company tax return

Business Purchase Tax Checklist

October 2011

In the process of buying a business, the purchaser should conduct a due diligence review to establish that they are buying what they believe they are buying. The review identifies areas of risk and contingent liabilities that the business may have and to factor these risks in the purchase price.When...

Issues with Family Trusts

October 2011

Family trusts can be a very tax effective way of managing wealth, and a useful part of an overall strategy for wealth accumulation and asset protection. What is a family trust? The term family trust refers to a discretionary trust set up to hold a family's assets or to conduct a family business. Generally,...

Budget 2011 – Small Business Tax Changes

May 2011

This article contains a summary of the key tax changes in the 2011 budget that impact on small businesses. As always, there are winners and losers. A small business for tax purposes is defined to have a turnover of less than $2 million GST exclusive. Immediate deduction for asset purchases Small business...

Australian Tax Return Basics

September 2010

The 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 2010

When 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...

Basic Guide to Tax Returns Australia

August 2010

Depending on the business structure you operate, you may be required to lodge different tax returns. Australian tax laws lay down specific rules and guidelines for reporting and computing amounts subject to various taxes which every business person must be familiar with or risk the assessment of penalties. Income...

Tax Returns

August 2010

We prepare all types of company tax returns, as well as individual tax returns.Our challenge with every tax return is to save tax.We prepare every tax return as if it were our own!

Home Based Businesses And Home Office Expenses

May 2009

If you carry out work at home, you may be able to claim a deduction for some of the expenses relating to the area that you use for business purposes. In all cases the taxpayer needs to:be able to prove that expense have been incurred and be able to establish a connection between the business and...

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