Tax Planning: Asset write-off

Tax Planning: Overview

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• business strategy
• tax compliance

Employee or Contractor?

One of the most frequently asked questions I hear from my business clients is: “What is the difference between an employee and a contractor?”. This question...

Improving profitability – Expenses

In previous videos we’ve delved into the three key areas to improving profitability in your business. These three key areas were pointed out to me by my boss...

Improving Profitability: Margins

In this article, we look at margins: the second area to improving profitability. Margin is the profit that you’re making on the products you sell. Everyone is...

Improving profitability through sales

When I first started work I asked my boss “how I can help my customers increase their profitability?”. He told me that “there is three key areas to focus on...

• tax planning
• property tax

Subdivide, develop and then rent or sell … what are the tax implications?

This is a very common question and there are two scenarios at play here: Scenario 1. Subdivide, develop and then rent Let’s say we’ve subdivided the land, and...

What if I subdivide my property and sell the vacant land?

If you were to sell your property which meets the requirements of being your Principal Place of Residence (PPR) as a whole (i.e. before subdivision), then...

Subdividing, building and moving into the new house … what are the tax implications?

I receive a lot of questions from people who are looking at subdividing their property and want to know if there’s going to be any taxation implications. I’ll...

“Where did the profit go?”

As we enter a new financial year and I prepare financial accounts and tax returns for my business clients, a common comment I receive when reviewing their...

Property depreciation and selling a rental property

People sell their rental properties for a variety of reasons. These might include to pay off debt; for retirement savings; the property is too difficult to...

Taxation Planning and Understanding Your Commitments

With 30 June 2020 less than 6 weeks away, now is the perfect time to review your situation and projected tax commitments to make sure that you take advantage...

Jobkeeper Payments – Who are eligible employers?

Following on from our article about Eligible employees, the following information about eligible employers is correct at 20 April, 2020 JobKeeper – Employer...

JobKeeper Information – who are eligible employees?

The ATO is constantly releasing information relating to the JobKeeper package. The following is correct based on the information available as at 20 April,...

JobKeeper - Who are eligible employees?

The ATO is constantly releasing information relating to the JobKeeper package. The following is correct based on the information available as at 20 April,...

The JobKeeper Payment – the Federal Governments next stimulus package

The Australian Government has recently announced their next major stimulus package to help people and the economy through this period. In an effort to...

The Federal Government’s Second Stimulus Package

Sunday night (22 March), the Prime Minister announced the second stimulus package to assist businesses and individuals through the Coronavirus period. The...

Coronavirus – Government support package for business investment

Note: This legislation is yet to pass parliament – therefore this email has been based on the information that the Government has released to date. That being...

Business Owners - Making sure you get paid

A major customer has gone broke and you are left with a large amount of money owed to you that you are not able to collect. The resulting cashflow issues that...

Returning to work after accessing your super

Retirement isn’t necessarily a permanent thing. Even the best-laid plans can need to be adjusted when circumstances change. The Australian Bureau of...

The tax-free property flip myth

I get a lot of questions from people who want to purchase a property, live in it, do it up and sell it at a for a profit and then repeat the process; aka a...

How remembering your ‘why’ can help you plan for a new year

FREEDOM. It’s quite often the number one reason people go into business for themselves. In particular, they are looking for freedom in one or more of three...

The difference between repairs and improvements and what you can claim on your rental property.

Building wealth through owning property is a very common strategy to create long term wealth. According to the ATO there are nearly 2 million individuals that...