Financial Planning

June 15, 2022

It is estimated that more than 800,000 Australians participated in the crypto/digital assets market in the last three years. According to the ATO, 2021 saw a jump in participants of 63% compared with the 2020 year. However, this surge in...

June 15, 2022

The ATO has recently updated its Law Administration Practice Statement on debt relief, waivers and non-pursuit of debt. Specifically, the Practice Statement guides the Commissioner's discretion not to pursue the recovery of tax debts and ATO's ability to release individual...

June 15, 2022

Now that the Labor party is officially in government, people will be interested to see what policies and changes are now likely to occur. A helpful starting point is Labor's election promises which provide a valuable indication of possible areas...

June 15, 2022

Tax time 2022 is here, and this financial year, the ATO will again focus on a few key areas to ensure that individuals are doing the right thing and paying the right amount of tax. The ATO considers these key...

June 15, 2022

Over the last six months, we have spent many hours developing a new brand that represents who we are as a business and a team. We believe the new brand demonstrates the growth and evolution of our company since its...

May 18, 2022

There have been some important changes to MYOB subscription payments. Up until this point, Roberts & Morrow have managed your subscription (practice pays)  however we are streamlining the MYOB process and arranging subscription payments with all clients to be directly debited from MYOB (client pays) Over the...

April 22, 2022

The PAYG instalment system allows a business to spread its income tax liability across the tax year. This helps with cash flow, but also means the business is not faced with a large tax bill after the end of...

April 20, 2022

Family trust beneficiaries at risk The tax legislation contains an integrity rule, section 100A, which is aimed at situations where the income of a trust is appointed in favour of a beneficiary, but the economic benefit of the distribution is...

March 31, 2022

The ATO has recently released a significant draft ruling around Div 7A, which ensures that private companies cannot make tax-free distributions of profits to shareholders or their associates in payments, loans, or forgiven debts. Generally, a private company is...