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Federal Budget: Updates On The Temporary Full-Expensing Measures
Federal Budget: Updates On The Temporary Full-Expensing Measures
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Tax Tip: Keep A Motor Vehicle Logbook
Tax Tip: Keep A Motor Vehicle Logbook
There used to be four ways to claim vehicles, but now there's only two ways to claim vehicles as a business:
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Federal Budget: Important Changes To The Child Care Rebate Cap
Federal Budget: Important Changes To The Child Care Rebate Cap
Couples or as a household who earn over $189,000 combined receive a childcare rebate of $10,560 per child. This is relatively easy to do when you've got a profitable business, and you might be distributing $100,000 each, you're already over that...
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Tax Tip: Ensure Family Members Are In The Same Tax Bracket
Tax Tip: Ensure Family Members Are In The Same Tax Bracket
This tax tip actually assumes that you're using a trust, a discretionary trust maybe, or a company that might be owned by a trust to be able to distribute some dividends around and be able to have the flexibility to distribute to different family...
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Federal Budget: This Superannuation Change Is Pretty Amazing
Federal Budget: This Superannuation Change Is Pretty Amazing
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Federal Budget: Super Limits Are Changing
Federal Budget: Super Limits Are Changing
This was announced before the Federal Budget. Essentially, there's some exciting news about super contribution limits. Prior to 1st of July, 2021 (this finance year we're in), you can contribute $25,000 maximum concessional contribution, which is...
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Tax Tip: Establish An SMSF
Tax Tip: Establish An SMSF
This tax tip is about establishing a SMSF, or self-managed super fund. I'm not going to give you advice whether you should do this from a personal perspective, but I’ll just outline some tax saving tips that you can actually do if you have a...
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Tax Tip: Prepaying Expenses
Tax Tip: Prepaying Expenses
As a small business in Australia, there's a special rule around prepayment of expenses - what you're able to do is claim up to 12 months' worth of prepayments.
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What's A Good Rainy Day Number To Have?
What's A Good Rainy Day Number To Have?
In terms of setting your businesses Rainy Day Number - anything is better than nothing. But if I was to give any business a target, it is three months worth of expenses to run your business. That means that if you couldn't sell anything for three...
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Tax Tip: Repairs And Maintenance
Tax Tip: Repairs And Maintenance
When you're running a business, sometimes things break or need repair, and you have to go and fix the printer, or a piece of machinery that might be busted in the warehouse - what this tax tip suggests is that if you need some repairs or maintenance...
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