Articles

A “bucket company” allows you to “cap” the tax on profits distributed by a trust to 30% or 27.5%. This is much less than the individual top marginal rate of 47%!

Small businesses can access a range of tax concessions from the ATO. To qualify as a “Small Business Entity”, the business must have an aggregated turnover (your annual turnover plus the annual turnover of any business connected/affiliated with you) of less than $10 million.

Maximize your savings with our tips on reducing taxes. Claim tax deductions for home office expenses during COVID-19 using the “Shortcut Method.” Take advantage of the $25,000 deductible super contribution cap & consider carry-forward contributions. High-income earners may face additional 15% tax..

For the majority of small to medium-sized business owners, the value of your business is your biggest asset, and very likely, your retirement fund. Upon the sale of your business, it is critical you receive the maximum available net proceeds.

You may provide your employees with benefits you do not usually provide because of COVID-19. This includes paying for items that allow your employees to work from home.

Many employers are unknowingly falling foul of the FBT regime through an incorrect interpretation of the minor and infrequent exemption allowed for benefits that cost less than $300.

An associate lease is a tax effective way to acquire a vehicle while boosting the income earned by the family.

The provision of company cars to employees is a regular practice across the Australian business landscape. Generally, there are two reasons to provide a car to an employee…

The ATO access other databases to ensure that employers are compliant. One example of this is accessing state government records to confirm all motor vehicle purchases by an employer and ensuring that these are properly accounted for in both the financial statements.