2024–25 Federal Budget Highlights

2024–25 Federal Budget Highlights

The 2024–25 Federal Budget is out, here are the highlights sharing what you need to know for you financial year ahead
#FederalBudget2024

Practice Update – April 2024

CFH Partners Tax Update April 2024

How to claim working from home expenses Taxpayers who have been working from home this financial year, and who consequently incurred work-related expenses, have two ways to calculate their work from home deduction: Using the fixed rate method, taxpayers can claim a rate of 67 cents per hour worked at home. This amount covers additional […]

Practice Update – March 2024

Super contribution caps to rise The big news story for those contributing to super is that the contribution caps are set to increase from the 2025 income year. This ‘CC’ cap is broadly applicable to employer super guarantee contributions, personal deductible contributions and salary sacrificed contributions. This ‘NCC’ cap is generally applicable to personal non-deductible […]

Christmas Parties & Gifts 2023

End-of-year-Christmas-party-FBT

With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. However, there are important issues to consider, including the possible FBT and income tax implications of providing ‘entertainment’ (including Christmas parties) to staff and clients.

Practice Update -March 2023

Focus on Tax

Significant change to claiming working from home expenses  Before 1 July 2022, an individual taxpayer that incurred additional deductible expenses as a result of working from home, had a choice of three methods to claim these expenses.   These choices were: The shortcut method – which was available from 1 March 2020 to 30 June 2022;  […]

GST on Business Purchases from Overseas

Does your business buy products and services from overseas suppliers? If so, you may be charged GST, but not always!

We can review your accounts and software tax codes to make sure GST claims on overseas purchases are correct.

Fringe Benefit Tax at Christmas Time

It is a time of the year when giving is encouraged. As a business owner, you may want to make sure you have all the information available to you, so that you are fully aware of your tax obligations this Christmas. Christmas parties The cost of food and drink associated with a Christmas party is […]

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