Category: Tax

Deferring and refunding GST on imported goods

Importing goods and services with extra-added GST costs but not sure how you can apply for refunds or deference? The ATO has outlined a series of steps for all Australian businesses to…

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CGT exemptions have been scrapped. What does that mean for you?

Are you an Australian living or working overseas with a family home in Australia? Or you know someone who is? If so, be sure to consider the impacts of the capital gains…

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What deductions can you claim on your website?

Most businesses nowadays have some sort of website, but designing, creating and maintaining a website for your business can be complicated. Many businesses use website services to develop and design their website…

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Division 7A and expert predictions on the future

Division 7A under Australian legislation is currently concerned with private company benefits given to shareholders which are taxable under the premise of income tax purposes. For two years, the Australian government has…

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What’s tax-deductible for home businesses?

Running your business from home can have great benefits, such as being able to spend more time with your family, not having to travel, and deciding your work hours. To make the…

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Will legislation changes affect the FBT you pay on staff parking?

Employers who provide staff parking spaces may be affected by the rewrite of the car parking fringe benefits Taxation Ruling. A draft ruling TR 2019/D5 was released on 13 November 2019, a…

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Do you have to pay tax on super death benefits?

When someone dies, their superannuation usually gets transferred to their beneficiary as superannuation death benefits. Depending on who the beneficiary is, the benefits may be taxed in some circumstances. If you are…

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Can you claim deductions for employee training?

Employees of a small business may need to develop their expertise or skills in a particular area to better perform their duties. While training courses like seminars and one-day intensives can be…

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Tax implications of leasing commercial premises

Leasing commercial premises, such as an office building, hotels or stores have their own struggles compared to being a residential landlord. Making the correct tax payment and knowing what you can and…

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Restoring damaged tax records after a natural disaster

In the event that your records have been damaged or destroyed in a natural disaster, such as bushfires, there are a number of ways you can reconstruct them. The ATO is able…

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