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Tax & Super Newsletter

September 2017

September 2017 Newsletter Small Business Immediate Asset Write-Off Small business entities can claim an immediate deduction for depreciating assets that cost less than $20,000, provided the asset is first acquired on or after 7.30pm, by legal time in the ACT, on 12 May 2015, and first used or installed...

Tax & Super Newsletter

August 2017

August 2017 Newsletter  TAKING MONEY FROM A PRIVATE COMPANY This article is a must-read for all private company shareholders. Specifically, it is aimed at individuals who operate their business through a company structure and from time-to-time take money from the company for personal use. Are you...

Tax & Super Newsletter

April 2017

WHY TAX PLAN? Tax planning is the process of organizing the affairs of a taxpayer so that, as far as legally or commercially possible, the liability of the taxpayer to income and other taxes is minimised. – (definition from the Australian Master Tax Guide)Some common strategies of reducing one’s...

Tax & Super Newsletter

March 2017

“DODGY” DEDUCTIONS More than 8 million Australians claim work-related expenses each year. ATO assistant Commissioner Graham Whyte is reminding taxpayers to ensure they get things right when lodging 2015/2016 returns over the coming months. In 2014/2015 alone, the ATO conducted over 450 000 reviews...

Tax & Super Newsletter

December 2016

How to Provide FBT Free Benefits to Staff This Christmas Christmas is fast approaching and it’s the time of the year that many businesses want to thank their staff for their service and how much they are appreciated. This article examines the tax implications of holding a Christmas party versus...

Superannuation Changes – A Summary

December 2016

23 November 2016 super reforms passed through parliament Objective of superannuationProvide income in retirement to substitute or supplement the Age Pension Intended to encourage people to save for retirement rather than an opportunity for tax minimisation.Transfer balance...

Equipment Purchases

November 2016

When you combine the current low interest rate environment with the Instant Asset Write-Off, there has rarely been a more favorable time for small businesses to invest in plant and equipment.The Small Business Instant Asset Write-Off allows small businesses (those with a turnover of less than $2...

GST, Low-value Imports and Website Blocking!

October 2016

Goods imported into Australia - often by consumers using the internet - which cost less than $1,000 are currently GST-free. On May 3 2016, as part of its package of Budget Night announcements, the Federal government proposed that, as of 1 July 2017, this low-value threshold ('LVT') of $1,000 will be...

Superannuation Changes Announced

September 2016

Since the Federal Budget on 3 May 2016, many superannuation strategies have carried a significant element of uncertainty.As you may have heard, the Government has announced some significant changes to the superannuation proposals previously announced on Budget night. It’s important to be aware...

Using a Family Trust in Your Business Structure

August 2016

Family trusts are among the most useful, flexible and often underutilised entities, especially in business structures. While many will consider holding investment assets in a trust, they overlook the fact that for an SME business owner the business is usually the family’s single most significant investment,...

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