Just a few smart things can save you a lot of tax. Legitimately!
1. Instant Asset Write Off
Yes, it is still available, and the amount has increased from $20,000 to $30,000, plus it is now available for businesses with turnover up to $50 million … Read more
Tax Unplugged – March 2024
a. Tax Cuts.
Yes please! As from 1 July 2024, the new tax rates commence as follows:
2023 Income Range
Old 2023 Rate
2024 Income Range
New 2024 Rate
From
To
From
To
0
$18,200
nil
0
$18,200
nil
$18,201
$45,000
19 … Read more
New “30% Tax” on super? New strategies may arise.
The media has called the forthcoming (but still not finalised) tax on super balances over $3 million as a 30% tax. In fact, it is two taxes of 15% that work differently.
For those 85,000 or so taxpayers who are fortunate enough to have their … Read more
The best tax break in years? Just maybe!
Fringe Benefits Tax squashed the excesses of the 1980s.
Business owners once buried the costs of their big lunches, expense accounts, holidays, and private motor vehicle costs into the costs of their business. Those expenses were all pre-tax … Read more
