Exempt income not subject to tax?

Exempt income not subject to tax?

In Australia, there is certain income that is not subject to tax. It may be possible that you possess income that is not subject to tax. This means that it will not be included as part of your assessable income, however, it may be used to in other calculations for...
Paying GST for business overseas

Paying GST for business overseas

Are you doing business overseas? October 1, 2016 saw new changes to Australian GST law, meaning that you are no longer required to pay GST on certain transactions between your business and businesses overseas. These new changes have also introduced a reduction to...
Claiming car expenses for your tax return

Claiming car expenses for your tax return

The use of a car that you owned, leased, or hired in the year can be claimed if you used it for any work related purposes. Even if the car is not registered in your name, private arrangements can be taken into account. If the car was used as your own and you paid for...
What do you need for your tax appointment?

What do you need for your tax appointment?

Being prepared for your tax appointment will save a lot of time and energy for you and your accountant. Having all the right information and documents will also mean you can claim the best tax refund possible. But what is the right information? If you are a new client...
9 tips for SBE on Immediate asset deductions

9 tips for SBE on Immediate asset deductions

On the 12 May 2015 at 7.30pm the Government announced that it was introducing new accelerated depreciation rules for small Business entities (SBE). The rule originally allowed any asset purchased for less than $1,000 to be immediately written off. Under the new rules...