SMSF trustees: Operating expenses you can deduct - Tax Accountants Footscray
Operating expenses that are incurred by an SMSF are mostly deductible, however there can be exceptions to the extent that these relate to the gaining of non-assessable income (such as exempt current pension income) or are capital in nature.
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CGT exemption on inherited homes - Tax Accountants Eastwood
Inheriting a home or a legal interest in one could be the largest windfall gain that many Australians ever experience.
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Tax and the kids’ savings - Tax Accountants Docklands
If a child is under the age of 18, and they earn income on their savings account, remember that the ATO considers that the person who “owns” the interest depends on who uses the funds of that account (no matter what type of account it is or the name of the account holder).
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Property development and tax - Tax Accountants Dandenong
The ATO seems to be always looking over the shoulder of property developers to make sure they are complying with their tax obligations.
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The small business income tax offset - Tax Accountants Clayton
The small business income tax offset (also known as the unincorporated small business tax discount) can reduce the tax a sole trader business pays by up to $1,000 each year. The offset is worked out on the proportion of tax payable on business income.
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Small businesses need to get “active” to pay less tax - Tax Accountants Chatswood
For small business owners who are disposing of assets that have risen in value during the time they have owned and used them in their business, accessing one or more of the available small business capital gains tax (CGT) concessions can greatly reduce any consequent tax liability.
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