Death and Taxes

Death and Taxes

Australian Estate Taxes – Background Death and Taxes Income tax rules as they apply to deceased Estates can be quite complex so we’ll try to run through them in an easily understandable manner below. When a person dies, their Will controls what happens to their...
Tax Entertainment Expenses

Tax Entertainment Expenses

Business entertainment tax deduction Back in the late 80’s, the Government became all concerned about the Corporate Fat Cats dining-out and claiming tax deductions in the guise that this was related to marketing and “doing-business”. So, they shut it down. It’s now...
Residential Rental Property Investment Depreciation

Residential Rental Property Investment Depreciation

From 1 July 2017, the Tax Office introduced new laws limiting investors ability to claim depreciation on investment properties. The laws target ‘previously owned’ equipment (dryers, microwaves etc.), fixtures and fittings (curtains, carpets etc.). Under the new regime...
Directors fees, wages, drawings and superannuation

Directors fees, wages, drawings and superannuation

Directors’ Fees, Wages, Drawings and Superannuation Guarantee From 1 July 2019, changes to the law for the tax deductibility of payments of Directors’ fees will take effect. Failure to comply with these changes will prevent the payments from being a tax-deductible...
Car logbook for tax purposes

Car logbook for tax purposes

Car logbook  To claim a deduction for motor vehicle expenses the tax office requires substantiation of the business use of the vehicle. This can be documented through a logbook. The percentage of business use determines the tax deductibility of the vehicle expenses....