It’s that time of year again – what to do for the Christmas party for the team, customer gifts, gifts of appreciation for your favourite accountant (just kidding), etc., etc. Here are our top tips for a generous and tax effective Christmas season: (more…)
The thought of the Australian Tax Office (ATO) sharing up to 50% of any gain you make on an investment decision is enough to strike fear into the hearts of most people. Given Australia’s love affair with property, it is little wonder that we are often asked about the impact of capital gains tax (CGT) on property. This month, we explore the most frequently asked questions. (more…)
There has been a lot of negative conversation about negative gearing lately. But, if you are currently negative gearing your investment property, should you be concerned?
Negative gearing is when you claim more in deductions than you earn for an income producing asset that you have purchased using debt. It is not limited to property, you can for example negatively gear shares, but property is the dominant negatively geared asset claimed by Australians.
From 1 July 2015, ESS changes allow taxing points to be deferred and introduce a significant new concession for “start-up” companies.
The maximum period of tax deferral increases from 7 years to 15 years. The deferred taxing point for options (and for other rights, such as performance rights) effectively moves from vesting of the options to the exercise date of the options.
The end of the financial year is almost here again. We try to plan to reduce tax all year long, however 30 June presents us with some opportunities and it’s a critical deadline to make sure we minimise tax for the year.
There are some key opportunities to make sure you don’t miss out.
Consider two hypothetical residential aged care facilities. Save for the following distinctions, all other operational costs and revenues are the same.
Facility 1 is a not-for-profit that is heavily reliant on donations to supplement its income and takes in exclusively supported residents.
