![](https://images.prismic.io/richardsfinancialservices/ZqxSDx5LeNNTxvfV_EARNEDANINCOMEFROMTHESHARINGECONOMY%3F.jpg?auto=format,compress)
EARNED AN INCOME FROM THE SHARING ECONOMY?
It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.
It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.
The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it.
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end of the financial year.
WHAT’S AHEAD FOR 2024-25?
QUOTE OF THE MONTH
WHAT’S CHANGING ON 1 JULY 2024?
47% of Australian adults with debt - struggled to make repayments in the last 12 months
The ATO has warned that it is looking closely at how trusts distribute income and to who.
If you want super contributions to be included in the 2023-24 financial year (for tax deductibility) the contributions need to reach the super funds by 30 June 2024.
The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise your deductions.
QUOTE OF THE MONTH
The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs).
The ATO is cracking down on business owners who take money or use company resources for themselves.
2024-25 BUDGET
If you are looking to hand your business to your children or relatives, there are a few key issues to think about
The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst.