A deal to strengthen taxes on empty homes has been struck between the Victorian government and the Greens. An upper house vote on changes to Victoria’s vacant residential land tax was put on ice earlier this month when the Greens and the coalition refused to back the legislation. But the bill is set to return […]
Does your company still use desktop software or spreadsheets for accounting tasks? If so, then it could be time to upgrade to a cloud-based accounting system. In comparison to on-premises solutions, cloud accounting for small businesses offers several advantages. These include the freedom to work from anywhere at any time, the automation of laborious manual […]
With the holiday season on the way you may be planning to celebrate with your staff. Before you hire a restaurant or book an event, make sure you work out if the benefits you provide your employees are considered entertainment related, and therefore subject to fringe benefits tax (FBT). This will depend on: the amount […]
Partners from the Big Four consulting firms could be banned from serving on the board of the tax advisory regulator, in the first legislative move against the companies since the PwC tax scandal. After securing government agreement, the Greens will introduce an amendment to the Treasury Laws Amendment Bill to the Senate on Wednesday. Their […]
Welcome to the November edition of our Newsletter. Well, it’s that time of the year again, …
From the Principal’s Desk – Fabbro Talks Commercial Law (November 2023) Read More »
Retirement is a complex period divided into various phases, each with its own set of financial requirements and lifestyle considerations. Understanding how to budget for each stage can help you make the most of your post-career years. Pre-Retirement (Ages 50 to 62) Financial Outlook In the years leading up to retirement, you’re still earning […]
From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages. Currently, employers are only required to pay their employees’ super quarterly. These changes to payday super were announced in the 2023–24 Budget. We’ve since been consulting closely with key industry bodies, including Small […]
Cybersecurity should not be a set and forget function for businesses and we recommend you check your security monthly. Throughout 2021–22, one cybercrime was reported every 7 minutes to the Australian Cyber Security Centre (ACSC). To avoid being a target for these criminals, implement these 4 simple steps: Don’t compromise your device/s. Install updates for your devices […]
Airbnb has called for a contentious Victorian tax on short stays to be expanded to all accommodation bookings, including city hotels. The state government last month announced an Australian-first, statewide levy on short-stay providers like Airbnb and Stayz. The consumer-facing 7.5 per cent levy is slated to come into effect from 2025 and raise $70 […]
The number of Australians with super balances in the hundreds of millions has been expanding quickly as the federal government prepares to tighten tax breaks for wealthy retirees. The Labor government committed to halving tax breaks for those with super balances of $3 million or more earlier in the year in a bid to claw […]
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