Inside this months’ small business tax update: What's changing on 1 July 2021, work from home expenses under scrutiny and the perils of browsing facebook, and how insurance proceeds are taxed.

In recent times, there have been many references to data being the 'new oil' that will drive economies as the most valuable resource in the world, including this headline that was published in The Economist back in 2017, “The world’s most valuable resource is no longer oil, but data.”

All revenue is equal, but some is more equal than others. The famous author George Orwell wrote this famous line in his novel Animal Farm - whilst he was better known for political and social commentary, his legacy has left businesses with a valuable business lesson.

May 2021 Small Business Tax Update: New lifetime director ID’s; The top 8 reasons why staff leave; Tax exemption for ‘granny flat’ arrangements; Your SMSF - when expenses and investments are not at arm’s length.

May 2021 Small Business Tax Update: New lifetime director ID’s; The top 8 reasons why staff leave; Tax exemption for ‘granny flat’ arrangements; Your SMSF - when expenses and investments are not at arm’s length.

April 2021 Tax Update: Superannuation changes; ATO targets profits of professional services firms; Tax treatment of JobKeeper payments handed back to the ATO; JobMaker fails to boost employment; National license recognition for tradies. Read our latest updates here.