Prime Minister Malcolm Turnbull and the Treasurer Scott Morrison are still trying to sell their plan to cut the company tax rate to 25% by 2026-27. The current rate is 30% and has been since 2001.
The tax cut was introduced in the 2016 federal budget. The government indicated small to medium businesses turning over less […]
Tip 1: make sure your claims are justified
A dairy farm employee claimed deductions totalling almost $19,000 including expenses for travel, tractor hire, tools and safety gear, internet and phone. When the ATO spoke to his employer, they said the employee’s duties involved milking cows and changing irrigation. He was provided free rent in a house […]
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Tax on contributions
The amount of tax you pay on contributions into your super depends on how much you contribute and when you contribute it.
Your Tax File Number – the key to […]
Here are our Top Claimable Work Related Expenses! Note – every individual circumstance is different. Please contact us for advice! Call 07 3245 1466 or email [email protected] to make an appointment with your friendly local accountants at TBC.
Travel Expenses
You may be able to claim a deduction for work-related car expenses if you use your own […]
Small employers (19 or fewer employees) must meet the Superstream standard by 30th June 2016.
If the only contributions you make are personal contributions for yourself or contributions to a related self-managed super fund (SMSF), you don’t need to use Superstream.
Choose an Option
To use SuperStream, you need to pay super and send employee information electronically. If […]
The Tax Office has found that there are some landlords who may not be entirely sure about whether they are correctly claiming their property rental deductions. In particular, it has found that many property investors are making simple mistakes that could be avoided with little guidance.
There are some expenses that you will need to you […]
The ATO has advised that it is continuing its ongoing “Real property transactions 1985-2017 data matching program protocol”
It is undertaking this program to basically ensure that taxpayers are correctly meeting taxation obligations in relation to their dealings with real property, i.e., CGT on property sales and income tax on rental income.
For the period 20 September […]
Have you taken advantage of the Governments $20,000 asset write – off for small business?
If your answer is No- then you need to speak to us find out how the Government initiative can benefit your business.
If you are an incorporated or non-incorporated small business you are able to take advantage of this offer- the only […]