Tax

Sweeping Changes to Foreign Resident Capital Gains Withholding Rules The Australian Taxation Office (ATO) has introduced significant changes to its Foreign Resident Capital Gains Withholding (FRCGW) regime, now requiring all Australian property sellers—not just foreign residents—to obtain a clearance certificate. Effective 1 January 2025, these updated regulations mean that anyone selling property in Australia must

Australia’s tax system is often praised for not having death duties, but that doesn’t mean intergenerational wealth transfer is tax-free. In fact, the Australian Taxation Office (ATO) has signaled that succession planning is a key focus area, meaning many taxpayers may be making costly mistakes when transferring assets. Failing to plan properly can result in

Salary sacrificing is a straightforward way to save on taxes today while boosting your superannuation for the future. By opting to have a portion of your salary paid directly into your super fund, you can reduce your taxable income and take advantage of the lower tax rate applied to super contributions. How Salary Sacrificing Works

Effective from 1 January 2025, the Australian Taxation Office (ATO) has made significant changes to the foreign resident capital gains withholding (FRCGW) regime, now requiring all Australian resident property sellers to obtain a clearance certificate, regardless of their property’s value. This update has critical implications for property owners, real estate agents, and brokers across the

Navigating tax time can be a complex task, especially for high-income professionals such as doctors, lawyers, and executives. With multiple income streams, investments, and potentially complex deductions, ensuring compliance while optimizing tax benefits is crucial. At Boa & Co. Chartered Accountants, we’ve put together six practical strategies to help you tackle tax time with confidence