6 Final reminders of how to reduce tax for 2020
As a business owner, there are many obligations that you need to consider and action just before and after 30 June.
Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit. […]
The government has announced that business with less than $500m in turnover will receive accelerated depreciation deductions for new assets up to 30 June 2021.
Do you really know who owns that asset? You may need the PPSR
There is a simple step that many business owners can take to better manage the risk that can attach to certain assets. The Personal Property Security […]
ATO receives five more years of policy details from insurers about “lifestyle assets” like yachts, fine art
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The threshold rule allows a business to claim an immediate deduction for most business expenditure of $100 or less to buy tangible assets
Tradies: Some tax claims pivot on how you operate
A lot of the time, what you can claim depends on whether you’re an employee tradie or a small business (that is, operating as a sole trader, partnership, […]
CGT explainer for Salisburys clients
There are provisions in the tax law that mean a taxpayer does not have to pay capital gains tax (CGT) when they sell a house, flat, unit or other dwelling […]
Setting up a business structure
We explain the benefits and disadvantages of different types of business structures. Sole trader
A sole trader is the simplest business structure and it is inexpensive to set up because there […]
The dominant lion may lounge around the place…
And a typical gorilla father will go to battle with other males, who are known to kill baby gorillas as they try to take over the group. Meanwhile, Emperor Penguin dads are […]
Lifestyle assets data matching program protocol
The ATO will obtain information from data providers for the 2013/14 and 2014/15 financial years, to identify taxpayers who are […]