Budget 2023-24
The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years driven by a range of factors.
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Collins Hume
- Apr 19
What sharing platforms are sharing with the ATO?
New rule from 1 July 2023: Taxi and short-term accommodation providers must report transactions to ATO annually.
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Collins Hume
- Apr 12
How does tax apply to electric cars?
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the ATO has released new details on electric vehicles.
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Collins Hume
- Mar 27
Super balance increase
The general transfer balance cap (TBC) will increase by $200,000 on 1 July 2023 to $1.9 million.
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Collins Hume
- Mar 20
Executive Assistant Carol Holton
Carol Holton, an integral member of our team, has decades of experience. As the "mother" of the firm Carol has also seen Collins Hume grow.
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Collins Hume
- Mar 13
Claiming deductions on holiday homes
The ATO has published a range of starter questions they will be asking to scrutinise claims on holiday homes.
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Collins Hume
- Mar 8
Collins Hume Update Autumn 2023
It's our birthday month — thanks to all our clients who choose Collins Hume to help them in business and in life!
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Collins Hume
- Mar 6
Updated working from home methods
The ATO has ‘refreshed’ the way deductions for the costs incurred when working from home are claimed.
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Collins Hume
- Feb 21
Final position on trust distributions
If you have a discretionary trust, it will be crucial that all trust distribution arrangements are reviewed in light of new ATO guidance.
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Collins Hume
- Jan 16
Taxing fame
The ATO has taken a u-turn on how fame and image should be taxed.
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Collins Hume
- Dec 16, 2022
Further eligibility changes to downsizer contributions age
The reduced eligibility age to make a downsizer contribution from age 55 is now law.
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Collins Hume
- Nov 18, 2022
Scams and how to avoid them
Protect yourself and your business — with Christmas just around the corner, we can expect to see another escalation of scam activity.
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Collins Hume
- Oct 26, 2022
2022-23 Budget 2.0
Read our summary about the Budget's practical tax implications for individuals, small businesses and superannuation.
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Collins Hume
- Jul 18, 2022
What changed on 1 July?
A quick reminder of what has changed for business and individual taxpayers from July 2022.
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Collins Hume
- Jul 11, 2022
What to expect from the new Government
We look at what we know so far about the policies of the new Government in a challenging environment and no easy fixes.
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Collins Hume
- Jul 4, 2022
Capital gains from crypto, property or other assets
If you dispose of an asset eg property, shares, crypto or NFTs, or collectables you'll need to show a capital gain/loss in your tax return.
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Collins Hume
- Jul 1, 2022
Rental property income and deductions
For landlords, the focus is on ensuring that all income received is recognised in your tax return.
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Collins Hume
- Jun 27, 2022
Claiming work-related expenses
When claiming WRE there must be a nexus between the expenses you are claiming and how you earn your income. We explain.
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Collins Hume
- Jun 24, 2022
Tax Time Targets — Recordkeeping
With tax season upon us the ATO has revealed its four areas of focus this tax season. We start with recordkeeping requirements.
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Collins Hume
- May 30, 2022
ATO turns up heat on directors
The ATO warns directors potentially in breach to ensure the company they represent meets PAYG withholding, SGC and GST obligations.
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