Clients often ask, “Why do I need a trust?” This question comes up when people want to make lifetime gifts to their children in the future, and even more frequently when it comes to the potential tax consequences which can arise where they are misused. A trust can provide some protection from creditors and can […]
Make Trusts Part of Your Future Planning Read More »
Individuals who have been utilized in conventional work settings are thinking that it’s essential to enhance or supplant their revenue sources. While some intentionally exit their positions, others might be the result of cutting back and cutbacks. In any case, numerous who hold energy for their calling discover options, for example, redistributing, to get
Tips for Freelance Tax Preparation Read More »
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
Can Business Loans Be Written Off? Read More »
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
7 steps to set up a company in Australia Read More »
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
3 Types of Dividends for Company Shareholders Read More »