NEWS

Accounting
The ATO’s updated small business benchmarking tool
22/05/2025

The ATO has updated its small business benchmarks with the latest data taken from the 2022–23 financial year. These benchmarks cover 100 industries and allow …

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Accounting
What’s changing on 1 July 2024?
25/06/2024
Here’s a brief summary of the key changes coming into ...
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  • Accounting, Small Business, Taxation

Instant asset write-off threshold finally confirmed

It has been a long time coming, but the Government finally passed legislation increasing the instant asset write-off threshold for the year ending 30

  • Accounting, Taxation

Year-end tax planning opportunities & risks

With the end of the financial year fast approaching we outline some opportunities to maximise your deductions and give you the low down on

  • Business, Finance, Taxation

Trade Wars & Tariffs

Global Google searches for the word “tariffs” spiked dramatically between 30 January and 2 February 2025, a +900% increase to the previous 12 months.

  • Accounting, Business, Small Business, Taxation

FBT 2025: What you need to know

The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.   FBT exemption for electric

  • Accounting, Superannuation, Taxation

Threshold for tax-free retirement super increases

The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025.   The transfer

  • Accounting, Superannuation

Is there a problem paying your super when you die?

The Government has announced its intention to introduce mandatory standards for large superannuation funds to, amongst other things, deliver timely and compassionate handling of

  • Accounting, Business, Small Business

Will credit card surcharges be banned?

If credit card surcharges are banned in other countries, why not Australia? We look at the surcharge debate and the payment system complexity that

  • Accounting, All locations, Announcements, Business

Phasing out cheques

The Government has announced a transition plan to phase out the use of cheques. Under the plan, cheques will stop being issued by 30

  • All locations, Business, Small Business, Taxation

Tax and tinsel Q&As

Can you avoid giving the Australian Tax Office a gift this Christmas?   The top Christmas party questions   What can I do to

  • All locations, Announcements, Finance, Investment

CountPro is now able to assist with your financial planning needs

When it comes to individual wealth creation, having the support and guidance of a trusted financial advisor can make a big difference.   We

  • Accounting, Business, Investment, Small Business

01 Succession: the series

Ok, not that Succession series. Each month we’ll bring you a new perspective on transferring property. Be it estate planning, managing an inheritance, or

  • Superannuation

Payday super: the details

‘Payday super’ will overhaul the way in which superannuation guarantee is administered. We look at the first details and the impending obligations on employers.

  • Accounting, Budget, Business, Taxation

Is the RBA to blame? The economic state of play

The politicians have weighed in on the Reserve Bank of Australia’s economic policy and their reticence to reduce interest rates in the face of

  • Business Investment, Investment, Taxation

Property and ‘lifestyle’ assets in the spotlight

Own an investment property or an expensive lifestyle asset like a boat or aircraft? The ATO are looking closely at these assets to see

  • Accounting, Announcements, Business, Taxation

It wasn’t me: the tax fraud scam

You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of

  • Accounting, Business, Business Investment, Small Business

The rise in business bankruptcy

ASIC’s annual insolvency data shows corporate business failure is up 39% compared to last financial year. The industries with the highest representation were construction,

  • Accounting, Announcements, Taxation

The changes to how tax practitioners work with clients

The Government has amended the legislation guiding registered tax practitioners to include compulsory reporting of material uncorrected errors to the Tax Commissioner.   The

  • Accounting, Business, Small Business

Divorce, you, and your business

Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be

  • Accounting, Business, Small Business, Superannuation, Taxation

What’s changing on 1 July 2024?

Here’s a brief summary of the key changes coming into effect on 1 July 2024: Tax cuts reduce personal income tax rates and change

  • Accounting, Taxation

ATO fires warning shot on trust distributions

The ATO has warned that it is looking closely at how trusts distribute income and to who.   The way in which trusts distribute

  • Accounting, Business, Finance, Investment, Taxation

The Essential 30 June Guide

The end of the financial year is fast approaching. We outline the areas at risk of increased ATO scrutiny and the opportunities to maximise

  • Superannuation

Warning on SMSF asset valuations

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.   ATO data analysis has revealed that over 16,500 self

  • Accounting, Taxation

The assault on professional services

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax.   Two new cases before

  • Business, Business Investment, Small Business

How much is my business worth?

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But

  • Budget, Taxation

Budget 2024-2025

The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the

  • Accounting, Taxation

Revised stage 3 tax cuts confirmed for 1 July

The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024.   Before the new tax rates

  • Accounting, Budget, Business, Small Business, Taxation

Getting back what you put in: Loans to get a business started

It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until

  • Accounting, Superannuation, Taxation

How to take advantage of the 1 July super cap increase

From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change.  

  • Accounting, Budget, Small Business, Taxation

The ATO Debt Dilemma

Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax

  • Accounting, Business, Small Business, Taxation

The Fringe Benefits Tax traps

The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.   Electric vehicles

  • Accounting

Non-charitable not-for-profits self-review return guide

As part of the 2021-22 federal budget, the Australian Government announced reforms to the administration of not-for-profit (NFP) entities that self-assess as income tax

  • Accounting, Announcements, Taxation

The Redesigned Stage 3 Personal Income Tax Cuts

The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal

  • Accounting, Announcements

New regulations for Incorporated Associations

New regulations for incorporated associations in Victoria came into effect on 18 November 2023. These new regulations include updates to the model rules which

  • Accounting, Taxation

Self-education: What can you claim?

The Australian Taxation Office have released a new draft ruling on self-education expenses. We revisit the deductibility of self-education expenses and what you can

  • Accounting, Investment, Superannuation

30% tax on super earnings above $3m

Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances above $3m from 15%

  • Accounting, Investment, Taxation

The ‘Airbnb’ Tax

Property investors that choose to utilise their property for short-term stays (or leave it vacant) are firmly in the sights of the regulators.  

  • Accounting, Business, Business Investment, Small Business, Taxation

$20k deduction for ‘electrifying’ your business

Electricity is the new black. Gas and other fossil fuels are out. A new, limited incentive nudges business towards energy efficiency. We show you

  • Accounting, Taxation

Not-for-profits – enhancing the transparency of income tax exemptions

The ATO has published details of reforms to the administration of not-for-profit (NFP) entities that self-assess as income tax exempt. Information from the ATO

  • Announcements

CountPro Team Profile – Michael Hutton

Join us as we catch up with Auditor, and sports enthusiast, Michael Hutton…   When did you join the team at CountPro? I started

  • Announcements, Business

Business Awards Success

The CountPro team was thrilled to take out two awards at the recently held 2023 Federation University Commerce Ballarat Business Excellence Awards. In their

  • Accounting, Investment

Thinking of subdividing? The tax implications and pitfalls of small-scale subdivisions

You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the

  • Accounting, Business, Small Business

Succession: What does it take to hand your business to the next generation?

What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully

  • Accounting, Announcements, Taxation

Why is my tax refund so small?

The tax refund many Australians expect has dramatically reduced. We show you why.   There is a psychology to tax refunds that successive Governments

  • Announcements

CountPro TV stars!

Our team will be on Win TV as part of the 2023 Federation University Commerce Ballarat Business Excellence Awards!
  • Announcements

CountPro Team Profile – Kiri Fry

Last week we caught up with Administration Manager, Kiri fry, to ask the tough questions…   When did you join the team at CountPro?

  • Accounting, Announcements, Business, Finance, Investment, Small Business, Superannuation, Taxation

What changed on 1 July 2023

A summary of the important changes that came into effect on 1 July 2023.   Employers & business Superannuation guarantee increases to 11% from

  • Accounting, Business, Small Business

The 120% technology and skills ‘boost’ deduction

The 120% skills and training, and technology costs deduction for small and medium business have passed Parliament. We’ll show you how to take maximise

  • Announcements, Business

2023 Federation University Commerce Ballarat Business Excellence Awards

The team at CountPro are excited and proud to have been selected as finalists in the following categories of the 2023 Federation University Commerce

  • Accounting, Business, Small Business, Superannuation

Increase to the super guarantee rate

Although not announced as part of this year’s Federal Budget, it’s important for employers to note that the superannuation guarantee (SG) rate will increase

  • Investment, Taxation

ATO Rental Property Blitz

The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses.   The ATO’s assessment,

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