Tax Tips For Business Owners
A business becomes liable for car parking fringe benefits tax where it provides parking for more than four hours on its premises to its employees, and is situated within one kilometre of a commercial car park where the minimum all day cost is more than the current parking fringe benefit threshold ($8.66 a day for […]
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Historically taxpayers may have been able to claim a deduction for the start up costs associated with setting up a business or raising finance, including the costs incurred in: establishing a company or other business structure converting a business structure to a different structure raising equity for the business defending it against a takeover unsuccessfully […]
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Have You Heard of Division 293? If your remuneration, including reportable fringe benefits and salary sacrificed superannuation contributions is in excess of $250,000 pa, you may have an additional tax liability over and above the normal income tax payable on such earnings due to Division 293. Now that would be a fairly substantial salary package, […]
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Have you or someone you know considered taking up ride-sharing (also called ride-sourcing) to earn extra income, or even as an alternative form of employment? When providing ride-sharing services through Uber or GoCatch and other facilitators for a fare, there are things you need to know, and traps you need to be aware of. The […]
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If you are planning to permanently leave Australia before the end of the financial year, you may be able to have your tax return lodged early. Generally, the ATO only accepts early lodgment of individual returns in certain perscribed circumstances. If you are a resident of Australia for tax purposes, returns lodged before the end of […]
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The CGT relief concessions available to small businesses can be very generous. However they can also be complex and confusing, so knowing a few of the finer details can go a long way to ensuring your small business can take best advantage of them. It’s never too early to consider an escape plan, so when […]
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