Thorntons Biz is our regular newsletter, filled with up to date news and relevant advice for individuals and businesses.


May 2020

The dominating factor in all our lives at the moment is of course COVID-19. We look at issues that may change the normal deductions taxpayers can make for working from home, plus examine details of the new JobKeeper scheme that both employers and employees will need to know.

There is also the early release from superannuation option that may help many people get through this difficult period, and the temporary changes to the instant asset write-off rules, as well as accelerated depreciation, that are available now.

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April 2020

A legislative package has been pushed through parliament which contains a number of bills that implement the government’s economic response to the spread of the Coronavirus.

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March 2020

If you own certain high-end assets, it may be prudent to make sure your tax affairs are in order. The ATO has asked dozens of insurance companies for policy details over certain asset values to check up on these taxpayers’ tax obligations. In this issue of Thorntons Biz we also look at the realities of accessing some of your retirement savings early, and examine the sorts of expenses you can claim when an investment property is damaged or destroyed.

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February 2020

With the recent bushfires in Australia, volunteers have never been more pertinent.  In this issue of Thorntons Biz we look at the definition of a volunteer and the various tax issues associated.  We also look at the First Home Super Saver scheme and succession planning for family businesses.

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December 2019

In this issue of Thorntons Biz we look at the how the “personal property security register” can help manage the risk that comes with owning certain assets. We also take a closer look at the CGT concessions many small business owners miss out on as they are unaware they are eligible to claim them.

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November 2019

In this issue of Thorntons Biz we discuss what you can claim for this years Christmas party, what to do if your records are lost or damaged and investment strategies for your SMSF and more.

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October 2019

In October’s issue we run through the facts about work expense deductions, SMSF reporting and different CGT and FBT scenarios.

You can put your mind at ease knowing you are up to date with the latest in tax news and updates with Thorntons Biz.

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September 2019

September’s newsletter is jam packed with all you need to know to get your ducks in a row.

Find out about how the ATO examines property development, what SMSF operating expenses you can deduct and 10 top tips for rental owners, plus more.

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August 2019

August’s issue of Thorntons Biz discusses the taxation implications of a trip or move overseas.

We go through what you need to know about trust resolution distributions, the important differences between a hobby and a business, and the small business income tax offset.

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July 2019

Is your business structure working for you? We go through the pros and cons of your options.

In our first newsletter of the 2019-20 financial year we also discuss penalty interest and when this can be deductible, carrying forward concessional super contributions and SMSF audits.


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June 2019

June is the perfect time to discuss which work related expenses you can claim including car parking expenses.

In this issue of Thornton’s Biz we examine trust compliance rules, which industries are required by the ATO to lodge a taxable payment annual report (TPAR), and trust tax compliance rules.

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May 2019

We look at the alternatives to tax invoices for GST credit claims and how the ATO’s public rulings can help you and your business.

Director duties, superannuation downsizing and the black economy are also discussed in May’s issue of Thorntons Biz.

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April 2019

With tax time approaching now is a good time to start thinking about what claims you can make.

In April’s newsletter we look at working from home, dividend and  investment income, donations, staff training cost claims and more.

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Federal Budget 2019-20

Find out how the 2019-20 budget will affect you in this special edition of Thorntons Biz.

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March 2019

In this month’s newsletter we discuss an array of new ATO compliance rules from rental travel expenses and property valuations to GST and online purchases.

We review the same business test and PAYG deductions so you’ll be kept up to date with all in the latest in Tax and Super.

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February 2019

Thinking of investing in a start-up business?

In our first newsletter of 2019 we discuss the tax incentives available for all levels of investors.

As the FBT year end approaches, check out our guide to making motor vehicle and travel expense claims  and find out what the ATO are reviewing in SMSFs.


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December 2018

Do you need an agreement with your business partner? We look at formal agreements and what you need to know to keep your business on the right track.

To find out more about this as well as taxpayer alerts and the tax implications of  being compensated from your bank, check out the December issue of Thorntons Biz.


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November 2018

It’s nowhere near the end of the FBT year, but a third quarter check-up can give you the opportunity to clear up any compliance issues.

Also how much do you need to retire? We look at the latest estimates. To find out more check out the November issue of Thorntons Biz.

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October 2018

Crowdfunding is a relatively modern phenomenon, helped in no small part by the growth of the online world. But with revenue, of any sort, tax is generally something that has to be considered.

To find out more about this, tax amendments and other issues check out the October issue of Thorntons Biz.

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September 2018

The September newsletter looks at a recent change to the rules around superannuation means that more Australians may be eligible to claim a tax deduction for putting money into super.

Most self-employed people can claim a deduction for after-tax contributions they make until they are 75 years old.

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August 2018

The August newsletter looks into the potential tax breaks for Self Education expenses, and what to do when SMSF trustees don’t agree which direction to take in the journey to greater wealth.

We also touch upon catching up on GST credits that have slipped through the cracks, and the exclusion clause the ATO has up its sleeve to deny a claim for a business loss.


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July 2018

Not every retiree has heard of the government’s Pension Loan Scheme, but it’s about time more people did. And with Tax Time now upon us, we run over some tips for your tax return.

Also Division 7A loans are given the once over, as are the possible deductions available for insurance premiums.

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June 2018

Tax disputes with the ATO may seem impossible but this is not always the case, in June Thorntons Biz we look at the best approach to better your outcome.

Also covered are the building and construction Taxable payments annual report, which is soon to be expanded to more industries, and a brush-up on statute barred debts.

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May 2018

The May issue of Thorntons Biz deals with tax and franchising, the basics of testamentary trusts, and have a quick quiz (with answers) on business deductions.

We also look at the “work test” required for super contributions to be made for those over the age of 65.

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Federal Budget 2018-19

Check out our latest Thorntons Biz to learn the facts about how the 2018-19 Federal Budget will affect you.

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April 2018

The April issue of Thorntons Biz covers the ins and outs of Cryptocurrencies and the Sharing Economy.

We also run over the many rules and requirements when making commutation requests for your retirement income.

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March 2018

In the March issue of Thorntons Biz we look at the FBT rules that business owners should keep an eye on. Where a third party supplier is generous enough to include your employees, there’s a very real possibility that this could trigger a tax liability for that business.

We also look at the need for valuations for SMSF assets, the looming Single Touch Payroll requirements, as well as when or if a business can use simplified trading stock rules.

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February 2018

In the February issue of Thorntons Biz we look into the bittersweet issue of bad debts – yes you’ve missed out on revenue, but at least there’s some tax relief.

Also property investors have recently lost eligibility to certain deductions, so we run over what’s changed.

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December 2017

In the December issue of Thorntons Biz we look the top 10 tax mistakes that rental property owners can make, pick apart where car expenses stand in relation to novated leases, and clarify when (and where) the concept of “entertainment” sits with regard to the deductibility of certain events to a business.
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November 2017

As it’s getting ever closer to the festive end of the year, we thought it prudent to run over the rules regarding Christmas parties and FBT.

Borrowing money from a private company, even if it is your own business, can have serious pitfalls if not carried out correctly, so the November Thorntons Biz issue looks at the dangers of “Division 7A”

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October 2017

Are you looking to downsize or buy your first home? The latest Superannuation changes could be to your advantage.

We also look at immediate deductions for start-up businesses, and go over the car parking FBT exemptions for small business.

To find out about these topics and more check out the October issue of Thorntons Biz

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September 2017

Do you know about the generous CGT concessions that are available to small businesses?

Also the transfer balance cap rules for SMSF’s have changed again.

To find out more about these topics check out the September issue of Thorntons Biz

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August 2017

Making claims for travel allowances is a handy deduction for many employees, but how do you substantiate these claims?

Did you know that there are deductions that are specific to Self Managed Super Fund’s?

To find out more about these topics check out the August issue of Thorntons Biz

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July 2017

In the July issue of Thorntons Biz we look at how the ATO is paying close attention to deductions; namely travelling expenses and holiday homes.
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Speak to us today

For any information about the topics cover in our newsletter contact Thorntons and we can answer your questions