Category Archives: De Luca Partners News

  • Newsletter De Luca Partners – September 2018

    There’s a new option in place for self employed Australians to be better able to save for retirement, but another change to the superannuation rules (in the SMSF arena) could lessen the appeal of borrowing to invest. We look at a GST apportioning option to cover private use, and also the compliance steps that may […]

  • Newsletter De Luca Partners – 2018-19 Rates and Thresholds

    The 2018-2019 Lodgement Rates and Thresholds newsletter helps to save you from searching endlessly to find the right tax rate or relevant threshold this tax time, with all the relevant information right here in one place. This guide inluces tax rates, offset limits and benchmarks, rebate levels, allowances, and essential super, as well as FBT […]

  • Newsletter De Luca Partners – August 2018

    They say that education comes with a cost, but that ignorance can cost you more. Self education is certainly worthwhile considering, especially as there can be tax breaks for the right sort of training. SMSF trustees are generally family or friends, but that doesn’t mean there won’t be arguments along the way to greater wealth, […]

  • Newsletter De Luca Partners – July 2018

    Not every retiree has heard of the government’s Pension Loan Scheme, but it’s about time more people did. And with Tax Time now upon us, we run over some tips for your tax return. An integrity measure that businesses need to keep a close eye on, called Division 7A, is given the once over, as […]

  • Newsletter De Luca Partners – June 2018

    It’s not uncommon for taxpayers to be in dispute with the ATO from time to time, and although the Tax Commissioner may seem invincible, this is not always the case. We look at the best approach to better your outcome. At some stage, SMSF trustees will need to get their heads around the proportioning rule, […]

  • Newsletter De Luca Partners – 2018/19 Budget Edition

    Undoubtedly the headline item from tonight is tax relief for individuals by lifting the 32.5% tax bracket to $90,000 from 1 July 2018 and the Government’s announcement of its intention abolish the 37% tax bracket in 2024-25. In the 2022-23 financial year we will also see the Low Income Tax Offset increased to $645 and […]

  • Newsletter De Luca Partners – May 2018

    Interest expenses on money borrowed to buy business assets can be deductible. However there are also circumstances, allowed under tax law, where deductions are still available after the relevant asset is disposed of. We run over the details. We also look at the “work test” required for super contributions to be made for those over […]

  • Newsletter De Luca Partners – April 2018

    There’s been a lot of buzz about bitcoin lately, so we thought it timely to run over the ins and outs of cryptocurrencies. Another phenomenon of the modern marketplace is the sharing economy, but care needs to be taken when dealing with businesses carried on via sharing platforms to ensure there are no hidden tax […]

  • Newsletter De Luca Partners – March 2018

    There’s a hidden danger lurking within the FBT rules that business owners should keep an eye on. Where a third party supplier is generous enough to include your employees, there’s a very real possibility that this could trigger a tax liability for that business. We run over this and other quirks of the FBT regime. […]

  • Single Touch Payroll (STP) Commences 1st July 2018

    SINGLE TOUCH PAYROLL: NEW PAYROLL REPORTING REQUIREMENTS EFFECTIVE 1st JULY 2018 The ATO are changing the way employers report tax and super information to them. Therefore employers will need to start using what is referred to as “Single Touch Payroll”.   If you have 20 or more employees: Single Touch Payroll is mandatory for employers with […]

  • Newsletter De Luca Partners – February 2018

    For a business owner, the issue of bad debts can be bittersweet — yes you’ve missed out on revenue, but at least there’s some tax relief. We look at the conditions necessary to access such consolation. On another financing matter, we touch on the particular considerations necessary when refinancing a partnership. Property investors have recently […]

  • Newsletter De Luca Partners – December 2017

    Recent legislative changes mean that SMSF trustees need more than ever to stay aware of the value of assets, and makes the forced unwinding of an LRBA a more real possibility for many. We run over the practical aspects. We also look at the top 10 tax mistakes that rental property owners can make, pick […]