‘Tax’ Category:
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Limit on a deduction for the decline in value of second-hand depreciating assets
If you use second-hand assets to earn rental income from your residential rental property, you cannot claim a deduction for their decline in value unless: you are using the rental property in carrying on a business (including a business of…
The 2021-22 Federal Budget: The Balancing Act
The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing…
Primary Producers – 2021 Year End Tax Planning Series
As we move towards the end of the 2021 financial year, it is a good idea to start considering what tax planning strategies to put in place now to minimise your tax liability. In the last part of this eight-part…
Individuals – 2021 Year End Tax Planning Series
As we move towards the end of the 2021 financial year, it is a good idea to start considering what tax planning strategies to put in place now to minimise your tax liability. In the seventh part of this eight-part…
Trusts – 2021 Year End Tax Planning Series
As we move towards the end of the 2021 financial year, it is a good idea to start considering what tax planning strategies to put in place now to minimise your tax liability. In the sixth part of this eight-part…
Luxury Car Tax Changes
There have been recent changes made to the Luxury Car Tax (LCT) that affect all luxury cars in Australia. LCT is an additional tax and charged at a rate of 33% on top of the cars retail price once it…
Companies – 2021 Year End Tax Planning Series
As we move towards the end of the 2021 financial year, it is a good idea to start considering what tax planning strategies to put in place now to minimise your tax liability. In the fifth part of this eight-part…
Fixed Assets – 2021 Year End Tax Planning Series
As we move towards the end of the 2021 financial year, it is a good idea to start considering what tax planning strategies to put in place now to minimise your tax liability. In the fourth part of this eight-part…
Superannuation – 2021 Year End Tax Planning Series
As we move towards the end of the 2021 financial year, it is a good idea to start considering what tax planning strategies to put in place now to minimise your tax liability. In the third part of this eight-part…
Employers – 2021 Year End Tax Planning Series
As we move towards the end of the 2021 financial year, it is a good idea to start considering what tax planning strategies to put in place now to minimise your tax liability. In the second part of this eight-part…
