by Investment Plus Accounting Group | Jan 29, 2024 | Income Tax, Tax & Accounting, Tax Deductions
If you’re a taxpayer, you will be paying less tax from July. The federal government has committed to shifting tax cuts that were legislated half a decade ago to provide more benefits to low- and middle-income workers. It breaks an election promise not to touch...
by Investment Plus Accounting Group | Nov 14, 2023 | ATO, Income Tax, Tax & Accounting
It’s quite common for people to structure their professional affairs by setting up an entity to run their business through. This could be a trust, a partnership or, most often, a company. Clearly, this could be a very effective way of sheltering profits for a small...
by Investment Plus Accounting Group | Nov 14, 2023 | ATO, Tax & Accounting
You’ve bought the car of your dreams after negotiating the price like a pro. You think you’re done and dusted until you receive the final invoice and it’s not what you expected. There’s an extra amount you have to pay on the car to the Australian Taxation Office (ATO)...
by Investment Plus Accounting Group | Nov 5, 2023 | ATO, Small Business, Small Business Tips, Tax & Accounting
If you operate some or all of your business from home, you may be able to claim tax deductions for the business portion of expenses. These may include: occupancy expenses (such as mortgage interest or rent, council rates, land taxes, house insurance premiums) running...
by Investment Plus Accounting Group | Nov 5, 2023 | ATO, Capital Gains Tax (CGT), Small Business Tips, Tax & Accounting
Did you find working from home during COVID-19 lockdown to be a success? Are you considering giving up your leased commercial business premises to instead run your business from home? This choice may result in the Australian Taxation Office taking a slice of the...
by Investment Plus Accounting Group | Oct 30, 2023 | How To, Investment Property, Property Investment, Property Investment Tips, Property Tax, Tax & Accounting
Like any investment, weighing up when to sell an investment property can be a tricky call to make – mainly because there are so many factors to consider. It all comes down to timing. Sell too early and you could end up missing a property boom, but holding onto a...
