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ATO warns of DPNs
It has come to our attention that the ATO is warning tens of thousands of directors to take action on company tax debts or face the risk...
Magdalene Chong
Jun 7, 20222 min read
Can I claim a tax deduction for my gym membership?
There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym...
Magdalene Chong
Jun 6, 20223 min read
The 120% deduction for skills training and technology costs
It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will...
Magdalene Chong
May 31, 20223 min read
The Importance of Trust Account Audit
Trust account is a special type of bank account. It is where money is held by the agent, including any staff of the agency's, on behalf...
Magdalene Chong
Apr 1, 20221 min read
Ways to Identify & Prevent Trust Account Theft
It is very crucial act to protect your agency’s trust account from fraud, as clients’ have put their trust in your agency to hold their...
Magdalene Chong
Jan 14, 20223 min read
SMSF COVID-19 Audit Relief Extended
The COVID-19 relief for SMSF trustees has been extended by the ATO. The relief measures, which protect trustees from COVID-19 related...
Magdalene Chong
Nov 29, 20211 min read
How to deal with Unclaimed Money in your Trust Account?
Have you ever been troubled by unknown funds that have been staying in your trust account for a long period of time and do not know how...
Magdalene Chong
Nov 15, 20212 min read
Trust Account Theft VIC
After being convicted of trust account violations, a former real estate agent received a two-year Community Corrections Order and must do...
Magdalene Chong
Nov 3, 20211 min read
Recruiting new employees? The 1 November superannuation rule changes
When a new employee joins your company, the Choice of Fund form is used to choose where they want their superannuation to go. If an...
Magdalene Chong
Oct 27, 20211 min read


Understanding Your Trust Account
What comes to mind when you consider your trust account? Is your blood pressure rising as you tremble in your shoes? If that's the case,...
Magdalene Chong
Oct 18, 20213 min read
Are COVID-19 Grants and Funding Tax Free?
The majority of people believe that money granted by the government to help people and businesses during a crisis is tax-free. Otherwise,...
Magdalene Chong
Oct 13, 20212 min read


Unwinding COVID-19 Relief
COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19,...
Magdalene Chong
Oct 6, 20216 min read
Reconfirm JobSaver Eligibility
Here is a reminder to reconfirm eligibility for your next JobSaver payment for 13-26 September. The process is easy and only takes a...
Magdalene Chong
Oct 4, 20211 min read


Trust Account Audit Requirements for Estate Agents and Conveyancers during COVID 19
Consumer Affairs Victoria is offering extensions of time to help licensed real estate agents and conveyancers affected by COVIDSafe...
Gabriel Wee
Aug 10, 20212 min read


Trust Account Audit Lodgement Deadlines NSW
The audits for the year ending 30 June 2021 need to be lodged with Fair Trading by 31 December 2021. This is an extension on the normal...
Gabriel Wee
Aug 10, 20211 min read
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