Accountancy & Business Insights

Keep your finger on the pulse with our accountancy & business insights.

The ATO gets extra time to investigate BAS refunds The ATO gets extra time to investigate BAS refunds. Announced in the 2024 Federal budget, the ATO will have additional time to review suspected fraudulent business activity statement (B

Anthony Pratt 28/6/24 Anthony Pratt 28/6/24

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How can small businesses compete How can your small business compete with the big multinationals? Here’s how to maximise your boutique appeal to retain existing customers and draw in new ones. In tough economic times, small businesses c

Anthony Pratt 27/6/24 Anthony Pratt 27/6/24

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FEARS FOR RATE RISE Some economists predicting 0.25 hike from RBA in August Inflation Increase Fuel 9.3% Electricity 6.5% Housing 5.2% Food 3.3% The monthly headline consumer price index indicator rose 4 per cent in annual terms in

Anthony Pratt 27/6/24 Anthony Pratt 27/6/24

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Small business tax planning and strategies for 30 June 2024 Tax planning is important for small businesses, here is what you need to know now to prepare your strategy. As 30 June 2024 is fast approaching, we have prepared this document

Anthony Pratt 25/6/24 Anthony Pratt 25/6/24

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Tax planning and strategies for individuals for 30 June 2024 Get possible allowable deductions and personal tax cuts sorted now and make your tax time easier. As 30 June 2024 is fast approaching, we have prepared this document to provid

Anthony Pratt 24/6/24 Anthony Pratt 24/6/24

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The proposed expansion of Part IVA deferred The start date of the proposal to expand the scope of the general anti-avoidance provisions for income tax (originally announced in the 2023 Federal budget) has been deferred in the 2024 Federa

Anthony Pratt 22/6/24 Anthony Pratt 22/6/24

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Get insight into recent tax developments, measures and announcements, and more. Insights Magazine | June 2024 As changes occur, we’ll keep you posted through prattpartners social media accounts. 🖇 Partner with a firm that t

Anthony Pratt 18/6/24 Anthony Pratt 18/6/24

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Yearly repayments on Division 7A loans The ATO has identified a number of common mistakes that are being made by taxpayers in relation to Division 7A, which has prompted a series of webinars and articles to educate practitioners and taxp

Anthony Pratt 18/6/24 Anthony Pratt 18/6/24

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End of year employer obligations For employers, the ATO has issued some reminders of key changes and important due dates as the end of the income year approaches. First, the individual tax rates will change from 1 July 2024. This in tur

Anthony Pratt 18/6/24 Anthony Pratt 18/6/24

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Three ATO focus areas for tax time With the end of the income year closing in fast, the ATO has announced three of its key focus areas for tax time. Last year, more than 8 million taxpayers claimed a work-related deduction with around h

Anthony Pratt 18/6/24 Anthony Pratt 18/6/24

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What’s changing on 1 July 2024? Here’s a summary of the key changes coming into effect on 1 July 2024: • Tax cuts reduce personal income tax rates and change the thresholds. • Superannuation guarantee increases from 11% to 11.5% - chec

Anthony Pratt 16/6/24 Anthony Pratt 16/6/24

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5 million+ mortgage struggle As cash rate steady at 4.35% 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 i

Anthony Pratt 9/6/24 Anthony Pratt 9/6/24

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The essential 30 June guide 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. For you Opportunities Take advantage of the 1

Anthony Pratt 8/6/24 Anthony Pratt 8/6/24

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Increased flexibility for Carer payment recipients As part of the 2024 Federal Budget, an announcement may make more carers eligible for government assistance and support. A 2024 Federal Budget announcement will allow greater flexibilit

Anthony Pratt 2/6/24 Anthony Pratt 2/6/24

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Apprenticeships System provides support for business Australian Apprenticeship Incentive Scheme payments to be adjusted A 2024 Federal Budget announcement will provide additional support for businesses who participate in the Australian

Anthony Pratt 1/6/24 Anthony Pratt 1/6/24

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HELP student loans set to receive indexation credits Hundreds of dollars are set to be wiped off eligible HELP debts and other student loans, under a pre-budget measure announced by the Federal government which will reduce indexation and

Anthony Pratt 26/5/24 Anthony Pratt 26/5/24

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