Blog | Summers & Summers Miranda

Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season.

New guidance from the Australian Taxation Office (ATO) walks through the tax impact of small-scale subdivision projects.

According to the ATO, there are many reasons as to why you could be receiving a tax bill this tax time.

Welcome to the 2024 financial year - here's what's new.

Here's more of what you need to know for the small business boosts.

The federal government have passed new legislation for small and medium businesses.

The ATO has warned that it will no longer accept estimates or a sample diary over a four week period for the 67 cents fixed rate method of claiming work from home deductions. From 1 March 2023 You will need to demonstrate the actual hours you worked from home.

The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions - changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses.

From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation.

Cryptocurrency is a growing asset class, larger than collectibles and personal use assets, and overseas property.

NSW moves on property based taxes.

Here's the latest update on the QLD land tax saga.

What you need to know about stage three personal tax cuts.

There are two key components at play in the sale of a business - do you know what they are?

The Skills and Training boost is a 120% tax deduction for expenditure incurred on external training courses provided to employees.

This is a 120% tax deduction for expenditure incurred on business expenses and depreciating assets that support digital adoption.

The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business.

Small businesses urged to register their internet domain names ASAP

The Federal Government is not alone in using concessions to encourage electric vehicle ownership.

New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how.

The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return.

“…we're going through a process now of steadily increasing interest rates, and there's more of that to come" - Bank Governor Philip Lowe

If you inherit a property and later sell or otherwise dispose of it, you may be exempt from capital gains tax (CGT).

Your status as a tax resident can play a big factor in whether or not you can apply for CGT exemptions.

Sometimes life happens and personal circumstances change, but how does this affect your tax? We take a look at the most common issues you may face.

You cannot apply a full main residence exemption to a property that you use to produce income, however you may qualify for a partial exemption.

Everyone knows you don’t pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption.

Here's what you need to know.

When is tax paid on cryptocurrency?

The ATO plan to focus on rental income and deductions in tax returns.