2013/14 Federal Budget and Taxation/Medicare Levy changes Deferral of personal tax cuts The Government will defer the personal income tax cuts scheduled to commence on 1 July 2015. There is no specific date to when the personal income tax cuts...
Read MoreFringe Benefits Tax | Laverton Tax Accountant
Fringe Benefits Tax Laverton Fringe benefits tax (FBT) is a tax paid on certain benefits which are being provided to employees or employees’ associates by the employer. FBT is separate from income tax and is based on the taxable value of the...
Read MoreProperty Investment with your Self-Managed Super Fund
Property Investment with your Self-Managed Super Fund For most of us superannuation represents a significant proportion, if not all, of our savings for retirement. With the many recent changes to the legislation governing Self-Managed...
Read MoreSelf-Managed Super Funds
Self-Managed Super Funds In Australia more than 14 billion dollars a year is being moved from industry or employer superannuation to self-managed super funds (SMSF) by individuals that enjoy the control operating their own super fund gives them...
Read MoreDepreciation 2012
Small Business Depreciation – Changes From 1st July 2012 What happened after 1st July 2012 The small business instant asset write-off threshold has increased from $1,000 to $6,500 Small businesses can claim an accelerated initial...
Read MoreAustralian Tax
Australian Tax – A Brief History The first taxes in Australia were raised to help pay for the completion of Sydney’s first gaol and provide for the orphans of the colony. Import duties were put on spirits, wine and beer and later on...
Read MoreCapital Gains Tax Overview
Capital Gains Tax Overview A capital gain occurs when you sell a capital asset for more than what you paid for it. Most property is considered a capital asset. You have to pay for the capital gain made in current income tax...
Read MoreWork Related Tax Deductions
At MAS TAX Accountants we understand the job of putting together all work related deductions may seem overwhelming particularly when presented with the requirement to put together all the tax invoices and receipts for any substantial claims...
Read MoreTax Offsets
Tax Offsets Tax offsets (sometimes called rebates) are completely different to tax deductions. Tax deductions reduce your total assessable income, whereas tax offsets reduce your tax payable regardless of your taxable income...
Read MoreLuxury Car Tax
Luxury Car Tax (LCT) Luxury car tax is a tax that is payable on vehicles that are above a certain price. LCT becomes applicable when a standard vehicle is above $57,466, OR if you are buying a fuel efficient vehicle the threshold is at $75,375...
Read MoreTax Return Taxi Driver
Tax Return Taxi Driver Do you operate a Taxi and need help with your Tax? We have specialist Accountants ready to assist you operate your Taxi business and minimise your tax bill, while maximising your return...
Read MoreEducation Tax Refund
Education Tax Refund – Claim everything you’re entitled to! Get up to 50% back on a range of children’s education expenses! The government is helping you with the costs of educating your child by providing up to 50% back on eligible...
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