Your business can claim website development and maintenance costs under various tax rules. As a business owner you probably know by now that you need a website; whether to display your credibility, ensure you are accessible, target a wider audience, showcase your work or transact with your customers. Since most consumers now search online before making a purchase decision, […]
There will in all likelihood come a time when you will need to wind up your self-managed superannuation fund (SMSF). It’s always a good idea to start by sitting down to read your trust deed, as it may contain vital information about winding up your fund. Remember, once a fund is wound up, it cannot be reactivated.
Many professional, business or trades people are members of an association, and during their working life subscribe to an appropriate organisation. In most cases the membership of a trade union for example, or professional association relevant to workers in a particular occupation, would qualify for a tax deduction under the general deduction provisions of the […]
Not all taxpayers may be aware of how the use of valuations can affect their annual tax bill. Are you aware of how valuations can affect your tax bill? Click To Tweet
Running a successful small business sometimes requires an up-skilled team. If you need your employees to grow their expertise in a particular area, spotting them for short-courses, seminars, one-day intensives, professional qualifications or a bunch of “101s” can be a worthwhile endeavour. A deduction is generally available for the costs of providing education to employees Click […]
Income tax “bracket creep” happens when an increase in income moves you from one tax bracket to the next, resulting in a higher tax rate, and therefore reducing the overall gain from your higher salary.
Are you a company director? Better brush up on your responsibilities! Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company.
Many property investors are making simple mistakes when claiming tax deductions for their rental property, which could be avoided with a little guidance. The following checklist provides examples of many of the common claimable and non-claimable rental property expenses. Check them off to see where you stand, and please contact us for more information specific to your situation.
There’s a saying that many sharemarket investors may have already heard: Don’t let the tax tail wag the investment dog. In other words, the best advice for your share portfolio is to base your decisions on investment merit, not on trying to save tax. Even so, there are taxation consequences for everyone with an investment […]
Do you know if you are a resident or non-resident for tax purposes? Do you understand the tax implications of working overseas? Thousands of Australians head offshore each year to expand their horizons. Some will fund their adventure by working overseas. Some will be living and working overseas for an extended period. But there can often be […]
