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Tax Time Targets — Recordkeeping
Collins Hume
  • 1 day ago

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.
3 views
Deduction for skills training and technology
Collins Hume
  • Jun 13

Deduction for skills training and technology

We clear the confusion (as much as possible) on the 120% deduction for skills training and technology announced in the Federal Budget.
5 views
What’s changing on 1 July 2022?
Collins Hume
  • Jun 5

What’s changing on 1 July 2022?

We look at the ample number of changes coming into force from 1 July 2022.
11 views
Can I claim a tax deduction for my gym membership?
Collins Hume
  • May 23

Can I claim a tax deduction for my gym membership?

Can you claim a deduction for your gym membership? The administrative appeals tribunal clarifies.
31 views
Fuel tax credit changes
Collins Hume
  • May 16

Fuel tax credit changes

The temporary halving of excise and excise equivalent customs duty rates has caused a reduction in fuel tax rates.
7 views
Employees vs contractors
Collins Hume
  • Apr 4

Employees vs contractors

Every business that employs contractors should have a process in place to ensure the correct classification of employment arrangements.
48 views
Budget 2022-23 Summary
Collins Hume
  • Mar 30

Budget 2022-23 Summary

The 2022-23 Federal Budget is a safe, ballot box friendly Budget as expected with a focus on cost of living, homeownership, and health.
24 views
Immediate Deductions Extended
Collins Hume
  • Mar 28

Immediate Deductions Extended

This measure enables an asset’s cost to be fully deductible upfront rather than being claimed over the asset’s life, regardless of the cost.
26 views
Trusts and Trust Distributions
Collins Hume
  • Mar 14

Trusts and Trust Distributions

The ATO released guidance that targets how trusts distribute income. Many family groups will pay higher tax as a result of this new approach
65 views
Professional Services Firm Profits
Collins Hume
  • Feb 27

Professional Services Firm Profits

The ATO’s finalised position on the allocation of profits from professional firms starts July 2022 with two gateway tests.
7 views
If Santa was an Australian tax resident
Collins Hume
  • Dec 15, 2021

If Santa was an Australian tax resident

A lighter look at the complexity of Australian taxation laws and the year that has been.
8 views
The top Christmas tax questions
Collins Hume
  • Dec 12, 2021

The top Christmas tax questions

Every year, we get asked about the tax impact of various Christmas or holiday-related gestures. Here are your top issues.
17 views
Katapult Design speaks with Collins Hume
Collins Hume
  • Dec 7, 2021

Katapult Design speaks with Collins Hume

It was a privilege to spend some time with Nathan at Katapult Design to find out what makes his business tick and how Collins Hume helps.
38 views
Plan ahead to avoid a tax headache in the New Year
Collins Hume
  • Nov 28, 2021

Plan ahead to avoid a tax headache in the New Year

Many employers are looking to bring a little bit of cheer to their employees this Christmas. Here's how not to let tax spoil the party.
9 views
Video: Cryptocurrency and tax
Collins Hume
  • Nov 14, 2021

Video: Cryptocurrency and tax

Christopher Atkinson discusses the latest guidance from the ATO in our video summary of the commonly asked questions about cryptocurrencies.
53 views
Tax and the Normalisation of Cryptocurrency
Collins Hume
  • Nov 10, 2021

Tax and the Normalisation of Cryptocurrency

The Australian Taxation Office recently updated its guidance on tax and cryptocurrency.
6 views
What happens to your superannuation when you die?
Collins Hume
  • Sep 14, 2021

What happens to your superannuation when you die?

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. Read why.
41 views

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