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“Succession planning, and the tax risks associated with it, is our number one focus in 2025. In recent years we’ve observed an increase in reorganisations that appear to be connected to succession planning.”ATO Private Wealth Deputy Commissioner Louise Clarke The Australian Taxation Office (ATO) thinks that wealthy babyboomer Australians, particularly

The Government has handed down its third Federal Budget delivering a surplus of $9.3bn, with major initiatives such as the $22.7bn Future Made in Australia package at the forefront, while also attempting to balance competing priorities by providing cost of living relief without stimulating stickier than expected inflation.  The opposition and various

As we move quickly towards the end of another financial year, the ATO is in the process of ramping up its collection activities through a variety of methods. In a recent address, the ATO Tax Commissioner indicated that almost two-thirds of the $50bn in uncollected debt owed relates to small

We’ve seen a rapid expansion of the use of electric vehicles over the last few years, driven by consumer behaviours, a focus on climate change and sustainability measures, along with governments worldwide implementing incentives to encourage sustainable transportation.  One of the current governments pre-election policy announcements was to provide an

Effective record keeping is the backbone of financial management for businesses in Australia. It not only ensures compliance with legal requirements but also provides valuable insights into your company’s financial health. In this guide, we’ll explore the importance of record keeping, the key records you need to maintain, and best