Main residence exemption

The really important thing that’s happening now, is that if you’re a foreign tax resident of Australia, the main residence exemption on the side of your house is being taken away.

Tax Audit: When is the best time to get ready?

Nobody wants a tax audit. It’s always a little bit disconcerting when they come around. When should you get ready for a tax audit?

Claiming tax on business conferences

A lot of people think of a conference as a bit of a business junket, but from a tax point of view, there’s a fine line between what is a conference and what is a bit of a trip with your mates?

Getting tax deductions on travel expenses

One of the biggest concepts in tax law is that you’ve got to have receipts to prove your expenses that you incur. When you’re traveling, that’s really hard because you’re getting out of the taxi, you need a receipt, you’re buying some food at the bar, some chips for dinner.

Claiming Tax on Staff Christmas Gifts

Coming up to Christmas and a lot of people want to give their staff and their team a little reward as a thank you for doing a good job and if you give your staff a bonus as a cash bonus, they’re going to pay tax on it, which is not such a great idea.

Common sense in accounting

The election on Saturday was an incredible response: one that was not anticipated by our practice. It is important to look back on why this was potentially important.  It was important because the opposition government had anticipated a range of significant tax changes that would have made an incredible change to the tax and business… Continue reading Common sense in accounting

Snapshot of the WA State Government stimulus package COVID-19

The WA State Government has released their own $607 million stimulus package in response to Covid-19. This includes payroll relief for small to medium businesses as well as a freeze on household rate increases. Check out our info graphic below for more information. Please contact us if you need advice or help.

Death Taxes and how they affect you

We’ve actually been 40 years since Australia got rid of our death taxes, but a lot of us think that’s the end of it and unfortunately that’s not the case. We still have death taxes contained within our superannuation system.

Why do family businesses fail?

The reasons for a failed business can come through thick and fast. In a world faced with technology change, high taxes, high employment costs and digital automation the reasons for a failed business are literally endless. So what is the major reason a family business fails? In our experience it is the family. The ability… Continue reading Why do family businesses fail?

The labour government denial of franking credit refunds: 4 SMSF strategies to consider

The current labour government proposal to remove the refund of franking credits for SMSF’s and other taxpayers is a significant one. Many Perth based families in business have structured their succession plan taking into account the generous taxation treatment of superannuation and SMSF’s using the way imputation credits are treated.  The proposed removal of the… Continue reading The labour government denial of franking credit refunds: 4 SMSF strategies to consider

Categorised as Tax
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