Last chance for $20,000 deduction for Small Business

As the end of the financial year fast approaches, it is important to be aware of changes happening at the end of this financial year.  The ‘limited time offer’ $20,000 instant deduction for small business entities will be coming to an end on 30 June 2017. This immediate tax deduction means that businesses with a…

Happy Trails: Work-Related Travel Expenses

Claiming Work-Related Travel Tax Deductions The three expense areas that can be claimed as tax deductions for work-related travel are: transport; meals; and accommodation. Specifically, these can include: public transport costs, including taxi and air travel fares; bridge and road tolls, parking fees and short-term car hire costs; meals and accommodation expenses while staying overnight…

Small Business Directors’ Guide

The ASIC Guide for Small Business Directors: Topics and Key Points Small business owners need to understand what being a director of a small business company entails. To help small businesses, the Australian Securities and Investments Commission (ASIC) has developed a guide setting out the role and responsibilities of company directors. The guide is particularly…

Aussie Online Business and Offshore Tax

Impact of Australian Online Businesses to Offshore Income Tax As online shopping is becoming increasingly more common and widely used, we have noticed more of our clients becoming involved in online business sales.  The following article goes into greater depth about offshore income tax ramifications. With online shopping becoming the norm and promising strong growth…