For certain travel expense claims, the term ‘itinerant’ needs clarity - Tax Accountants Chatswood
Being able to make claims for work-related travel expenses is generally an enviable deduction situation, and one that a good many taxpayers would like to achieve — especially given that the status of being deemed an “itinerant” worker brings with it an expectation of a lot of travel kilometres.
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The ATO is looking for personal services income diverted to SMSFs - Tax Accountants Carrum Downs
The ATO has announced that it is reviewing arrangements where members of an SMSF (typically at, or approaching, retirement age) purport to divert income earned from their personal services to their fund, which results in minimising or even avoiding tax altogether on that income.
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Guide to making motor vehicle expense claims - Tax Accountants Cairns
A perennial topic regarding tax deductions is claiming expenses for a car. The following notes summarise the most salient points when it comes to claiming a deduction for motor vehicle expenses. Of course every person’s circumstances may be different, but the following covers most of the relevant information.
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Tax incentive for angel investors in start-ups - Tax Accountants Brunswick
For more than two years now (from 1 July 2016) two key tax incentives have been available for investors considering putting their money behind qualifying start-up businesses — or as the ATO has dubbed them, early stage innovation companies (ESICs).
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What is the ‘tax gap’? And how does the ATO measure it? - Tax Accountants Bankstown
Every year, the ATO measures its revenue and compares that total against the amount of revenue it should have made were every taxpayer fully compliant. As you may expect, very often the two numbers are different. And it is this discrepancy that has become known as the “tax gap”.
What are the four stages of business growth every business owner needs to know?
Running your own business is amazingly rewarding but also a lot of hard work and there are always challenges thrown at you. Some of these challenges can be more easily navigated (or even avoided) with good planning.
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