1. Tax Trap ... whoops.
When a taxpayer borrows money for the purposes of acquiring an investment, such as a rental property, a business, a share portfolio or an income generating capital asset, the interest expense associated with the investment … Read more
2024 Tax Planning Checklist
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
