Concerned that an ABN quoted to you is not genuine? You can check this through the internet at www.abr.gov.au Always ensure that an ABN is quoted otherwise you must deduct withholding tax at the rate of 49%.

Companies must gross up franked dividends received and then can reduce tax payable by the amount of the franking credit.

You may be able to claim deductions for capital expenditure incurred in the creation or purchase of an Australian patent, registered design or copyright.

Preparation for a tax audit is all important. Tax auditors will insist on seeing adequate records of your entitlements to tax deductions and proof....

Authors, inventors, performing artists, production associates and sports persons receiving higher than normal income in a particular year can average down their tax rate under...

You can help protect your family against unexpected claims and creditors if you establish a discretionary trust.

Employers who provide fringe benefits with an annual taxable value of $7,965 or less in the 2014/15 income year enjoy some exemptions from the keeping of detailed FBT records.

You may be able to obtain rollover relief where there is a scrip-for-scrip takeover between companies and trusts (whether widely held or private entities).

When interest on a housing loan is not deductible, it is unfair to have to pay tax on any interest received on savings.

If you are an eligible small business taxpayer you can claim immediate deductions for plant items costing up to $1,000.

If you have assets or investments in your self managed super fund and you move it into pension phase and then sell the assets...

The cost of items of plant and equipment used in calculating depreciation is the full purchase price plus any costs of transporting...

You can get a full deduction for items of plant costing $100 or less (including GST).

If intending to sell a business, complete all necessary repairs to plant and equipment before the sale with a view to increasing the...

Travel for attending conferences, buying, selling and general conduct of business can still be deductible even if part of the time is used for holiday or pleasure.

There is a limit on depreciation claims for luxury cars. If you acquire a luxury car for business, tax deductible depreciation can be claimed on a maximum cost of $57,466.

Software developed or acquired for your business is known as in-house software.

If you purchase a computer system for use in your business, the software and contract services are often included in the total cost.