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When Is Self-Education Deductible?
If you have been thinking about taking a course or about studying further and want to claim it back on your tax return, take a moment to read this article before going ahead. Self-education is an area of the individual income tax return that can get many people into...
Tax Deductions Every Doctor Should Be Claiming
Doctors are among some of the highest-earning professionals in Australia - and we all know the higher the income, the higher the marginal tax rate. What you may not be aware of is that, as a medical professional, you’re actually eligible for a fairly long list of...
BENEFITS OF AN INVESTMENT PLAN TO AVOID BEHAVIOURAL TRAPS
Investors often exhibit irrational behaviours that can impact badly on investment outcomes. These behaviours can arise due to a variety of factors including: Emotional influences – such as fear, greed and herd mentality. Cognitive bias – such as confirmation bias...
WHY PROPER SUCCESSION PLANNING IS CRUCIAL FOR SMSF MEMBERS
For members of self-managed superannuation funds (SMSFs) in Australia, preparing for loss of capacity or death is crucial. One important consideration is ensuring that the SMSF's trust deed is well-constructed. With over 600,000 SMSFs managing almost $900 billion of...
How To Create A Budget For Your Medical Supplies
Whether you operate a day hospital or a small practitioner’s clinic, a strict budget is essential for success and profitability. Any amount saved can provide financial flexibility for your practice. This may in turn allow you to purchase new medical equipment, hire...
Overclaiming Holiday Home Deductions
The Australian Taxation Office is warning those with holiday homes to be wary of what they claim (and specifically when for) regarding their properties this year. You may need to be prepared to answer questions such as: How many days was it rented out, and was the...
Superannuation & The Budget: What’s New
Though most of the changes to superannuation discussed during the Federal Budget had been previously announced, they are still important to keep in mind when planning your superannuation strategy for the year to come. As announced in March 2023, extra tax will need to...
Concerned About Your Student Debt?
With a forecast interest rate increase of 7.1% to balloon HECS & HELP loans this July, many are concerned about what that could mean for their student loan balances. HELP debts are indexed annually to maintain their real value by adjusting them in line with...
EOFY TAX PLANNING TIPS
TOP UP YOUR SUPERANNUATION – NOW Have you considered making extra tax-deductible super contribution before 30 June 2023? Deductible super contributions have the double barrel advantage in that they can help reduce your tax bill while increasing your wealth. While the...
2023 05 BUDGET BLOG
Welcome to Curve's monthly newsletter, keeping you up to date with our news, views and more. On May 9, 2023, the Federal Budget was unveiled, revealing several noteworthy changes affecting businesses, taxes, and superannuation. Please see our Budget summary below and...
How To Create A Budget For Your Medical Supplies
Whether you operate a day hospital or a small practitioner’s clinic, a strict budget is essential for success and profitability. Any amount saved can provide financial flexibility for your practice. This may in turn allow you to purchase new medical equipment, hire...
Overclaiming Holiday Home Deductions
The Australian Taxation Office is warning those with holiday homes to be wary of what they claim (and specifically when for) regarding their properties this year. You may need to be prepared to answer questions such as: How many days was it rented out, and was the...
Superannuation & The Budget: What’s New
Though most of the changes to superannuation discussed during the Federal Budget had been previously announced, they are still important to keep in mind when planning your superannuation strategy for the year to come. As announced in March 2023, extra tax will need to...
Concerned About Your Student Debt?
With a forecast interest rate increase of 7.1% to balloon HECS & HELP loans this July, many are concerned about what that could mean for their student loan balances. HELP debts are indexed annually to maintain their real value by adjusting them in line with...
EOFY TAX PLANNING TIPS
TOP UP YOUR SUPERANNUATION – NOW Have you considered making extra tax-deductible super contribution before 30 June 2023? Deductible super contributions have the double barrel advantage in that they can help reduce your tax bill while increasing your wealth. While the...
2023 05 BUDGET BLOG
Welcome to Curve's monthly newsletter, keeping you up to date with our news, views and more. On May 9, 2023, the Federal Budget was unveiled, revealing several noteworthy changes affecting businesses, taxes, and superannuation. Please see our Budget summary below and...
How Do You Use Cryptocurrency?
Cryptocurrency is a speculative asset, prone to market fluctuations and public opinion. Using it for investment purposes is not without risk, and those who choose to do so must also consider the tax implications of their investment. Whether you have made a profit or a...
Offsetting Business Losses In The Current Year
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 source of income. This type of business activity could be a hobby or lifestyle benefit. There are separate non-commercial...
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 what’s known as fringe benefits, which is a ‘payment’ to an employee that takes a different form to salary or wages. This...
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 it straddles several tax years. In Sydney, the Arthur Murray Dance School provided lessons to its clientele after being...
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