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Posts Tagged ‘taxation’
Personal income tax rates for Australian residents (2018-2019)
August 2nd, 2018There were some changes to personal income tax rates and thresholds in the 2018-2019 Federal Budget compared to 2017-2018. Notably, the old $87,000 tax threshold has been increased to $90,000; while the amount of tax on incomes for the highest two brackets have changed slightly. See the personal income tax rate tables below. [table id=4read more
Interdependent Relationships in Estate Planning
July 31st, 2018Protecting family estates from hefty tax bills can be challenging, however there are little known concessions that can save beneficiaries tens of thousands of dollars in liability. Many people make the mistake of not fully accounting for the relationship between superannuation and estate planning when drafting their wills. Estates with large payments from a superannuationread more
Fresh Tax Ruling for Truckies’ Food Allowances
January 25th, 2018Backflip for Truckies’ Food Allowances... The Australian Taxation Office has recently reversed a decision made regarding “reasonable rates” for overtime meal allowances. Rulings in this area typically affect people in jobs such as long-haul truck driving, but applies to everyone who receives a bona fide travel or meal allowance in the course of travelling overnightread more
Tax Deductions for Investment Properties
June 15th, 2017Several deductions are available to property investors to minimise the tax being paid. Unfortunately, there are areas relating to tax deductions that are unclear to some individuals, resulting in opportunities being missed to get the most out of their investments. To help identify what you can legitimately claim, below is a list of common taxread more
5 Reasons Why You Need an Accountant for Your Business
July 6th, 2016Entrepreneurs are often lauded for their "jack-of-all-trades" approach to starting their business - doing what they can themselves in the early stages to keep costs down and stamp their mark on their new business venture. One service in particular that is overlooked, however, is that of an accountant. Aside from needing someone to take careread more
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