Heaney Business Group

The ATO Debt Dilemma

In the closing months of last year, a myriad of taxpayers and their representatives were alerted by the Australian Taxation Office (ATO) regarding the existence of outstanding historical tax debts. […]

Pitfalls of the Fringe Benefits Tax

The fiscal period for the Fringe Benefits Tax (FBT) concludes on March 31st. We delve into the problematic areas that are expected to draw scrutiny from the ATO. Electric Vehicles […]

Inconsistencies Between Taxpayer Claims and ATO Evidence

A striking case brought before the Administrative Appeals Tribunal (AAT) recently underscored the critical nature of aligning one’s tax claims with the supporting evidence provided. This case revolved around heritage […]

Contractor or Employee?

The presence of a clause in a contract labeling a worker as an independent contractor isn’t the final word on their status for tax and superannuation purposes, according to recent […]

Can my SMSF invest in property development?

The Australian passion for property, combined with enticing tax benefits such as a 15% tax rate during the accumulation phase and possibly zero tax during retirement, motivates many SMSF trustees […]

Warning: Beware of Redrawing Investment Loans

The Australian Taxation Office (ATO) has raised concerns regarding the incorrect reporting of rental property income and expenses, resulting in an estimated annual loss of $1 billion in tax revenue. […]

Understanding the GST implications for food products

Have you ever wondered when food is considered GST-free? The distinction between GST-free and taxable foods can be quite nuanced, as exemplified by a recent case before the Administrative Appeals […]

The Updated Stage 3 Personal Income Tax Cuts

Legislated personal income tax cuts set to take effect from 1 July 2024 are set for a makeover, according to a new plan unveiled by the Federal Government. Following widespread […]

New Regulations on Fixed-Term Employment Contracts

Starting from 6 December 2023, significant changes are taking place regarding fixed-term employment contracts. As Heaney Business Group, we want to keep you informed about these important updates that will […]

Addressing Unpaid Trust Distributions to Private Companies

What unfolds when a trust designates income to a beneficiary in a private company but fails to execute the actual payment? The recent case of Bendel vs. Commissioner of Taxation […]

Super Guarantee Shortfall: Workers Owed $3.6 Billion

The latest estimates from the Australian Taxation Office reveal that workers are owed a staggering $3.6 billion in superannuation guarantees—a figure that both the government and regulators are keen on […]

Self-Education Expenses: What You Can Claim

Heaney Business Group provides insights into the latest developments from the Australian Taxation Office concerning self-education expenses. Explore the nuances of deductibility in self-education expenses and what falls within the […]