Accountancy & Business Insights

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

Tax and Tinsel Key Considerations for Christmas Business Expenses As the festive season approaches, businesses often face questions about the tax implications of Christmas celebrations and gift-giving. Here are answers to common que

Anthony Pratt 11/12/24 Anthony Pratt 11/12/24

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How to optimise your business 6 Key Areas for Small Business Owners In today’s uncertain economic climate, there’s no better time to focus on improving your business. Whether you’re holding off on an exit strategy or simply aiming to

Anthony Pratt 10/12/24 Anthony Pratt 10/12/24

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Data-matching program for rental properties Recently, the Australian Taxation Office announced that they are undertaking a data-matching program with property management software providers. These are the rental statements that you receiv

Anthony Pratt 9/12/24 Anthony Pratt 9/12/24

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ATO areas of focus for Private Groups in 2025 The ATO has released its key areas of focus for privately owned and wealthy groups for the 2024-25 income year.  The list is separated into foundational issues, emerging and evolving ri

Anthony Pratt 5/12/24 Anthony Pratt 5/12/24

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Your upcoming tax calendar for December 2024 With the end of the calendar year and the holiday season fast approaching, please do not forget about your tax obligations. In order to be across your tax obligations, below are the upcomi

Anthony Pratt 5/12/24 Anthony Pratt 5/12/24

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Get insight into recent tax developments, measures and announcements, and more. Insights Magazine | November 2024 As changes occur, we’ll keep you posted through prattpartners social media accounts. 🖇 Partner with a firm th

Anthony Pratt 4/12/24 Anthony Pratt 4/12/24

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The Senate’s Legislative Marathon: Key Outcomes for Small Businesses The Senate pushed through 32 Bills on the last sitting day of the calendar year , clearing a legislative backlog ahead of the next federal election. These Bills, w

Anthony Pratt 4/12/24 Anthony Pratt 4/12/24

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Cash Acceptance Laws Proposed from 20226 Despite Australia's rapid shift towards a cashless society, the acceptance of cash could soon become mandatory for small businesses. Research from 2022 by the RBA shows 76% of Australians now

Anthony Pratt 25/11/24 Anthony Pratt 25/11/24

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Australia to Ban Debit Card Surcharges by 2026 What this means for your business In a move aimed at reducing costs for both consumers and small businesses, the Australian Government has announced plans to ban debit card surcharges by

Anthony Pratt 23/11/24 Anthony Pratt 23/11/24

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High-Interest Savings and Unexpected Tax Higher interest rates have been a welcome change for many savers. Since the RBA began increasing the cash rate in May 2022, money in the bank has benefited from better returns. However, with t

Anthony Pratt 21/11/24 Anthony Pratt 21/11/24

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Navigating Volatility What makes or breaks Christmas? The cost of living has eased over the past year but consumers are still under pressure. For business, planning is the key to managing Christmas volatility. The countdown to Christma

Anthony Pratt 19/11/24 Anthony Pratt 19/11/24

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Christmas Parties and FBT As the end of the year approaches, gifts and parties are likely to become a focus for your business. As always, we are here to remind you of your tax obligations and assist you in making informed decisions. Ch

Anthony Pratt 17/11/24 Anthony Pratt 17/11/24

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ATO targeting unpaid tax and super The ATO is changing its approach to businesses that continue to ignore ATO SMS and letter correspondence regarding unpaid tax and superannuation liabilities. Where businesses do not engage with the ATO

Anthony Pratt 17/11/24 Anthony Pratt 17/11/24

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Succession Planning When should your business be passed to the next generation? Over the next decade, around one million Australian business owners—primarily Baby Boomers and older Gen Xers—will exit their businesses, marking an unprece

Anthony Pratt 10/11/24 Anthony Pratt 10/11/24

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Navigating Uncertainty – Strategic Tips for Business Owners While inflation has recently declined, with annual Consumer Price Index inflation at 2.8% in the September quarter —down significantly from 3.8% in June - economic uncertainty c

Anthony Pratt 8/11/24 Anthony Pratt 8/11/24

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Your upcoming tax calendar for November 2024 With the end of the calendar year and the holiday season fast approaching, please do not forget about your tax obligations. In order to be across your tax obligations, below are the upcoming

Anthony Pratt 7/11/24 Anthony Pratt 7/11/24

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