What if you are forced to unwind your LRBA? Best to have a contingency plan
Limited recourse borrowing arrangements (LRBAs) were once all the rage in SMSF land. However, with the tightening of banking rules this frenzy has begun to abate somewhat over the last few years.
Read more
Understanding novated leases, FBT and claims for work-related car expenses
A novated lease is a popular way for employers to reward and incentivise their staff. Through a salary sacrifice arrangement that includes a novated lease, employees are provided with a vehicle and can also reduce their personal tax liability.
Read more
Stay alert for scams and fraud
The Australian Taxation Office (ATO) is committed to educating taxpayers on how to protect themselves against tax scams and identity theft.
Read more
The ins and outs of “entertainment” business deductions
As a tax concept, “entertainment” can be relevant not only to fringe benefits tax (FBT), but also to income tax and even goods and services tax (GST).
Read more
Top 10 tips for rental property owners by ATO
The ATO has published top 10 tips for rental property owners to help them avoiding common mistakes. Learn more to save your time and money.
Read more
Substantiation for work expense claims
If the claims are to be permitted, they must be substantiated by an individual incurring claims for work-related expenses, car expenses, and travelling expenses (Division 900 of ITAA97). Along with the incur deductible expenditure requirement, strict evidentiary requirement imposed by the “substantiation” rules must be satisfied if claims are to be permissible. or work expense claims.
Read moreOur Management Credentials
