Instant Asset Write Off

Instant Asset Write Off

Instant Asset Write Off Assets used in business are usually subject to a tax-deductible depreciation write off over their useful life or at rates set-out by the Australian Tax Office. Assets (including cars) that are available for use and used in businesses with an...
Claiming Car Expenses

Claiming Car Expenses

CLAIMING CAR EXPENSES FOR BUSINESSES AND INDIVIDUALS Certain tax advantages can come with cars if they are used for work or employment purposes. For income tax and fringe benefits tax purposes: A “car” is any vehicle principally designed to carry less than 9...
How Downsizer Contribution Works

How Downsizer Contribution Works

Many retirees find they want a smaller home, or a home more suited to their empty-nest requirements. For some, selling the family home can be great way to release built-up equity to pay for retirement living expenses or in-home support that will allow them to stay at...
Financial Reporting Requirements QBCC Licence

Financial Reporting Requirements QBCC Licence

FINANCIAL REPORTING REQUIREMENTS QBCC LICENCE From 1 January 2019, the documents required to fulfil the QBCC licence financial reporting requirements changed. Are you ready? The main QBCC minimum financial reporting requirements changes 2019 are: Businesses with sales...
Tax Deductions for Doctors

Tax Deductions for Doctors

Tax Deductions For Medical Professionals The tax environment for all professional practices including medical practices can be complicated. Tax deductions generally are expenses directly incurred to earn income or run a business. They can’t be Capital, Private or...