Novated leases explained
Wrapping a car into a salary package is a very popular choice, and doing so as part of a salary sacrifice arrangement often raises the topic of novated leases. What’s a novated lease? Simply put, a novated lease is a…
Macy
Home renovations: Overlooked tax deductions for investors
Many investment property owners may be missing out on valuable property depreciation entitlements, simply by not being up-to-speed on what is and is not depreciable. Examples of assets that could qualify for tax deductions may surprise many taxpayers, and can…
CGT property withholding rules
Purchasers to become tax collectors on real estate post-1 July New withholding rules on the sale of property by foreign residents have been introduced – which essentially makes purchasers tax collectors. The government says this has been necessary as foreign…
Taking stock for private use
The ATO knows that many business owners naturally help themselves to their trading stock and use it for their own purposes. This common practice can occur in businesses such as butchers, bakers, corner stores, cafes and more. It regularly issues…
Client Newsletter – July 2016
Home renovations: Overlooked tax deductions for investors Many investment property owners may be missing out on valuable property depreciation entitlements, simply by not being up-to-speed on what is and is not depreciable. Examples of assets that could qualify for tax…
What to bring to your tax return appointment
If you’re coming in soon to discuss your tax return for yourself or your business, try not to turn up completely empty handed, or at least prepared with some records or access to them. Being prepared is not only wise,…
Tips to spot a scam (and what to do)
The ATO has recently warned that it is continuing to see instances of scam emails, SMS messages or telephone calls where criminals try to steal money or information from taxpayers. These scams can be very convincing and many individuals fall…
Regulatory Roundup – July 2016
Key changes for Tax Time 2016: An overview The ATO has issued some brief guidance on the key changes and new measures to be aware of for Tax Time 2016. Some of the changes of note include the tax concessions…
Tourist Refund Scheme
Tourist refund scheme The sun, the surf, the shopping! Australia has enough temptations on offer to keep the credit card running hot. But there’s no need to stress, because there is a little known scheme that might help take the…
Client Newsletter – June 2016
Last-minute tax planning tactics for individuals The current financial year is almost at an end, and with an election to be held two days later the recently announced federal budget measures will of course have no chance to take effect…