There was a recent case before the Federal Court which had to deal with the issue of when is an asset acquired for CGT purposes when an option is exercised to acquire it. Is it at the time the option agreement is entered into or is it when the option is exercised? And it is...

The capital gains tax (CGT) rules provide a lot of important concessions where a capital gain arises in unusual or unexpected circumstances. One such concession is the rollover where a CGT asset (or part of one) is lost or accidentally destroyed. This typically occurs where a natural disaster occurs (eg flood, fire, cyclone etc) which...

Three recent Administrative Review Tribunal (ART) decisions on claims for car expenses have shone a light on what the law requires in relation to car logbooks. Where you use your car for business purposes, there are two ways of making a claim – the cents per kilometre method for up to 5,000 business kilometres, or...

During the COVID pandemic years, we all suffered in one way or another – in particular the small businesses who relied on customers coming through their doors. Mr Lewis was one such small businessman who operated a “multi-gym business” and who as result of the COVID pandemic found it impossible to keep his business operating...

Granny flats are becoming more of a common feature of the urban environment. No doubt this is due to the ongoing and unremitting nature of the housing affordability crisis, and the relaxing of regulations about where and how they can be built. And they do seem to offer a very viable solution to the problem...

There’s been a lot of talk about changes to super, and one of the biggest updates is now official. The government has passed the Division 296 tax, which will start from 1 July 2026. While it mainly affects people with large super balances, it’s still important to understand what’s changing and why. A quick recap...

There is a lot of talk in the media about whether the government is going to change the 50% CGT discount – which currently provides for a taxpayer to be only assessed on half their capital gain. But note the discount is only available if you have owned the asset for more than 12 months...

The Commonwealth Seniors Health Card (CSHC) can be valuable for many self-funded retirees, helping reduce out-of-pocket health costs (for example, cheaper PBS medicines and other concessions). But its income tested, and an upcoming rise in deeming rates may affect some people’s eligibility. CSHC income cut-off thresholds To qualify, you must meet the CSHC income test...

From 1 July 2026, employers must pay their employees’ superannuation guarantee (SG) contributions at the same time as salary or wages. This new system is known as payday super. Currently, most employers pay super on a quarterly basis. From July 2026, super will instead need to be paid each pay cycle. The ATO has released...

If you receive a part or full Age Pension you might see changes to how your income is assessed by Centrelink over the coming year. One of the key drivers of this is social security deeming rates, which the Government has already signalled will be rising. What are deeming rates? Deeming rates are the assumed...