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Tax Insight

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Save Tax: Tax planning

Save Tax: Tax planning. Are you operating a business alone or in partnership with your spouse?

Save Tax - tax offset or tax deduction

Save Tax - tax offset or tax deduction. Which is better? A tax offset is not the same as a tax deduction. A deduction is subtracted from your assessable income to calculate your taxable income whilst tax offsets are deducted from the income tax payable.

Save Tax: Tax-related Expenses

Save Tax: Tax-related Expenses.

Save Tax: family tax planning

Save Tax: family tax planning. Where there are large income differences between spouses, or there are children involved, especially adult children who are undertaking tertiary education, significant tax benefits can be obtained by careful tax planning.

Save Tax: Tax Deductible Clothing

Save Tax: Tax Deductible Clothing. You can claim a deduction for the cost of buying, renting replacing and maintaining clothing, uniforms and footwear if these items fall within the categories listed below.

Save Tax: Release from tax

Save Tax: Release from tax. Will payment of a tax liability create serious hardship?

Save Tax: Selling assets tax free

Save Tax: Selling assets tax free. 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 - avoiding super death tax

Save tax - avoiding super death tax. If you are receiving a super pension it will revert to your spouse or dependants on your death (subject to conditions).

Tax Office crackdown on tax debts

Tax Office crackdown on tax debts. The lenient approach to debt collection taken by the Tax Office during the Global Financial Crisis has been discarded and replaced with a new hard-line.