Don’t let a tax debt put you in a spin. Whether you’re running a business or are just an individual trying to make ends meet, there is nothing worse than finding yourself in a situation where you have a tax debt owing to the ATO, which most likely will also be accruing a general interest charge and perhaps even a shortfall interest charge.
Travel to a workplace: what’s in, what’s out. A recurrent topic of conversation is when taxpayers can claim deductions for travel to a work location, and the eligibility or otherwise of certain claims in regard to that travel.
Lodgment rates & thresholds guide 2016-17 To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place.
$20,000 write off is only available for small business, unless..... There is an under-used gem hidden within the small business simplified depreciation rules that in some circumstances can widen the opportunity to access this valuable deduction.
Gumboots? check. Akubra? check. Tax status?....... Hobby farming is a lifestyle choice that has been around for years and looks like an option that, if anything, is on the increase.
Maximise your claim: Overlooked property deductions for investors. Many investment property owners may be missing out on valuable property depreciation entitlements, simply by not being up-to-speed on what is and is not depreciable.
Last-minute tax planning for individuals. The current financial year is almost at an end, but there are still strategies you may be able to put into play to ensure you pay not one cent more tax than is necessary for your 2015-16 income year.
SMSF Advice – removal of the accountants. You may be aware of the changes taking place in the accounting industry in relation to the provision of Self-Managed Superannuation Fund (SMSF) and superannuation advice in future.