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It is general in nature, for guidance only and is not intended to be personal advice. It should not be relied upon without obtaining professional advice regarding your direct circumstances.…
If you have assets or investments in your self managed super fund and you move it into pension phase and then sell the assets, there is no CGT or other income tax on the sale of the assets! Keywords: Next Article.…
Save Tax: Meals and refreshments. You can claim a deduction for the cost of tea, coffee and light lunches provided to employees on the work premises during working hours. These are exempt from FBT. Keywords: Next Article.…
Legal costs, stamp duty, mortgage preparation and valuation fees, broker's charges, etc are deductible if business related and should be pro rated over the period of the loan, up to a maximum of five years. Keywords: Next Article.…
Interest on monies borrowed to purchase an asset mused for both business and private purposes must be apportioned on a reasonable basis, eg. kilometres driven, floor space, etc. Keep adequate records to explain your method of apportionment.…
It is general in nature, for guidance only and is not intended to be personal advice. It should not be relied upon without obtaining professional advice regarding your direct circumstances.…
It is general in nature, for guidance only and is not intended to be personal advice. It should not be relied upon without obtaining professional advice regarding your direct circumstances.…
Where a shareholder (and perhaps director) of a company is also a bona fide employee, formalise the employment arrangement and provide use of company assets such as cars and in-house assets as a fringe benefit which are subject to concessions reducing the taxable…
Be aware that if you set aside an area in your home solely for work purposes and claim a proportion of rates, maintenance, insurance and interest that part of your home will cease to enjoy the CGT exemption applicable to your main residence.…
You can claim expenses incurred in providing food, drink, accommodation and travel that is reasonably incidental to the attendance at a seminar which lasts for at least four hours and assists you to earn assessable income.The seminar must not: Be a business…