By Nina Hendy Emily Duffell has no hesitation in claiming children’s pillows, doona covers and pyjamas on her tax. Decorative wall hangings, bedding and night lights will also be claimed by the mother of two. The Melburne sleep consultant uses the items in promotional videos for her business, Sleepy Starz. “We can’t always use our children’s […]
By Steve Burnham If you’ve lost your tax file number (TFN) there are a few options for you to try to get it back. Your first avenue of inquiry, if you use the services of a tax agent or accountant, will be to ask them for your tax file number as you will have previously […]
By Rod Myer With the end of the financial year approaching fast, there are some important things you need to do to ensure you get the best out of your superannuation by June 30. The super system has recently undergone some of the biggest changes in a decade, with many to come into effect in the […]
By Max Newman When the small business capital gains tax concessions were introduced eligibility was dependent upon the owners having net assets of under $5 million. When the small business entity tax concessions were introduced eligibility for the CGT concessions were changed. The first criteria for eligibility was the business needed to be classed as a […]
By: Max Newnham Many small businesses are family affairs. They often start off as a simple partnership between a husband and wife and can grow into being operated through a discretionary family trust. Since the tax laws were tightened family trusts can effectively only distribute $416 tax-free to children under 18. As long as the i’s […]
By Max Newnham There is often a misconception that when someone starts a business they can deduct a lot more expenses than when they were an employee. Nothing could be further from the truth. For any amount to be deductible there must be a link between the expense and the income earned. There are however some […]
By: Max Newnham How a person receives income from a business depends on how they own the business. When a business is owned as a sole trader they receive the income in the form of net business profits. Because a person cannot employ themselves they cannot receive a wage from their own business. When a business […]
By SUNCORP Hundreds of thousands of Australian small businesses will have a little more cash left in the kitty next June after corporate tax cuts were confirmed in the recent federal budget. Treasurer Scott Morrison used his second budget to restate the Turnbull Government’s strong commitment to reducing the tax burden on small businesses. Other positive […]
By Alexandra Cain You can claim your website under the $20,000 instant asset write-off scheme There’s a huge amount of misunderstanding around the federal government’s instant asset write-off for small business expenses valued at $20,000 or less. According to research by Officeworks and H&R Block published on Wednesday, 78 per cent of small business owners don’t […]
Lease incentives are commonly used by landlords to entice tenants to enter into a lease. The most common type of lease incentive relates to new tenancies in commercial buildings. These inducements can take many forms, including upfront cash payments, non-cash items such as motor vehicles or boats, expensive paintings, holiday packages, rent-free or rent-discounted […]
