assessable income
Australian Tax Return Basics
September 2010The Australian tax return that you need to lodge yearly depends on the structure of your business whether you operate it as a sole trader, a partnership, a company or a trust.Sole traderA sole trader structure is essentially the same as the individual who owns it; thus, your personal assets may be...
Allowed Deductions in Your Company Tax Return
September 2010When operating your business as a company, it is your duty to lodge an annual company tax return showing your taxable income and the amount of tax due on that income.Limitations of deductionsTaxable income is computed by deducting certain expenses (also referred to as allowed deductions) from your...
