Heaney Business Group

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 […]

30% Tax on Super Earnings Above $3M

Heany Business Group brings to your attention a significant development in taxation affecting superannuation earnings. The Treasury has unveiled preliminary legislation to implement the Government’s proposal to raise the tax […]

The Airbnb Tax

Property investors opting for short-term stays or leaving their properties vacant are now under increased regulatory scrutiny The Victorian Government’s recent Housing Statement introducing Australia’s inaugural short-stay property tax. Scheduled […]