Grab a coffee and your notebook and settle in for some expert advice on effective tax structures – especially if you are a sole trader looking to expand…
For established and growing small business you are likely to outgrow a sole proprietor business/tax structure and be looking at a more sophisticated structure that can be established […]
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 […]
In early September the Turnbull government released the first tranche of Exposure Draft legislation for superannuation reforms announced in the 2016-17 Budget. There has been a federal election in between, but the Turnbull government has finally released draft legislation of five superannuation reforms that were first mooted in the May budget.
What do the Superannuation Reforms mean […]
The requirements for SMSF property valuations can be confusing. This is partly because there are no hard and fast rules. The ATO has produced guidelines but these are open to some interpretation. Factors to consider include the domain expertise of the Trustee, and the expectations of the ATO and Fund Auditor.
Why Assets Need to be […]
Having a better financial destiny is an age-old fight with discipline, but a tax refund is a chance to take some steps in the right direction. Follow these 5 tips to build wealth fast.
1. Put it into super
Remember the 70 year old you gets better tax treatment. Unless you are already contributing the maximum to […]
We will work through every allowable tax deduction available for you and /or your business. Don’t forget to ask us what tax incentives are available to you which may work to increase your tax deductions.
Bringing the right documents to your appointment saves time for you and for us and lessens the chance of the need for […]