Taxation Advice & Planning

Businesses can claim previous year tax losses

Businesses Can Claim Previous Year Tax Losses

By Wen Wen / September 21, 2020

Claim a deduction for your business tax losses If your business has made tax losses in years to the current one, but you haven’t yet offset all those losses, you can still carry these forward and claim a deduction for them in a later year — as long as you meet all the requirements of […]

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Last-minute tax planning tactics 2019-2020

End of Financial Year- Last-Minute Tax Planning Tactics

By Wen Wen / June 16, 2020

Effective tax strategies to employ for the current tax year This financial year is almost over, but there are still effective strategies you may be able to employ to make sure you pay the right amount of tax for the 2019-20 year and maximise any refund entitlement. This is still, if not more so, the […]

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The threshold rule for small businesses

Small Business | Low-Cost Assets And The Threshold Rule

By Wen Wen / November 27, 2019

The small business threshold rule There is a rule in the tax law that allows a business that doesn’t use simplified depreciation to claim an immediate deduction for most business expenditure of $100 or less to buy tangible assets. Known as the threshold rule, this can help small business owners save time as well because […]

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Lodging your Australian tax return from overseas

Lodging Your Australian Tax Return From Overseas

By Wen Wen / November 7, 2019

Australian tax return and “worldwide” income Most people’s “to-do” list when they are planning a trip overseas will likely include items such as travel insurance, phone chargers or taking photos of their passport — but probably the last thing on anyone’s minds will be their likely tax situation before, during or after that trip-of-a-lifetime. However, […]

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Property development and tax obligations

Property Development And Tax Obligations

By Wen Wen / November 7, 2019

The ATO keeps an eye on property developers The ATO seems to be always looking over the shoulder of property developers to make sure they are complying with their tax obligations. The considerations facing the ATO are many and varied, but can include topics such as whether an agreement to develop and sell land is […]

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10 helpful tips to avoid common tax mistakes for rental property owners

TOP 10 Tips To Avoid Common Tax Mistakes For Rental Property Owners

By Wen Wen / November 7, 2019

Best tips to avoid tax stumbles The ATO is reminding rental property owners that each year it sees some fairly common mistakes being made with tax claims for investment properties. It has therefore released a list of the top 10 stumbles and how best to avoid them. 1. Apportioning expenses and income and for co-owned […]

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