Running a business is not easy since the more you earn an income, the more expenses you incur most, especially when paying taxes. However, some universal rules help the business to claim a tax deduction on various costs that the company incurs in the long run. Some may be easy to detect while others …
Five Small Business Tax Deductions When Claim Tax Read More »
Acquiring a loan to finance or rather boost business is quite common among different business owners. However, one needs to be cautious when taking the loan and the kind of loan you take since the financial flow in a company is also affected by taxation. This brings us to the question whether all the …
There have been some recent changes to the tax rules when it comes to employee share schemes. There has been an attempt to make them more appealing for employer and employee participation. The changes to the ESS were significant as of 1 July 2015. They allow for a more extended tax deferment. There …
Understanding the ESS changes. Five things you need to know. Read More »
Are you a property investor? Are you a trustee of SMSF? Then you should read this article carefully. Aside from the lower tax rates which apply within a self-managed superannuation fund, the trustees of SMSF can also take advantage of the valuable stamp duty concession provided by Revenue NSW. Buying commercial real property …
Setting up a company may be the first step people think of when coming across starting up a business. Although that is not always the case, there are other structures also available for running a business like mentioned in our previous post “comparison-on-business-structures-in-Australia”. Thus a company is still the most common form that people …
The vast majority of property investors pay Capital Gains Tax (CGT) on a rental property when they sell, or dispose, of it. So it’s important to understand what is CGT and how it is calculated. In this post, we will find out: WHAT IS THE CAPITAL GAINS TAX? HOW MUCH IS IS THE CAPITAL GAINS …
What to know about Capital Gains Tax (CGT) and How to Calculate It. Read More »
With an increased number of employees working from home due to the Covid-19 pandemic, home office expense claims have become more common deduction items for the 2020 tax year. Anyone who has worked from home, they may be able to claim a tax deduction for expenses they necessarily incur related to performing their work duties. …
What’s New for 2020FY Home Office Tax Claims due to COVID-19 Read More »
Do you know there are 3 Types of Dividends for company shareholders? If you have read our previous post “Comparison on Business Structures” you will find that company is the only structure that can distribute after taxed retain profits to its shareholders. This is so-called Dividends. What are the dividends? When companies make a …
Deciding on getting into property investment through the self-managed super fund or SMSF is something worth considering. If you take into consideration the volatility of the stock market, low-interest rates, and tax concessions, it makes a lot of sense. So what do you need to know? Here are 5 Common Mistakes when considering property investment through …
5 Mistakes on Self-Manged Super (SMSF) Property Investment Read More »
Generally, you can start withdrawing from your superannuation fund after you’ve reached your preservation age and you’re retired, but there are instances when you may be able to access super early. Your super is designed to help fund your retirement, so generally, it’s only possible to withdraw your super once you’ve reached a ‘preservation …