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Top 10 must-know depreciation terms for residential investors

You don’t need to be a depreciation expert but understanding some of the key concepts surrounding this complex area of taxation can help your ongoing investment strategy. Capital works deduction This is the depreciation deduction you can claim on the structural component of the building and...

Why employers should lodge FBT Returns, even if no FBT is payable

What is a Fringe Benefit? A fringe benefit is a benefit provided to an employee (or their associate) because that person is an employee. Benefits can also be provided by a third party under an arrangement with the employer. An employee can be a current, future...

Insolvency reforms

Important changes to Australia’s insolvency laws commenced on 1 January 2021. The Assistant Treasurer has said that they are the most important changes to Australia’s insolvency framework in 30 years. The changes introduce a new, simplified debt restructuring process for eligible small businesses. The process allows...

Changes to PAYG and GST instalment notices

The ATO has advised they will no longer issue paper instalment notices for PAYG and GST quarterly instalments once an activity statement or instalment notice is lodged, revised or varied electronically through: a myGov account linked to the ATO the Business Portal Online services for...

JobMaker Hiring Credit: What you need to know

The JobMaker Hiring Credit scheme (JobMaker) is a new government incentive in response to the COVID-19 economic crisis. Eligible employers can access JobMaker payment for each eligible additional employee aged 16 to 35 they hire between 7 October 2020 and 6 October 2021. The program...

Learn how to improve profit with these basic principles

By Michael Fox and Chrisanthe Lekatis So you want to improve the profitability of your business but don’t know where to start? Our aim is to explain the basics to you and let you know what you need to address in order to increase the profit generated by...

Successor Director Is Crucial To Your Business. Learn Why!

Many small to medium businesses are advised to have a family member as the operator (Director) of the business and risk-taker associated with the company whilst your partner or a family trust or similar hold all assets for the family. This commercial advice is based on...

This renovation tip can save you thousands

Renovating an investment property is different to renovating your own home. Whether the renovation is big or small, you will be taking a head over heart approach and doing what will help you improve your return on investment. Claiming depreciation deductions on the assets installed during...

Christmas tax tips

It's that time of the year again - Christmas countdown has begun! Whilst parties might be off the agenda for some Australian businesses this year due to COVID-19, employers may want to give Christmas gifts to their employees, contractors and clients. An important part of...