Accessing Business Profits through an Interposed Partnership with a Private Company Partner – TA 2015/4 On 12 November 2015, the ATO issued a Taxpayer Alert about arrangements where a purported partnership with a private company partner is...
Read MoreSingle Touch Payroll Reporting
In the 2015-16 MYEFO statement, released on 15 December 2015 by the Treasurer, the Hon Scott Morrison MP, and the Minister for Finance, Senator the Hon Mathias Cormann, the government announced that it will simplify the reporting by...
Read MoreNational Innovation and Science Agenda – Tax Changes Announced
On 7 December 2015, a suite of new Tax and Business incentive measures was announced under the Commonwealth government’s National Innovation and Science Agenda (NISA): Prime Minister’s media release (7 December 2015)...
Read MoreClaiming website development costs
If you incur expenses creating or maintaining your business’ website, you may be able to claim some of these costs as a deduction in your tax return. Capital expenditure You might be able to claim costs incurred before you start up your...
Read MoreFringe Benefit Tax (FBT) Updates April 2016
At the beginning of 2016, the ATO reminded employers about the Fringe Benefit Tax (FBT) advantages that may apply to eligible Business Owners, such as office event and work-related electronic devices tax deductions. Further details include: FBT...
Read MoreBusiness Tax Updates
April 2016 Fringe Benefit Tax (FBT) Updates At the beginning of 2016, the ATO reminded employers about the Fringe Benefit Tax (FBT) advantages that may apply to eligible Business Owners, such as office event and work-related electronic devices...
Read MoreImpact on medical professional with Government cap on Fringe benefit exemption 2016
Changes to Government cap on Fringe benefit exemption for year 2016-17 The Federal Government has imposed a tight cap on fringe benefit tax exemptions for public and not-for-profit hospital staff, fuelling concerns many institutions will...
Read More2016 tax return Forrestfield –What is new!
2016 tax return –What is news from the team at Forrestfield In 2016 tax year, a $20,000 instant asset write-off threshold has been granted to all the small business comparing to the previous threshold of $1000, starting from7.30pm (AEST) 12 May...
Read MoreClaim your home internet
So you want to claim your home internet on your income tax return? Firstly if you use your home internet for work or business use then yes you can claim it! The issue is if you also use your home internet for non income generating activities...
Read MoreGreek Financial Crisis in plain English – maybe
Are you wondering what is really going on in Greece? If you had a little brother who asked for (yet another) loan and you knew he couldn’t pay back what he’d previously borrowed, even if he took this next instalment to the track and won the...
Read MoreTax Advice St Ives
Quick Tax Update – CHANGE TO SUPERANNAUTION CONTRIBUTION CAPS The salary sacrificing or “concessional” cap for superannuation is to be increased to $30,000 for the 2014-15 year, up from the current amount of $25,000. The cap is the limit on...
Read MoreCanberra Tax | Tradie Tax Return
Canberra Tax: Tradie Tax Return Canberra and Queanbeyan Are you a tradie in Canberra or Queanbeyan looking for an accountant to help you with your personal or company tax returns or BAS statement? Do you need help with your book keeping and...
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