Understanding Car Related Expenses If you use your own car for work purposes, you can claim a deduction using the cents per kilometre method or logbook method. If you use someone else’s car for work purposes, you can only claim for direct costs you pay for – such as fuel. For further information [...]
Are you a Miner and pay a lot of tax? Do you know what your entitlements are when it comes to deductions? Read on to find out what you might be eligible to claim. To claim a deduction for work related expenses; you must have spent the money yourself and weren’t reimbursed it must be [...]
10 craziest things you can claim on tax One of the most dreaded and highly anticipated times of the year is tax season. There are millions of Australians who are wrecking their nerves out for ways on how to boost their tax returns. According to a research conducted by Officeworks, there are $1.65 billion of unclaimed taxes [...]
Forgetting to pay out superannuation payable accounts before the end of financial year could be costly for businesses and is something overlooked by many accountants, warns an accounting firm. The due date for super payments in Q4 of 2017-18 will be 28 July and, according to the ATO, if super payments have not been paid [...]
2018/19 Federal Budget Personal income tax changes 1.1 Personal income tax plan The Government will introduce a seven-year, three-step, Personal Income Tax Plan, as follows: Step 1: Targeted tax relief to low and middle income earners The Government will introduce the Low and Middle Income Tax Offset, a non-refundable tax offset of up to $530 [...]
Partnerships A partnership is defined by the Partnership Act 1892 (NSW) as the relationship which exists between persons carrying on a business in common with a view to profit. It involves an agreement between two or more parties to enter into a legally binding relationship and is essentially contractual in nature. It's wise to have a formal written [...]
Attention arbitrage. A somewhat new name but a familiar concept. So what is it? Arbitrage is the process of buying and selling in different markets and benefiting from the profit. Attention arbitrage flips the focus from monetary value – to people’s attention, a somewhat rare commodity. Attention arbitrage focuses on how to attract and [...]
1. Be on Time Someone you are meeting for the first time will not be interested in your "good excuse" for running late. Plan to arrive a few minutes early, and allow flexibility for possible delays in traffic or taking a wrong turn. Arriving early is much better that arriving late, and is the first [...]
