The end of 2022 is fast approaching. It’s been a big year for us, with a couple of highlights being the move to our fantastic new office at Lucas, and welcoming new team members. Our team are taking a much needed break over the Christmas and New Year period. Our office will be closed from […]
Christmas holidays 2022 Read More »
We’re often asked the best way to sell a business. There are two key components at play in the sale of a business: structuring the transaction; and positioning the business to the market. Both elements are important and can significantly impact your result. Structuring the transaction covers areas such as pricing the business, the
How to sell your business Read More »
The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business. An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and
120% deduction for skills training and technology costs Read More »
The RBA lifted the cash rate to 2.35% on 6 September 2022, marking a 7 year high. The increase comes a few weeks after Reserve Bank Governor Philip Lowe told the Australian Strategic Business Forum that “…we’re going through a process now of steadily increasing interest rates, and there’s more of that to come. We’ve
How high will interest rates go? Read More »
The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return. The first point to understand is that gains and losses from crypto are only reported in your tax return when you dispose of it – you sell it, convert it to fiat currency, exchange it for another type
Can I claim my crypto losses? Read More »
New legislation will make zero or low emission vehicles FBT-free. We explore who can access the concession and how Electric vehicles (EV) represent just under 2% of the new car market in Australia but it is a rapidly growing sector with a 62.3% jump in new EV registrations between 2020 and 2021. Making EVs
FBT-free Electric Cars Read More »
We recently caught up with our newly appointed Audit Manager, Ashley Richardson… When did you join the team at CountPro? I joined CountPro as an Audit Graduate in October 2014. What do you enjoy most about working at CountPro? Firstly, the staff and partners are fantastic group of people to work alongside which has
CountPro Team Profile – Ashley Richardson Read More »
Everyone knows you don’t pay tax on your family home when you sell it…right? We take a closer look at the main residence exemption that excludes your home from capital gains tax and the triggers that reduce or exclude that exemption. Capital gains tax (CGT) applies to gains you have made on the sale
Tax & the family home Read More »
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations. These letters are a warning shot and should not be ignored. The director penalty regime ensures that directors are personally
ATO ramps up heat on directors Read More »
A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up: For business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each year until it reaches 12% on
What’s changing on 1 July 2022? Read More »
