An update from the Team In light of Premier Mark McGowan’s press briefing yesterday, please be advised that our office will be closed to the public from today, Monday the 1st of February until Friday the 5th of February 2021, inclusive. The Team and I will all be working from home and contactable by telephone…
Continue reading Perth’s Coronavirus Lockdown: an update from Up-To-Date
As Perth is currently experiencing some of its lowest residential vacancy rates in almost 10 years, we thought the time was right to talk about rental properties and what you should know as a landlord, including: what you can and can’t claim as rental deductions; the difference between rent and board; negative gearing; why you…
Motor Vehicles You can claim deductions for the use of motor vehicles (including motorcycles) when they’re used for business or work purposes. While your method of deduction will vary depending on your unique circumstances, regardless of how you claim, it’s important to distinguish the applicable work/business-related portion from any personal/private use, and stay on top…
What would happen if you no longer had control of your company? It’s a sombre thought, but a reality: if you or your partner are a director of a company and happen to become incapacitated or die without company resolutions or a properly drafted will in place, you could lose control of your company and…
Continue reading Successor Directors: a key player in estate planning and asset protection
JobMaker Deadline Looms JobMaker enrolments opened on Monday the 7th of December and because of the tight turnaround times, if your business would like to access JobMaker for the first period, it will be important to assess eligibility. Be sure to contact us as soon as possible to get the ball rolling. Wednesday the 6th…
Continue reading 2021: Opportunities and Risks, JobMaker Deadline Looms, Christmas Parties and FBT
With the festive season fast approaching, scam activity is on the rise. Here are a few common ones doing the rounds and how you can keep yourself safe. Hello? This is the ATO… People are receiving calls from fraudsters claiming to be from the Australian Taxation Office, stating that they have not paid enough tax…
Last week, the legislation enabling the JobMaker scheme announced in the 2020-21 Federal Budget passed Parliament. What is JobMaker? JobMaker is a credit available to eligible businesses for the hiring of additional employees. It is an incentive for employers to support wage costs and, unlike JobKeeper, is not passed onto employees. The hiring credit is available for jobs…
With more of us working from home now as part of our ‘new normal’, the ATO is increasingly turning its attention to business expenses and employee deductions. Here’s how to ensure you don’t get caught out. What is a fringe benefit? Really simply, a fringe benefit is an additional ‘payment’ or benefit you receive on…
Josh Frydenberg’s 2020-21 Federal Budget, inevitably shaped in response to the COVID-19 crisis, has revealed some distinct winners and losers. Given the unprecedented events that have unfolded this year, the Australian Government’s 2020-21 Federal Budget was always going to outline a path to economic recovery. Handed down last night, the Budget’s key initiatives include: Personal income tax cuts from…