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Low income earners super tax offset: Conditional on Minerals Tax. A Bill is before Parliament which will effectively offset superannuation tax for super guarantee contributions for people earning up to $37,000.…
Tax Insight. Tax Accounting. Tax Returns. Activity Statements. Superannuation Tax & Regulation. Tax Planning. Business Structuring. Trust Structuring. Company Structuring. Tax Audit. Tax Dispute. International Tax. Profit Plans. Revenue Growth Plans.…
Save Tax: Selling assets tax free. If you have assets or investments in your self managed super fund and you move it into pension phase and then sell the assets, there is no CGT or other income tax on the sale of the assets! Keywords: Next Article.…
Save Tax: Family Wages. Does your business employ family members? If so, ensure that their wage entitlements are paid up to date before the end of the financial year. The Tax Office does not look kindly on journal entries for unpaid wage entitlements.…
The Tax Office has released a determination announcing the benchmark interest rate for Division 7A loans to be 7.8% for the 2012 financial year. TD 2011/20, NTAA Voice 206, p17. Keywords: Next Article.…
Save Tax: Borrowing Expenses. Legal costs, stamp duty, mortgage preparation and valuation fees, broker's charges, etc are deductible if business related and should be pro rated over the period of the loan, up to a maximum of five years.…
Save Tax: Meals and refreshments. You can claim a deduction for the cost of tea, coffee and light lunches provided to employees on the work premises during working hours. These are exempt from FBT. Keywords: Next Article.…
Save Tax: Apportioning interest claims. Interest on monies borrowed to purchase an asset mused for both business and private purposes must be apportioned on a reasonable basis, eg. kilometres driven, floor space, etc.…
Australian Tax Changes 2022-2023. Recent changes are outlined below: Keywords: Australian Tax Changes 2023. Next Article. Disclaimer: We believe this information to be correct at the time of publication.…
Tax Insight: Your private bank account data transferred overseas by the Government. What? Keywords: Next Article. Disclaimer: We believe this information to be correct at the time of publication.…