Wen Wen, Author at W Wen & Co | Chartered Accountants & Business Advisors

Professional Fees For Start Up Small Businesses Are Now Deductible

Small businesses start up expenses can now be reduced … Start-up small businesses are able to deduct a range of expenses associated with launching their venture, such as the costs of professional, legal and accounting advice. When will these allowable deductions become effective? The government’s “Jobs and Small Business” package announced with the last budget […]

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How To Have A Tax Free Christmas Work Party ... image

Tax-free Christmas Work Party – Top 5 Tips!

Don’t get a tax hangover … Christmas is almost here and while you should feel free to pop some champagne corks for your staff, you want to make sure that you don’t get a tax hangover; particularly with fringe benefit tax and associated income tax and G.S.T. pitfalls. Top 5 tips to keep your Christmas tax-free: Give until it

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Registration For Foreign Ownership Of Agricultural Land

Registration of agricultural land ownership for foreign persons will be handled by ATO From 1 July 2015, the ATO will be responsible for a register related to foreign ownership of agricultural land. All foreign individuals, companies and trustees are required to notify the Australian Taxation Office if they: have an existing interest in agricultural land

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The Sharing Economy And Your Tax Obligations

Have you ever let a room on the popular accommodation site Airbnb? Ever shared a ride with pseudo taxi service Uber? If you participate in what’s now called the “sharing economy”, you may have some tax to pay. What is the sharing economy? The Australian Tax Office (ATO) says the sharing economy is a new

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Top 5 Avoidable Tax Mistakes Made By Small Business Owners

If you fail to plan, you plan to fail Too many businesses fail because they don’t plan for their tax commitments well enough. From payroll tax to superannuation guarantee contributions to GST, we’ve seen businesses wiped out by huge penalties and tax debts because they kept putting off their obligations. Tax mistakes that leads to business failure

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Tax Exemption Removed For Government Employees Working Overseas

Tax update for Australian residents working overseas In the 2015-16 Federal Budget, the government announced that it will amend the law to remove the income tax exemption available to government employees who work overseas to deliver Official Development Assistance (ODA). Under current arrangements, the income of Australian residents who work overseas for more than 90

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