Chrisco in trouble over lay-by agreements


It seems that Chrisco has gotten itself into some trouble yet again (is it just my imagination or do these guys seem to attract negative press around this time every year?). This time, the Australian Competition and Consumer Commission has instituted proceedings in the Federal Court against Chrisco Hampers Australia Limited (Chrisco) alleging contraventions of […]


How highly taxed are we compared to other countries?

Australia is the fifth-lowest taxed nation

While many of us may feel that we’re already paying enough to the taxman, recent Organisation for Economic Co-operation and Development (OECD) data reveals that Australia is in fact the fifth-lowest taxed nation of the 34 OECD member countries. (Statistics are taken from 2012 or the latest available year.) Australian total tax revenue was measured […]


Divorce and Your Super Savings


According to research by a large retail superannuation firm, going through a divorce can lump 10 more years on to the average Australian’s working life, as they endeavour to re-establish the level of retirement savings they may have accumulated through their married lives. Suncorp Superannuation’s Untying the Knot report (download it here) purports to have […]


Australia’s Longevity Outlook

Australian's living longer

  Talk of Australians’ rising life expectancies has been making headlines as of late. The latest data from the Australian Bureau of Statistics projects a “life expectancy at birth” age of 79.9 for men and 84.3 for women. But representative body the Actuaries Institute said those who have already reached the age of 65 can […]


Act Now To Secure These Business Deductions


Small businesses may want to act now and bring forward their capital purchases if they still wish to utilise the instant asset write-off of $6,500 or the $5,000 motor vehicle write-off in 2013-14. The details of the government’s repeal of the Minerals Resource Rent Tax (MRRT) make it clear that some small business tax concessions […]


Tax help for people affected by bushfires


The ATO have said that refunds will be fast tracked for people directly affected by bushfires and they will have additional time to lodge income tax returns and activity statements. “You do not need to apply for a deferral or a faster refund if your business or residential address is in one of the identified […]


New Government Likely Tax & Super Changes

New Government Likely Tax & Super Changes

With a new Coalition government in Canberra, several aspects of the economic environment, both for businesses big and small as well as for individuals, look likely to change in the near future. While specific details are still to be formulated and released, there are several known policies that the Coalition have outlined and that are […]


How long does it take to earn the price of a beer?


Every year in the Bavarian city of Munich, the Oktoberfest famously celebrates beer in all its forms. Over the 16-day event, visitors manage to consume around 7.6 million litres of the amber fluid, which sold at a recent festival for an inflated asking price of €9 (around $13.50) per litre, which is the capacity of […]


Increase in Medicare levy to affect other tax rates


By now, most of you will be aware of the government’s decision to increase the Medicare levy by 0.5% to fund Australia’s DisabilityCare program. From July 1, 2014, the Medicare levy will increase from 1.5% to 2% of taxable income. What many people may not realise however is that the Medicare levy increase will cause […]


Private Health Insurance Tax Return Changes [Video]


From the 2012–13 financial year (so for your current tax return), the private health insurance rebate is being income tested against three income tier thresholds. This means if you have private health insurance, the amount of rebate you will be entitled to receive is reduced if your income is more than certain threshold income amounts […]