When Benjamin Franklin said that the only things certain in life were “death and taxes” most people didn’t consider that they may be closely linked. But problems with taxes can lead to the death of your small business unless you take steps to keep the taxman off your back. With sales meetings, recruitment, salaries, cashflow …
Read more “9 ways for small business owners to keep the taxman happy”
This post originally appeared on NSW Revenue Government website. From 1 January 2018 certain types of insurance for small businesses are not liable to duty. A small business is an entity within the meaning of section 152-10 (1AA) of the Income Tax Assessment Act 1997 of the Commonwealth for the income year in which the insurance is effected or …
Almost everyone dreams of being a property developer, whether it’s finding a great parcel of land to build townhouses or subdividing the land they’re currently living on. But what are the tax implications of property development? Ignoring those who develop properties for a living (i.e. people who regularly buy and sell, or develop multiple properties) …
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A number of our clients have recently established their own Private Ancillary Funds (PAFs). A PAF is a charitable trust that gives grants to eligible charities over time. It’s controlled by a company as trustee, and the board is usually comprised of family or friends. However, every PAF must have at least one independent director. …
Read more “How to create an ongoing legacy using a private ancillary fund”
It’s the start of a brand new financial year. And while there isn’t much more you can do to maximise your refund this time around, there’s a lot you can do to maximise the refund you get next time. questions to ask But what are the best ways to do it? To help you out, …
Read more “Our Top 10 Tax saving tips – Log books, Write-offs and more”