Div 293 Tax – A Surprise Tax for High Income Earners It is generally understood that Australian taxpayers pay Income Tax based on their Taxable Income. What is less understood are the many additional taxes that high income earners pay. One of those additional charges is...
Before we get started let me say two things: Dave is not a real client. He could be, but he is a combination of several clients and our experiences with their business and their lives. Take advice early. It needn't cost anything and...
As a rule, travel from your home to your workplace is not allowed as a tax deduction because it constitutes a “private expense”. There are some specific situations when you may be entitled to claim the cost of that travel though. One of those exceptions...
Another question from the common questions file. Our short answer is: Repairs and Maintenance are generally defined as a cost that repairs or replaces an existing item. That means if you replace an appliance with another comparable appliance then it will generally be Repairs & Maintenance, even...
We Know You're Busy so Here's the Short Story Because This is Important We have noticed a marked increase in the ATO's audit activity of employer super obligations and some of our clients have been stung with excessive interest charges (we feel quite unfairly at times)....
There seems to be a general misconception around that tax deductions related to the costs of holding vacant land upon which to build a rental property have been removed. "Deductions for vacant land are still available if you buy vacant land with the intent to build a rental...
With over 100 years combined experience dealing with accounting, business, and tax our team here at Grow have seen many successful (and unfortunately many not so successful business sales). The following top 4 tips are what we have observed as being the difference between achieving...
We Know You Don’t Really Need Our Advice – but… This blog is summarised with this one simple request. Please call us as early as possible if you are considering buying a business. A quick no obligation chat might just end up saving you a lot of...
Back in May 2017 we posted an article about how Australia was going to support local businesses by charging GST on imported goods (CLICK HERE for ths post). Now New Zealand is planning to do the same thing. "So what?", we hear you say. If you sell...