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16 Individual Tax Deductions Most People Don’t Know About

16 Individual Tax Deductions Most People Don’t Know About

Doing up your tax deductions every financial year-end can be a real hustle. Most people try their best to claim as many legitimate tax deductions as possible to reduce that dreadful tax bill of theirs. While travel expenses and charitable donations are the few known deductions, there are many bonus deductions that can be claimed. There is an extensive variation of services and products that you are legally entitled to claim as a tax deduction, as long as it is related to earn

Business taxation changes

Business taxation changes

Lately, the number of small businesses have been on the rise. Thus, the legislation regarding small businesses has been changing to better suit these businesses. Effective from 1 July 2016, the few key changes that benefit small businesses are: lower company tax rate changes instant asset write-off on depreciation expanded access to small businesses concessions increased small business income tax offset 1. Lower Company Tax Rate Changes Firstly, for 2016-2017 income year, com

Musical industry: Planning your tax

Musical industry: Planning your tax

Musicians frequently face challenging financial times with fluctuating sources of income. Generally to begin with we should say that if you are willing to do the reading and alike to understand the rules and legislation around your tax, there is no requirement to use an accountant/registered tax agent. However this doesn't mean that you will maximise your claimable tax return or avoid trouble for ensuring an accurate report. Kicking off: Business Structure If you are intendin

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Fact, Fiction or Half Truth: Can a tax reduction for business give an incentive to employ more?

Fact, Fiction or Half Truth: Can a tax reduction for business give an incentive to employ more?

Budget Forecasting: A pivot point for Start-up and Small Businesses

Budget Forecasting: A pivot point for Start-up and Small Businesses

Business Structure: Start-up Businesses & Restructuring

Business Structure: Start-up Businesses & Restructuring

Common Office Claims

Common Office Claims

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