Taxation Advice & Planning
Financing Motor Vehicles
One of the most common decisions facing business is how to finance and account for the acquisition of a motor vehicle. There are numerous ways of doing so, with each resulting in differing accounting, taxation and GST treatment. What are the options in financing motor vehicles? How should you go about purchasing a vehicle? While […]
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Temporary Full Expensing (TFE)
This could be the final opportunity for your business to take advantage of Temporary Full Expensing (TFE)…but get in before 1 July! To recap, TFE encourages and supports businesses by allowing an immediate deduction for the business portion of the cost of a depreciating asset. There is no cost threshold – the whole cost of […]
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Small Business Technology Investment Boost
As part of the 2022–23 Budget, the then Government announced it would support small businesses through the Small Business Technology Investment Boost. While this boost is not yet law, it proposes that eligible small businesses can deduct an additional 20% of the cost of expenses and depreciating assets that support ‘digital adoption’. What is Small […]
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NSW Changes To Surcharge Duty And Land Tax
On 21 February 2023 Revenue NSW announced significant changes to surcharge purchaser duty and surcharge land tax in NSW. Are you a citizen of NZ, Finland, Germany and South Africa? – you are affected by the international tax treaties? Currently, foreign buyers who purchase residential-related property in NSW must pay an additional 8% surcharge purchaser […]
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New Work From Home Record-Keeping Requirements
Record keeping for work from home is now stricter Are you one of the five million Australians who claim work-from-home deductions? If so, stricter record-keeping rules may now apply. Understanding record-keeping requirements for remote work arrangements For this financial year and moving forward, there are now only two methods to calculate your work-from-home claim: Actual […]
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Christmas Gifts From Employers
Unwanted tax this festive season Christmas is traditionally a time of giving, including employers showing gratitude to their workers for a job well done throughout the year. However, depending on the nature and value of the gift and also who it is gifted to, such magnanimity can attract unwanted tax consequences. So how, as an […]
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