Updated for the 2025–26 financial year If you want to know which businesses are in demand in Australia right now, the clearest signal comes from IBISWorld’s projections of the fastest growing industries for 2026. Tree Nut Growing leads the pack with projected growth of 29.7 per cent, followed by Gold and Other Non-Ferrous Metal Processing […]
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Updated for the 2025–26 financial year An SMSF is generally prohibited from both borrowing and lending money, with only limited exceptions. It cannot lend money or provide financial assistance to a member or a member’s relative under any circumstances. It can borrow only in narrow situations, the most common being a limited recourse borrowing arrangement
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Updated for the 2025–26 financial year If you provide professional services in Australia, you must charge GST once your business is registered for GST. You are required to register when your GST turnover reaches $75,000 or more (or $150,000 or more for a non-profit organisation). GST is a flat 10% added to most goods and
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Updated for the 2025–26 financial year If you are an Australian resident for tax purposes, you are taxed on your worldwide income. That means income from foreign shares, overseas rental properties, foreign bank accounts and most foreign pensions must be declared in your Australian tax return, even if the money never leaves the country it
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Updated for the 2025–26 financial year If your business is registered for GST, you can claim a GST credit, also known as an input tax credit, of one-eleventh of the GST-inclusive price on capital purchases you use in your business. This applies to machinery, equipment, office furniture, computers and other big-ticket assets, provided you hold
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Updated for the 2025–26 financial year Here is the short answer. International flights to or from Australia are GST free, so there is no GST included in the fare and nothing to claim back. Domestic flights generally carry GST at the standard Australian rate of 10%, although a domestic leg can be GST free when
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Updated for the 2025–26 financial year Short term commercial accommodation is generally subject to GST at the standard 10% rate, and the GST included in a price is one-eleventh of the amount charged. Some tourism supplies can be GST free, particularly when they are supplied to non-residents or used outside Australia, and long term stays
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Updated for the 2025–26 financial year Most core education courses are GST free under Division 38 of the GST Act. This includes pre school, primary, secondary, tertiary, vocational and a defined list of other course types. GST, which is a broad based tax of 10 percent on most goods and services, applies to courses and
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Updated for the 2025–26 financial year Registering for GST directly through the ATO is free, and you are only required to register once your GST turnover reaches $75,000 ($150,000 for non-profit organisations), within 21 days of reaching that point. If your turnover is below the threshold, registration is optional. You may still choose to register
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Updated for the 2025–26 financial year Stamp duty on the purchase of an investment property is a capital cost. It is not immediately deductible, but it does form part of the property’s cost base for capital gains tax purposes, which reduces the capital gain you are taxed on when you eventually sell. Beyond that, owning
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