The attractiveness of superannuation as an investment and savings vehicle is well known. As we mentioned earlier, although the federal government places limits on the amount of tax-effective contributions we can make, the ability to structure insurance arrangements through super remains. HOW DOES INSURANCE THROUGH SUPER WORK? The types of insurances considered here are […]
Super, It’s Not Really a Sacrifice
If you are earning more than you need to live comfortably, salary sacrificing may be an attractive option to reduce your tax, boost your superannuation and prepare for a more comfortable retirement later on. Salary sacrificing simply involves having part of your salary paid into a superannuation fund by your employer rather than receiving it […]
Aged care costs in perspective
Putting aged care costs into perspective – a story A growing number of Australians are encountering the challenges of assisting elderly relatives with the move into aged care. One of them was a new client of ours, let’s call him Rob. Recently, he had to help his formerly active 78-year-old mother, Mary, with the painful […]
Consolidating your Super: Things to think about
Why consolidate? Many people have accumulated multiple super accounts from changing jobs and have lost track of how many they actually have. It is important to consolidate your super into one account, but why? Having one super account means you will save money by only paying fees for one account, there will be less paperwork […]
Do you have a financial dream?
The end is just the beginning: finding the dream. There is a lot more involved in creating financial independence than just investing. Finding the dream In a world of almost limitless possibilities and with new things constantly clamoring for attention, it can be surprisingly hard to decide on which dreams you want to […]
Protecting your estate
Have you got it all covered? A grieving family knows only too well that the death of a loved one can trigger events that may drag on for years afterwards, especially when it comes to sorting out the estate of the deceased person. Outlined below are some suggestions that may help ease the burden on […]
Adapting your business for an unknown future
Preparing for the unknown There is no doubt that 2020 has been a crazy year. So many business owners have had to adapt (if even possible) to a new normal and whilst some have thrived, many have experienced loss. It feels like the worst is over, restrictions are starting to ease and things are […]
4 Accounting Strategies for Your Trade Business
As a tradie and a business owner, you have to split your time between your business and your customers. With these accounting strategies, you can boost profitability without compromising service. Tradies are in the service industry. You’ve built your entire reputation on providing quality work to your clients. Now, you’re building a business based on […]
Structuring a Trade Business (And the Tax Tips That You Need to Know)
Tradies have valuable services to offer to their clients. However, it’s crucial that they put the same care into structuring their businesses as they do into their work. Those working in a trade build their businesses on the quality of their service. If a plumber doesn’t do a good job, they don’t get recommended to […]
Tax Deductions for nurses, midwifes & carers
If you’re a nurse, midwife or carer it pays to learn what you can claim at tax time…
Travel Expenses: What’s Tax Deductible & What’s not
Transport expenses are deductible when you travel in the course of performing your duties. This includes the cost of driving your car, flying, catching a train, taxi or bus…
Claiming Deductions on Clothing and Laundry
You can claim a deduction for the cost of buying and cleaning: occupation-specific clothing, protective clothing and unique, distinctive uniforms. Here are some more details…
Tax Deductions for Doctors and other Medical Professional
If you’re a Doctor, specialist or other medical professional, it pays to learn what you can claim at tax time… Take a look
Tradies Tax Deductions
By Bottrell Group on June 1, 2018 in Australian Tax Office Updates, Hints & Tips, Interesting Articles
You can claim a deduction for expenses incurred as an employee tradie if: you spent the money yourself and were not reimbursed it was directly related to earning your income you have a record to prove it. Tips: Include all your income on your tax return – including cash! Use the ATO app’s myDeductions tool […]
Working From Home? Here’s what you can claim on tax
By Bottrell Group on June 1, 2018 in Australian Tax Office Updates, Hints & Tips, Interesting Articles
If you’re an employee who regularly works from home, you may be able to claim a deduction for expenses relating to that work. The Bottrell team are a group who specialise in accounting and tax for both individuals and businesses, as well as super funds. We support our clients and form strategies […]
