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Save Tax: Incorporation

Save Tax: Incorporation. Are you running a profitable business and suffering high personal marginal tax rates? Incorporate your business and leave profits in the company taxed at the moderate company rate of 30%. Keywords: Next Article.

Save Tax: Preparation

Save Tax: Preparation. Preparation for a tax audit is all important. Tax auditors will insist on seeing adequate records of your entitlements to tax deductions and proof of any claims that money received was not taxable income.

Save Tax: Theft

Save Tax: Theft. You can claim a deduction for loss of money through theft, stealing embezzlement, etc if the loss is an incident of your business operations such as the theft of your day's bankings whilst it is on the way to the bank.

Save Tax - incorporation

Save Tax - incorporation. If you own an asset or a business that is not likely to increase substantially in value, but is income producing, think about capping tax at 30% by rolling it into a wholly owned company.

Save Tax: Childcare

Save Tax: Childcare.

Save Tax: Interest

Save Tax: Interest. You can claim deductions for interest paid on monies borrowed to: Repay partners’ capital contributions. Pay undrawn partnership profits.

Lovetts Accountants - Brisbane CBD
Lovetts Services: Save Tax

Optimise your tax liability with legal compliance. through proper business planning and effective accounting. Get in touch. Save Tax. Tax Accounting.

Save tax - pre-payments

Save tax - pre-payments. For individuals and small businesses, prepayments can be claimed in full provided the period covered by the prepayment does not exceed 12 months and concludes before the end of the financial year.

Save Tax: relocation costs

Save Tax: relocation costs. Expenses paid by an employer to meet or reimburse relocation costs of an employee who is required to relocate for work purposes, are exempt from FBT.

Save Tax: Computer software

Save Tax: Computer software. Software developed or acquired for your business is known as in-house software. You can claim depreciation based on an effective life of 4 years - this is a rate of 25% p.a. prime cost.