Why Every Company Director Now Needs a Director ID (DIN)

If you’re a director of an Australian company—or you plan to be—please read on. All existing directors (and intending directors) of Australian companies should be aware that the Australian Government has announced the introduction of a new mandatory Director Identification Number (DIN) system. (You’ll notice the term director ID is also used for DIN.) This system is the initial step in the Modernising Business Registry (MBR) Program which has been…  Read more

Is Your Family Home At Risk?

If you are a business owner, there are plenty of things you need to manage, and two of the most important of these are assets and risks. In other words, building your wealth and protecting your wealth. There’s no point building a lot of wealth if the way you have things structured behind the scenes means that someone could take your assets away from you. Unfortunately, many business owners are…  Read more

What home office expenses am I allowed to claim now I’m working from home?

If you work part of all of your job from home, you may be able to claim a deduction for the costs incurred in running your home office in your next Tax Return. Even if the room is not set aside solely for work-related purposes.  Since the outbreak of Coronavirus in Australia, the Australian Tax Office (ATO), has announced unique rules to make it easier for people to claim deductions…  Read more