$1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of control?
It was promoted as a victimless hack that delivered tens of thousands of dollars into your bank account. Like any hack, taking part
was as simple as following the instructions. The streamlined process designed to make it easy for a small business to start-up under
Australia’s self-assessment system, also made it easy for the ‘TikTok fraud’ to go viral.
“Everyone else got refunds, it's OK, it's just a temporary loan [from the ATO].”
TikTok
social influencer
We provide strategic business and tax advisory, underpinned by our expertise in financial planning to ensure we develop financial structures that are smart and well considered.
The smaller capital cities of Perth and Brisbane are expected to be the top performers over the next 12 months.
An SMSF can invest in property development if trustees ensure the investment complies with the rules.
An SMSF can invest in property development if trustees ensure the investment complies with the rules.
Consolidating various debts into your home loan can be a strategic financial move that reduces your interest and allows you to pay the debt down faster.
The problem when the evidence doesn’t match what the taxpayer tells the ATO.
An SMSF can invest in property development if trustees ensure the investment complies with the rules.
An agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes.
One of the best parts of the summer holidays is packing up the car and heading off on a family holiday. Many Australians are staying at caravan parks in iconic locations
The personal income tax cuts legislated to commence on 1 July 2024 will be realigned and redistributed under a proposal released by the Federal Government.
Home is the biggest expense and the sooner you can pay down the debt, the better off you’re going to be financially.
With affordability challenges in major cities, buyers may explore "bridesmaid suburbs" – second-choice areas that offer more reasonable property prices.
Buying a property, whether as an investment or residence, is never a straightforward process. Take time to research properties, and then make a competitive offer to get the deal done.
Without the need for upfront payments, asset finance can play an important role in improving a business's cash flow management.
The report found that student accommodation is also likely to see steady rental growth in 2024.
After a tough year for commercial property investors, the outlook will be better in 2024, according to an expert.
Australian property prices have officially recovered from the declines of last year, home prices have risen by 8.1%, taking values to a new record high at the end of November.
A decision by the Administrative Appeals Tribunal has the tax world in a flurry after found taxpayer who sold the apartment she lived in for a loss, then claimed the $265,935 loss in her tax return as a deduction.
Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament.
Commercial investors continue to seek out alternative assets even as higher interest rates see demand for the sector slow down.
We are thrilled to share that Shannon Smit, our Founding Director and CEO, has been appointed to the ATO's Small Business Stewardship Group for 2024/25.
Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024.
Queensland first-home buyers have another reason to celebrate this Christmas with the state government recently doubling the first home owner grant to $30,000.
2023 has been a tricky year for commercial property investors. However, the tourism and industrial sectors have continued to be the strongest performers.
If your work Christmas party is out of the office, keep the cost of your celebrations below $300 per person if you want to avoid paying FBT.
Sellers who list their properties during the holiday season are typically motivated for a quick sale.
As the calendar approaches the year's end, car manufacturers are keen to make space for the latest models set to hit the market in the new year.
Cash flow issues can be particularly challenging during the holiday period, so business owners need to be on guard and plan ahead.
While giving gifts and spending time with family is important, if you’re looking to buy a home, it’s important that you keep your finances on track.
Recent research shows why giving to others can provide us with a mental boost. We feel happier when we have a choice in how and who we give, and when we see the results of our generosity.
Spending big over Christmas can risk undoing good budget habits. Thinking differently opens up lots of opportunities to spend less while still experiencing the joys of the season.
Rising interest rates hit smaller companies. Now it looks like the rate rise cycle could be coming to an end.
We step through recent research that shows why giving to others can provide us with a mental boost.
As the holiday season approaches, it's crucial to consider how your spending habits may influence especially when it comes to utilising easy credit options.
A budgeting app is an app designed to help you optimise the spending and savings choices you make each month.
We'll dive into some of the everyday mistakes and tricky grouping issues that small businesses often encounter when dealing with payroll tax.
Maintaining control over cash flow is undeniably a complex balancing act. It's a challenge that lacks a quick and universal solution.
This article aims to shed light on red-flag indicators that may suggest it's time to consider changing accountants, providing insights into the reasons behind such a decision.
Prepare Your Business for a Successful New Year - Challenging conditions, unpredictable supply chains, and increasing inflation highlight the importance of expert financial support.
A dedicated construction and trade accountant possesses an in-depth understanding of the sector's unique requirements and intricacies.
The journey often begins with businesses adopting simple ownership structures, yet as they progress and expand, intricate challenges emerge.
While any accountant can handle trade-related finances, opting for a specialist in the trades industry offers unique advantages.
Regularly monitoring your income and expenses is crucial. These practices will help keep your financial standing robust.
Several options when it comes to acquiring earthmoving equipment. One of the most common choices is to own the equipment outright.
According to the Australian Institute of Family Studies, more than half of Australian mothers expect their children to graduate from university.
Despite an increase in the region’s office vacancy rate the Gold Coast office market is facing a shortage of office space within the next three years.
Education is the gateway to unlocking opportunities and creating a brighter future. While various methods to establish an education fund, Investment Bonds are frequently contemplated.
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.
