The Federal Budget 2022-23 has been handed down by Treasurer Jim Chalmers among challenging economic conditions. On Tuesday, 25 October 2022, Treasurer Jim Chalmers handed down the 2022-23 October Federal Budget, his 1st Budget. While a Budget was handed down on 29...
by Team Garnet | Nov 3, 2022 | Assistance
Parents could soon be paying less for childcare if the affordable early childhood measures introduced by the government passes Parliament. To fulfil its election promise, the government has recently introduced a Bill to make early childhood education and childcare...
