Tax law contains penalty taxes if you put more than a set limit into your superannuation. And one of those exceptions to the excess non-concessional contributions tax triggering is if you make a downsizer super contribution. Using the DownSizer Super Contribution tax exemption effectively and strategically will allow somebody to increase their SMSF balance. With… Continue reading Using the Tax System Downsizer Super Contribution to Maximise Your Super Fund
Human resources is a deep and complex area. It ranges from engaging team culture to HR compliance with a range of Fairwork, tax, super and compliance obligations. And while the use of cloud accounting programs like Xero payroll, together with add-on programs like EmploymentHero and KeyPay are spectacular we still see a range of common… Continue reading 5 HR Rules that Might Surprise You
As crypto currency like BitCoin and Ethereum become mainstream many clients are looking to invest into crypto currency in their SMSF. And managing the tax obligations of investing into crypto currency in your SMSF is incredibly important before you begin. This will typically happen once your grapple the concept of what is a self-managed super… Continue reading How to Manage Crypto and the ATO Inside Your SMSF
Structuring your tax affairs to help your children buy a house is a common objective for many founders of family owned businesses. And engaging with your Perth tax accountants to help you structure your tax affairs can create successful outcomes including using your super fund to help your kids buy their first home. Of course, using… Continue reading How to Use Your Super Fund to Help Your Kids Buy a House
The R&D Tax Incentive is a significant boost for small to medium sized business with a turnover of under $20m. However, the mechanics of understanding “how does the R&D Tax Incentive work for small business” can be a difficult concept to grasp. Is the R&D Tax Incentive a grant? The R&D Tax Incentive is not… Continue reading How does the R&D Tax Incentive Work for Small Businesses?
If you are considering any investments or business dealings offshore: then international tax services becomes top-of-mind. The interplay of taxation and tax administrations across countries can create tax opportunities for the smart tax accountants and tax headaches for those with poorly structured tax advice. So when engaging with your Perth tax accountant, the most fundamental… Continue reading Am I a Tax Resident for Australian ATO Purposes?
At Westcourt we understand that trade and services business are time poor. This include businesses like plumbers, electrical contractors, locksmiths, cleaners and gardeners. In effect any business that runs and operates jobs with staff in the field. And as a ServiceM8 expert we can use ServiceM8 to simplify and streamline the job of quoting, invoicing,… Continue reading How to Use ServiceM8 for Tradies and Services
Every start-up business owner will inevitably ask themselves “How do I make a payment arrangement with the Tax Office”?” And while such a question is a natural, often logical, step for the founder of a family business there is a few steps to consider before you start to talk to your Perth tax accountant about… Continue reading How Do I Make a Payment Arrangement with the Tax Office?
Payroll tax for many family-owned businesses in Perth is often a forgotten sleeper. Too often many tax accountants and business owners are so fixated on the cost of income tax that the payroll tax cost in a business is forgotten. However the question of how is payroll tax calculated in WA is important to ensure… Continue reading How is Payroll Tax Calculated in WA ?
The family farm is commonly the largest single asset for a farming family. And the succession of the family farm is an important and significant step in operating and maintaining the farming business. In Western Australia the family farm stamp duty exemption allows for the farm to be passed onto the next generation within a… Continue reading Using the Family Farm Stamp Duty Exemption for Farm Succession
