by James Carey | Jun 19, 2018 | Business Services & Advice, Individual Tax
The end of financial year is almost here! Now is the time to review what strategies you can use to minimise your tax. 1. Maximise Deductible Super Contributions Individuals can now make tax-deductible personal contributions to superannuation to reduce their taxable...
by admin | Mar 28, 2018 | Business Services & Advice
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees. Motor vehicles – using the company car outside of work New safe harbour for utes and commercial vehicles Car parking – are you really declaring the true...
by James Carey | Feb 15, 2018 | Business Services & Advice, Individual Tax
The ATO has plans to relax the rules for the private use of work utes in the lead up to their blitz on Fringe Benefits Tax non-compliance. Existing rules allow utes to only be used for ‘minor, infrequent and irregular’ journeys without incurring Fringe...
by James Carey | Jan 18, 2018 | Business Services & Advice, Self-Managed Superannuation
Recent changes to State laws may trigger a surprise tax bill for family trusts (discretionary trusts). The problem for family trusts stems from recent legislative changes in New South Wales (NSW), Victoria (VIC) and Queensland (QLD) that impose a surcharge on...
by James Carey | Dec 19, 2017 | Business Services & Advice
The 2017 State Budget brought with it a change worthy of celebration for small businesses. The NSW small business exemption will mean that from 1 January 2018, small businesses will no longer have to pay stamp duty on certain types of insurance. The exemption applies...
by James Carey | Dec 19, 2017 | Business Services & Advice
Changes to the Jobs Action Plan and the Small Business Grant are providing incentives for NSW businesses to up their employee count. Companies that are liable for payroll tax can earn up to $6000 for every new employee, and those that aren’t liable for payroll...
