A non-commercial business loss is a loss you incur, either as a sole trader or in partnership, from a business activity unrelated to your primary...
Offsetting Business Losses In The Current Year
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Tax Treatment Of Common Fringe Benefits In A Business
As a part of your employees’ employment contracts, do they receive benefits such as a car space, gym membership or even a car to drive? These are...
When Is Income Recognised?
Arthur Murray Dance School was a landmark decision regarding tax precedent, which affects how pre-paid income derived from a contract is taxed when...
SAVINGS THROUGH EXEMPTION: PLUG-IN HYBRID ELECTRIC VEHICLES PROVE CHEAPER TO OWN AND MAINTAIN
With the passing of the Electric Car Discount Bill 2022 in December 2022, electric vehicles with a value of less than $84,916 (and first held for...
The A To Z Of Why Paying Tax Is Important
The truth is, we all despise paying taxes. Some people will even go to great lengths to avoid it. After all, if you earn $200,000 for the year and...
Warning Signs Of A Tax Scam
Scammers are constantly looking for new and subversive ways to trick people into giving them their money. Impersonating trusted organisations has...
What To Do If You Lose Your Tax File Number
Your tax file number (TFN) is an incredibly important piece of information in your possession and should be a constant companion throughout your...
What Kind Of Legal Expenses Are Tax Deductible?
Claiming a legal expense as a tax deduction differs on whether or not you are a business or an individual. When a legal expense is incurred...
STP PHASE 2 – ACTION NOW
Under STP Phase 2, the Australian Government requires all employers to report additional information through STP on or before each payday. This...
PAYG Withholding Or PAYG Instalments?
As a taxpayer, you may have come across the term pay-as-you-go (PAYG). PAYG is generally a good thing, but there can be confusion between PAYG...