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...
Superannuation Contributions

Superannuation Contributions

Contributions Concessional (tax deductible) superannuation contributions can be claimed as a personal tax deduction or are tax deductable to the employer entity making the payment. Please note, the concessional contribution caps include any salary sacrifice amounts,...
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....
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...