The FBT year is fast coming to a close, so a run-down on the basics seems warranted. And remember, the FBT rate goes up on April 1. Also looming on the horizon is the July 1 deadline for all businesses (not just those with more than 20 staff) to adapt their systems to be SuperStream […]
Different areas of the nation have already experienced bushfire, and summer hasn’t finished with us yet. With natural disasters like fires and floods, the last thing anyone affected needs is problems with the Tax Office. There have therefore been put in place some protocols to help taxpayers through such difficult times. With SMSFs continuing to […]
With the rate for FBT set to go above the highest marginal rate from next April, business owners may want to review remuneration packages to ensure arrangements are still beneficial – for both employers and their employees. When family or friends pay nominal amounts to use your holiday house, is this income assessable? We run […]
An allowance for necessary travel made by employees is written into the tax law, which we run an eye over in this issue. But as there are two concessions for travel – the “living away from home” and the “travel” allowances – frequently both employers and employees confuse which is applicable. We spell out the […]
The 2014-2015 Lodgement Rates and Thresholds newsletter helps demonstrate the tax compliance. Should you require more information regarding any topic touched upon in this newsletter, please feel free to contact our office for personal advice. Click to Download De Luca Partners- Federal Budget 2014-2015 Newsletter Disclaimer: All information provided in this newsletter […]
If you are about to set up a website for your business, or are making changes to an existing website, some of the costs incurred from doing so may be available to either write off immediately or depreciate over a number of years. How these expenses are treated for tax purposes depends on certain factors. […]
Packaging a vehicle into a remuneration arrangement via a novated lease is a popular salary option – we run over the details of how this is achieved and the outcomes for both employer and employee. The tax concessions that have been made available to small businesses can be a valuable boost to the bottom line […]
A vindication for your making the sensible decision to seek out professional advice can be to find that the costs of doing so are deemed tax deductible. While the deduction rules for professional consultation on tax affairs are typically straightforward, when it comes to investment advice there are certain differences in regulations you should be […]
Project Do It The Australian Taxation Office is providing an amnesty until the 19th December 2014 for Taxpayers with foreign income and assets who may have omitted this information from previous tax returns . Please click to read more information from the Australian Taxation Office ATO-Project Do It Disclaimer: All information provided is […]
Many of you will have at least heard of Bitcoin, and some may have even used the new digital currency. Bitcoin looks set to revolutionise monetary transactions, and perhaps sooner than many imagine. The virtual currency even has the attention of the Tax Office. We examine the ramifications, and the pros and cons, of Bitcoin […]
With the imminent arrival of the new financial year, there are usually a few small changes in the tax system to get used to, but this year is an exception. We sketch out the post-July 1 tax and super landscape, but also list the government announcements from the Federal Budget that may also prompt a […]
The Federal Budget handed down on Tuesday evening of May 13 seemed to re-emphasis Treasurer Joe Hockey’s narrative pursued in the lead-up to budget night – that tough decisions would have to be made, and that due to the state of the economy we would all be expected to do some of the “heavy lifting”. […]