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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Keeping busy — but is it just a hobby, or are you in business? - Tax Accountants Carrum Downs
It is important to understand the differences between a hobby and a business for tax, insurance and legal purposes among other things. For one thing, there will be certain tax and other obligations that start once you are in business.
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What you need to know about trust distribution resolutions - Tax Accountants Burwood
An essential starting point for consideration of trust income and how that income is to be distributed is to look at the trust deed. This very central document sets out the rules and expectations for the governance and operation of the trust and the powers that can be exercised by the trustee.
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