Oreon Partners is an accounting practice located in Kent Town, South Australia. We provide tailored accounting, advisory and financial planning services to a wide range of clients. We aim to have the right people, delivering the best results for our clients, with a focus on mutual growth and long-term success.…

Oreon Partners is an accounting practice located in Kent Town, South Australia. We provide tailored accounting, advisory and financial planning services to a wide range of clients. We aim to have the right people, delivering the best results for our clients, with a focus on mutual growth and long-term success.…

A question that often gets asked when dealing with death benefit nominations is whether a person will qualify under the interdependency or financial dependency definitions. This is an important consideration as meeting the dependency criteria will enable potential beneficiaries to qualify as a dependant and therefore allow them to receive a death benefit.

The new financial year can be a time where business owners look at their operating structure and consider whether it still meets their needs. Choosing a structure is not simply about minimising tax, rather a range of factors should be considered as such as asset protection, establishment and ongoing compliance costs, succession planning, and your understanding of each structure etc.

Although not related to tax, there are a number of changes on the Fair Work front that employers should be aware of.

The predicted slowing of the economy in 2023-24 along with the pay day super guarantee (SG) proposal are sure to make cashflow more important than ever for business over the coming months and years, noting that it is one of the biggest difficulties faced by business.

This could be the final opportunity for your business to take advantage of Temporary Full Expensing (TFE)…but get in before 1 July!

If you carry on your business affairs through a trust structure, there is now more clarity around the law on distributions following much uncertainty throughout the year.

ASIC has released fresh and timely information around crypto scams.

Scammers use cryptocurrencies, like bitcoin or ether, because they are not easily recovered. Crypto can be sent overseas quickly with limited oversight. If you lose your money to a crypto scam, your money is likely gone. If you buy crypto, only invest what you can afford to lose as it’s a somewhat volatile investment.

Are you one of the five million Australians who claim work from home deductions? If so, stricter record-keeping rules may now apply.

Have you missed the deadline to apply for a director identification number (director ID)?

If so, you can still apply!

The eligibility age for downsizer contributions reduced from 60 to 55 years from 1 January 2023. This means if you are age 55 or older, you could invest the proceeds of the sale of your family home to your superannuation outside of your standard contribution caps.

With many parts of Australia in the grip of a rental crisis, a significant number of tenants may be residing in the properties of friends and relatives.

The ATO Commissioner has just issued a warning to businesses on the importance of securing your .au domain name!

Following a recent cyber-attack, Optus customers are advised they could be at risk of identity theft. While Optus has not yet revealed how many of its 9.7million customers were impacted, they did confirm that the number was “significant”. Importantly, the breach has affected past Optus customers back to 2017, as…

You may be able to offset your business loss against other income (such as salary and wages) if you’re a sole trader or in a partnership.

The personal property securities register (more commonly known as the PPSR) is an official government register. It’s effectively a public noticeboard of security interests in personal property (see below) that is managed by the Registrar of Personal Property Securities.

Keeping good business records is important for a number of reasons. It assists you to:

• comply with your tax and superannuation obligations
• gain a greater insight into the financial health of your business, enabling you to make informed decisions
• manage your cashflow
• demonstrate your financial position to prospective lenders, and also potential buyers of your business.