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
Tax tips from Andrea
Awesome Tax Deduction disappears in just 3 months.
We forget that one of the great Covid initiatives was ability to write off 100% of all depreciable capital equipment acquired during the financial year. All in one hit.
Furthermore, if that … Read more
Late Super Payments
This is not a new topic but unfortunately many business owners do not seem to be aware of the serious implications regarding late payments of super.
The rules are tough… and the penalties are way out of proportion.
We had a call from a … Read more
