Claiming work trips for business owners Do you sometimes take work trips for your business – perhaps to overseas conferences or interstate clients? When a trip is clearly for business purposes only, the rules for deducting your expenses are fairly straightforward Category: News Read More
Non commercial losses, does it apply to you? Do you run a side business in addition to your main employment? This could be in primary production (ie a farm or winery), retail or any other profession, trade, vocation or calling, provided it is not in a role of an employee. Category: News Read More
Insurance in super the impact of proposed changes There are new rules on the way that will require young adults and members with low super balances to actively “opt in” to holding insurance in super. Category: News Read More
GST on imports - are you optimising your cashflow? 19.11.2019 Looking for opportunities to improve cashflow? If you import goods as part of your business, you don’t have to pay goods and services tax (GST) upfront if you’re registered for the ATO’s deferred GST scheme. Category: News Read More
Super “opt out” choice for high earners If you’re a high income-earner with multiple employers, you may be aware of potential traps with compulsory super contributions that can lead to some hefty and unfair penalty taxes. Category: News Read More
SMSFs ATO to check on investment strategy compliance 29.10.2019 Over 17,000 SMSFs that are heavily invested in one asset class will soon receive a “please explain” from the ATO to check whether they can justify their diversification risk. Category: News Read More
Economic Update September 2019 Your financial well-being and plans for the future can be impacted by various economic events, so below is a video to assist you to stay up to date with the latest indicators. Category: News Read More
Super and bankruptcy - can creditors access my benefits? Is your super safe if you become bankrupt? Not if it appears you’ve made super contributions to avoid paying your creditors. Talk to us about long-term asset protection. Category: News Read More
Using prior tax losses after a change in control - ATO guidance Planning a share sale or equity capital raising? If your company’s going through a major change in control, the test to access your prior losses has now got easier. Category: News Read More
Capital gains tax and death - it’s not the end of the world Think you might inherit a property? And then sell it? Capital gains tax may kick in. Or not. Depends on whether it was "acquired" pre-CGT, plus a stack of other tests. It’s a minefield. We can help. Category: News Read More