General

No tax deductions if you don’t meet your tax obligations

New laws passed by parliament last month directly target the behaviour of taxpayers that don’t meet their obligations. Tax deductions denied If taxpayers do not meet their PAYG withholding tax obligations, from 1 July 2019 they will not be able to claim a tax deduction for payments: of salary, wages, commissions, bonuses or allowances to [...]

By | December 19th, 2018|General|0 Comments

$2 billion fund to transform small business access to funding

Joint media release with Senator the Hon Michaelia Cash Minister for Small and Family Business, Skills and Vocational Education The Liberal National Government will significantly enhance access to funds for small business across the country through the introduction of a $2 billion Australian Business Securitisation Fund and encourage the establishment of an Australian Business Growth [...]

By | November 14th, 2018|General|0 Comments

Accelerated tax rate reduction for small business

Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses. Parliament recently passed legislation to accelerate the corporate tax rate reduction for corporate tax entities that are base rate entities (BREs). Under the new [...]

By | November 13th, 2018|General|0 Comments

Travelling to and from your investment property

From 1 July 2017, new rules came into effect that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property. The Government restricted travel deductions to curb “widespread abuse around excessive travel expense claims relating to residential investment properties….This will stop residential property investors from using the tax [...]

By | November 13th, 2018|General|0 Comments

Working from home: What deductions can you claim?

For a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their ‘hit list’ are home office expenses.  We guide you through what you can and can’t claim if you work from home. Last financial year, 6.7 million [...]

By | November 12th, 2018|General|0 Comments

When can you take your super?

The cash sitting in your superannuation fund can be tempting, particularly if you are short of cash. But, the reality is there are very few ways you can take advantage of your superannuation once it has been contributed to the fund – even if you change your mind. The sole purpose test underpins access to [...]

By | September 13th, 2018|General|0 Comments

Teacher Deductions

What we can learn about tax deductions for Teachers? Tax deductions for teachers can be industry specific and complex. This blog explores the specific deductions available to education professionals with relevant examples to help explain how the deductions can be applied. The ATO has issued an Interpretive Decision ID 95/13 which specifically deals with tax [...]

By | September 12th, 2018|General|0 Comments

Invitation | Medical Seminar

#StartGrowGo #MedicalSeminar #Newcastle #Wednesday19September #ApolloInternationalCharlestown #WhitelawMcDonald

By | August 23rd, 2018|General|0 Comments

Who gets a tax cut from 1 July?

1 July 2018 is the start date for the seven year income tax plan announced in the recent 2018-19 Federal Budget. The seven year plan benefits low and middle income earners in the first few years before expanding out to a broader restructure of the tax rates and brackets for everyone. From 2018-19, the top [...]

By | June 21st, 2018|General|0 Comments

Your essential EOFY checklist

No one wants to pay more tax than they need to or face unnecessary risks. We’ve compiled a list of our top tips for you. Donate - If you are going to donate to charity, now is the time. Any donations you make to deductible gift recipients can be deducted this year. Remember, if you [...]

By | June 21st, 2018|General|0 Comments