Latest news

When is a gift not a gift?

When is a gift not a gift?

A gift of money or assets from an individual is generally not taxed if the gift is given voluntarily, nothing is expected in return, and the gift giver does not materially benefit. However, there are some circumstances where tax might apply…

Earned an income from the sharing economy?

Earned an income from the sharing economy?

It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return. Since 1 July 2023, the platforms delivering ride-sourcing, taxi travel, and short-term accommodation (under 90 days), have been...

Is your family home really tax free?

Is your family home really tax free?

The main residence exemption exempts your family home from capital gains tax (CGT) when you dispose of it. But, like all things involving tax, it’s never that simple. As the character of Darryl Kerrigan in The Castle said, “it’s not a house. It’s a home,” and the...

$20k instant asset write-off passes Parliament

$20k instant asset write-off passes Parliament

Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just 5 days prior to the end of the financial year. Purchases of depreciable assets with a cost of less than $20,000 that a small business...

What’s ahead for 2024-25?

What’s ahead for 2024-25?

Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the...

The essential 30 June guide

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 your deductions.

Accessing money in your SMSF

Accessing money in your SMSF

The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of self-managed superannuation funds (SMSFs). In general, access to your super is only possible if: You retire and turn 60; or You turn 65...

Do your kids really want to take over your business?

Do your kids really want to take over your business?

Generational succession - handing your business across to your kids or family - sounds simple enough but, many families end up in a dispute right at the point when the parents, business, and children are most vulnerable. It’s important that generational succession is...

Should you be the ‘Bank of Mum and Dad’?

Should you be the ‘Bank of Mum and Dad’?

The great wealth transfer from the baby boomer generation has begun and home ownership is the catalyst. The average price of a home in NSW is $1,184,500, the highest in the country. Canberra is next at $948,500, followed by Victoria at $895,000, with the Northern...

For more news, check out the Bentleys National page.

sign up for bentleys aspire program

Bentleys Aspire Program

Where you want to be

The Aspire program aims to help CEOs, business owners and entrepreneurs reach the goals they aspire to achieve – both professionally and in their personal lives. Sign-up today to receive regular news, updates and special offers directly. Get where you want to be.

sign up for bentleys newsletter