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Cybersecurity is fast becoming a critical business strategy – and if it’s not, it should be. Many businesses hold critical data that poses significant risk to both businesses and their customers if the data they hold is not safeguarded from cybersecurity threats. The largest threats to businesses come from external entry points exposed by staff, through phishing links, malware being

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The ATO is seeing sole traders make mistakes in the following areas: not reporting all income — this includes income earned outside their business (like a ‘side hustle’), cash jobs, or payments in-kind/barter deals; overclaiming expenses — this includes claiming the portion of an expense related to personal use, or overstating the cost of goods sold and other business expenses;

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A little heads up, as of 01 July 2025 Xero are increasing their subscription fees. From 1 July 2025, Xero will be increasing their subscription fees for their Grow, Comprehensive and Ultimate plans. Read more from Xero. The new monthly prices will be as follows: Grow – $75.00 inc GST Comprehensive – $100.00 inc GST Ultimate 10 – $130.00 inc GST

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Taxpayers should remember that they are legally required to keep certain records for their not-for-profit (‘NFP’). All organisations including NFPs are required to keep accurate and complete records of all transactions relating to their tax and superannuation affairs. Generally, for tax purposes, taxpayers must keep their records in an accessible form (either printed or electronic) for five years. Records that

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The ATO wants taxpayers to know that having a foreign resident capital gains withholding (‘FRCGW’) clearance certificate does not mean they do not have any further CGT obligations. If taxpayers have sold property, they still need to include capital gains, losses or an exemption or rollover code in their tax return.  If an amount of FRCGW was withheld from the

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An SMSF must pay a minimum amount each year to a member who is receiving an account-based pension. This minimum amount is calculated by applying the relevant percentage factor based on the member’s age by the member’s pension account balance calculated as of 1 July 2024, or on a pro-rata basis if the pension commenced part way through the 2025

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The ATO has the following tips for small business owners “that can make your tax life easier”: They should keep an eye on upcoming expenses, and regularly update their books and reconcile their accounts. They should set aside the GST they collect (e.g., by transferring it into another bank account within the business to keep it separate from their cash

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With 30 June just around the corner, we wanted to quickly remind you about superannuation contributions and how they can affect your tax deductions. To claim a deduction for this financial year, any personal super contributions need to be paid and received by your super fund before 30 June. It’s always a good idea to allow a little extra time to ensure

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In the 2025-26 Federal Budget the Government announced a ban on non-compete clauses and “no poach” agreements. In the 2025-26 Federal Budget, the Government announced its intention to ban non-compete clauses for low and middle-income employees and consult on the use of non-compete clauses for those on high incomes (under the Fair Work Act the high income threshold is currently

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The Full Federal Court recently dismissed the ATO’s appeal against an AAT decision that unpaid present entitlements (‘UPEs’) owing by a trust to a corporate beneficiary were not “loans” for Division 7A purposes. A corporate beneficiary had become entitled to a share of the income of a trust for the 2013 to 2017 income years.  Parts of these entitlements remained

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