The ATO has tightened its approach to deductions for holiday homes that are also rented out. Learn how private use during peak periods could affect your ownership-cost deductions and what property owners should review before lodging their next tax return.
The 2026 Federal Budget proposes a 30% minimum tax on discretionary trusts, with significant implications for trust distributions, bucket companies, franking credits and family tax planning. This practical Cruz & Co guide explains the proposed changes, who may be affected and what trustees should consider before taking action.
2025–26 Financial Year Your 2026 Tax Time Essentials Guide Tax time is nearly here, and with 30 June fast approaching, now is the perfect moment to get your records in order, understand what you can claim, and make sure you’re not leaving money on the table — or in the ATO’s sights. Let’s walk through […]
Tax planning is an essential aspect of financial management for individuals and businesses. It involves taking steps to minimise tax liability and maximise tax benefits, while also ensuring compliance with tax laws and regulations. Tax planning can provide significant benefits, including financial savings and better control over your finances. We will discuss the importance of […]
I have been asked numerous times “what can I do to lower my tax bill”. There are various ways to do this, but it ultimately comes down to educating yourself in this area. Lowering your tax bill can be achieved through various strategies that are legal and compliant with tax laws. Here are some tips […]
There are several strategies that businesses can review and implement before 30 June to reduce their tax liability and improve their financial position. Here are some things to consider: Prepaying expenses Businesses can review their expenses to ensure they are maximising their deductions. This includes reviewing and prepaying expenses such as rent, insurance, subscriptions, […]
Minimise your tax liability and Maximise your tax refund, by ensuring you are claiming what you are entitled to. There are various deductions available that can be claimed on your tax return, but it’s important to ensure that you are eligible to claim them and that you have the necessary documentation to support your claims. […]
The ATO has made changes to the way that working from home deductions can be claimed by eligible taxpayers for the 2023 income year. If you have genuinely worked from home at any time from 1 July 2022 to 30 June 2023, you may be eligible to use the ATO’s revised fixed-rate (67 cents per […]
We are nearing the end of financial year again. Here are some things to consider to reduce the tax bill or defer some of it to next year: Other things to consider before 30 June: If you have any questions or concerns regarding these, please contact us.
