• Newsletter De Luca Partners- June 2016

    Even though the current financial year is winding up, don’t assume that your 2015-16 tax outcome is set in concrete just yet — there are still some legitimate tax planning strategies that can help us help you not pay a cent more tax than you have to. In the same vein, we also list the […]

  • Newsletter De Luca Partners- May 2016

    This year’s federal budget has a few sweeteners, but not so much that will turn anyone hyperactive. The welcome news is that the turnover threshold for classifying a “small business entity” will increase from $2 million to $10 million. The devil however is in the detail. Disappointingly, the current $2 million turnover threshold will be […]

  • Newsletter De Luca Partners- April 2016

    While your business might own some tempting assets, be careful when making use of these for your personal enjoyment, as this could trigger a tax liability. And if you are considering changing the structure of your small business, a new measure means you might in certain instances no longer trigger CGT. SMSF trustees note; it […]

  • Newsletter De Luca Partners- February 2016

    Claims for vehicle use remain one of the most popular for a huge number of taxpayers, but recent tweaks to both the compliance regime and the provisions for making such claims means that correct record keeping is essential. And as doing business online is becoming even more pervasive, it’s just as well the Tax Office […]

  • Newsletter De Luca Partners- December 2015

    If you are building a new home or repairing an old one, there is a concession that allows you to extend the period when you are able to claim the main residence CGT exemption, even if you are not living in that dwelling, if circumstances are right. And as there still seems to be lingering […]

  • Newsletter De Luca Partners- November 2015

    Everyone likes end-of-year Christmas parties, but there’s no reason to rack-up a tax bill while celebrating. We list five tips to keep the fun tax-free. And while getting a valuation is sometimes necessary, you need to make sure there are no negative tax outcomes. Like everyone, company directors have responsibilities. The potential problem for directors […]

  • Newsletter De Luca Partners- October 2015

    If you haven’t heard of the “sharing economy” yet, it could be time to start to get familiar with this “new way of connecting buyers (users) with sellers (providers)”. Services like Uber, Airbnb, AirTasker and MenuLog are all in the Tax Office’s sights to ensure these new forms of business pay their full share of […]

  • Newsletter De Luca Partners- September 2015

    Thousands of Australians head offshore each year to expand their horizons and a lucky few will fund their adventure by working overseas. There are however important tax considerations. We run through the dangers. If we have already lodged your tax return but you’ve discovered an extra deduction you could have claimed, or became aware of […]

  • Newsletter De Luca Partners- August 2015

    Up until this year, the Tax Office’s compliance focus has tended, in part, to look at certain professions for problems or mistakes made by taxpayers, but a change of tactic this Tax Time sees it focus instead on particular expense claims. We run through the work-related expenses at the top of the Tax Office hit […]

  • Newsletter De Luca Partners- July 2015

    Although a very welcome announcement from the last federal budget, the $20,000 immediate asset write-off sparked a lot of questions about its implementation and eligibility requirements. We answer all your pressing inquiries. Also covered are tax deductions that are generally not allowed, claims you may be able to make if you’re lucky enough to own […]

  • Newsletter De Luca Partners- June 2015 and End of year planning

    The 2014-15 financial year is drawing to a close, and tax preparation is once again the golden phrase. To assist you in the confusing end-of-financial-year period, we’ve prepared a series of tax checklists that will put you on the right track and point out your obligations. You’ll also find a wealth of tips and strategies […]

  • Newsletter De Luca Partners- Federal Budget 2015

    This year’s federal budget in many ways lived up to its hype. It was mostly a dull and boring affair – but there were some surprises. Small business owners have plenty to smile about. The 1.5% tax rate cut has been confirmed, but it’s also been extended to unincorporated small businesses to the tune of […]