Blogs
IS YOUR COMPANY CHRISTMAS PARTY SUSCEPTIBLE TO FBT?
Good News… The Silly Season is on it’s way… Every year the topic of tax and the annual work Christmas party comes up. Everyone wants to celebrate the year without worrying about tax, but unfortunately there is some tax matter’s to consider when it comes to the…
Best Business Apps for Entrepreneurs (v2.0)
It seems like there is a new list of best business apps (particularly for Entrepreneurs) every week, this is partly because entrepreneurs love apps but also because they also love new things! So let’s check out some apps that are all the buzz in the entrepreneurs…
Tax Scams Update: Stay Smart Online and Offline
If you are contacted by the ATO you should speak to your accountant to find out the validity of the call’s nature. Contact your accountant on (03) 9603 0066. There has been a steady rise in these types of scam calls and it can be difficult to tell if the call is valid…
Family trusts and the lower company tax rate
If you run a “bucket company” as a beneficiary of a family trust you will be interested to hear that a new Bill has been introduced in Parliament that will exclude companies that fail a “passive income test” from the lower corporate tax rate of 27.5 per cent. The…
Taking tax for a ride
The ATO recently released figures on the gap estimates for a number of taxes, including goods and services tax (GST). For GST, the 2015–2016 trends showed a slight increase in the theoretical GST liability estimate. And while compliance levels are quite stable, there…
REMOVAL OF MAIN RESIDENCE EXEMPTION FOR NON-RESIDENTS
The Government announced in the 2017/2018 Budget that they will be removing the main residence exemption for Capital Gains Tax purposes for non-residents of Australia. The main residence exemption is when a property has been used as the owner’s main residence…
Travel deductions to and from rental premises no longer allowed
If you own residential premises that you rent out, you should be aware that you may no longer be able to claim travel deductions connected with trips you make to and from those premises. Travel expenditure incurred on or after 1 July 2017 in connection with…
Top 10 rules for the CGT replacement asset rollover
When you suffer the loss or destruction of assets through natural disasters or through compulsory acquisition, you most likely will be in a position to receive money or another asset (or both) as compensation. You are also left with a choice to either defer any…
Pay your way: tax and the sharing economy
The desire to pay less for goods and services coupled with the convenience of being able to conduct such transactions online or via apps, has lead large numbers of people to use the “sharing economy”. Demand for greater flexibility in employment and the way we access…
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