Last night, Treasurer Jim Chalmers handed down a budget with very few incentives for business. However, the proposed stage three tax cuts, which are due to kick in on 1 July 2024 are safe for now. Please click on this link to download our in-depth budget report to learn more on how the proposed measures…
With the end of Q1 looming, Hall Browns would like to remind you of some important upcoming dates relating to the lodgement of income tax returns. These relate to the deadlines for 2021/22 returns. 31 March 2023 This deadline applies to Companies and Superannuation Funds with a total income in the 2020/21 year of more…
It’s an unfortunate reality that cyber security attacks are on the rise and now more than ever organisations need to be proactive about protecting information from a range of scams and threats. As a result of the way recent high-profile breaches have played out in the media, our clients have been asking how we protect…
In 2022 Hall Browns began an international recruitment drive to supplement the shortage of accounting staff available locally. At the time Simon Grant of Chartered Accountants Australia and New Zealand (CA ANZ), in his capacity as Group Executive Advocacy and International Development, estimated that there were 9000 accounting vacancies across Australia. As a result of…
Last night, Treasurer Josh Frydenberg handed down a budget aimed at reducing the cost of living for individuals and families, while supporting businesses through Australia’s economic recovery and encouraging them to invest in innovation. We have prepared an in-depth budget report for you to download. Should you wish to discuss the impact of these announcements on…
The ATO has recently released a Draft Ruling TR 2022/D1 and Taxpayer Alert TA 2022/1 directly targeting Family Trust distributions made to adult children. In the Alert, the ATO have advised they are currently reviewing trust arrangements where Trust income is distributed to adult children (more than likely at a lower marginal tax rate), while…
We are excited to announce the launch of our new brand. We would like to thank the team at Prodigy Plus for their assistance and expertise with the design of the new branding and website. Prodigy Plus ran a workshop with the Hall Browns team to consider our mission, values and culture and we thank…
With Bitcoin at an all-time high and with the ever-increasing adoption of Cryptocurrency by large institutions and individuals alike, the ATO has re-iterated to taxpayers the importance of correctly declaring income relating to Cryptocurrency transactions.
Current Australian directors will now have one year to apply for their unique director identification number before substantial fines of potentially in excess of over $1.11 million are introduced for failure to comply with the new regime.
From 1 July 2021, self-managed super funds (SMSF) and small APRA funds (SAFs) will be allowed to have up to six members instead of four. The changes have been on the table for some-time but were finally passed in June 2021.
