News
Finalist in the Outstanding Employee category
At Forsyths, we’re passionate about recognising the incredible people who shape our culture and drive our success. This month, we’re thrilled to celebrate Diane (Di) McLeod who has been named a Finalist in the Outstanding Employee category at the Tamworth Business Chamber Quality Business Awards.
Disaster Recovery Assistance – What Support is Available?
With the recent weather events and flooding across the region, it’s important to keep updated with the recovery assistance and funding available through the NSW Rural Assistance Authority (RAA).
Interest deductions: risks and opportunities
This tax season, we’ve seen a surge in questions about whether interest on a loan can be claimed as a tax deduction. It’s a great question as the way interest expenses are treated can significantly affect your overall tax position. However, the rules aren’t always straightforward. Here’s what you need to know.
Luxury cars: the impact of the modified tax rules
With the purchasing of luxury vehicles on the rise it’s important to be aware of some specific features of the tax system that can impact on the real cost of purchase. Often the tax rules provide taxpayers with a worse tax outcome if the car will be used for business or other income producing purposes compared with a non-luxury car, but this depends on the situation.
Staying One Step Ahead: Cyber Security & Fraud Protection Seminar
In today’s fast-paced digital world, cybercrime and fraud are becoming some of the greatest threats to small and medium-sized
businesses and protecting your data, finances and reputation has never been more critical.
In July, Forsyths partnered with Cloudwize, Sophos and Westpac delivered an exclusive Cyber Security & Fraud Protection Seminar at our
Tamworth office.
Division 296 super tax and practical things to consider
Division 296 super tax is a controversial Federal Government proposal to impose an extra 15% tax on some superannuation earnings for individuals if their total superannuation balance (TSB) is over $3 million as at 30 June of the relevant income year.
Important tax update - deductions for ATO interest charges scrapped
If you're carrying an Australian Taxation Office (ATO) debt there is a good chance that it will cost you even more from 1 July 2025 onwards. This is because from 1 July 2025 two types of interest charges imposed by the ATO are no longer deductible.
Trust funds: are they still worth the effort?
For decades, trust structures have been a cornerstone of the Australian tax and financial system, prized for their asset protection and flexibility when it comes to income distributions. However, with regulatory changes and mounting administrative complexity the shine has been wearing off lately, prompting some businesses and investors to rethink their use.
Forsyths Foundation 2025 – Supporting Local Communities
We believe in making a difference where it matters most – in the communities where we live and work. Through the Forsyths Foundation, our team comes together each year to help fund and support organisations that change lives.
Celebrating Growth From Within
At Forsyths, we believe our people are our greatest strength. When one team member grows, we all succeed and we are proud to support every individual in realising their full potential. That’s why we’re delighted to share the latest career promotions across our business.
From Air Fryers to Swimwear - Tax Deductions to Avoid
With the 2025 tax season fast approaching the Australian Taxation Office (ATO) is reminding taxpayers to be careful when claiming work related expenses. This is in reaction to a spate of claims that didn’t quite pass the ‘pub test’.
ATO's New Requirements for NFPs
If you are involved with running a not for profit (NFP) organisation it is important to be aware of key obligations and requirements. In particular, if the NFP qualifies as a tax exempt entity there are some specific conditions that need to be satisfied and a relatively new ATO reporting obligation which needs to be undertaken to maintain that income tax exempt status.
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