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The approach to tax when you’re working from home

If you produce assessable income at home, or some of it, and you incur expenses from using that home as your “office” or “workshop”, the ATO will generally allow that a taxpayer could be in a position to be able to claim some expenses…
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Incoming tax changes for SMEs in 2020

Small businesses are being urged to keep abreast of some key tax changes coming in 2020, with an accounting body warning they “can have a big impact on the way you run your business”. According to Susan Franks, senior tax advocate at…
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Eleven Financial Fundamentals Every Small Business CEO Must Know

Regardless of the size of the business, the ultimate responsibility for success lies with the CEO. If you're a small business owner, that's you. And the most critical CEO tasks that result in success or failure lie in the knowledge and practice…
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Six things to do now to make tax time 2020 a little less taxing

New decade, new me? We’re more than two weeks into the New Year now and the countdown clock to tax time 2020 has already started ticking. It’s going to be a big year for SMEs in the tax domain, with some changes on the cards heading…
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CGT concessions: Does your business qualify?

Wondering if you’re eligible to claim the CGT concessions can be settled by answering a few basic questions. In addition to the capital gains tax (CGT) exemptions and rollovers available more widely, there are four additional concessions…
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Do you hire contractors?

When hiring workers, do you understand the difference between contractors and employees for tax and super purposes? Getting it wrong compromises your ability to meet their tax and super obligations, and can mean workers miss out on employee…

Fringe benefits tax and Christmas parties

Christmas parties There is no separate fringe benefits tax (FBT) category for Christmas parties and you may encounter many different circumstances when providing these events to your staff. Fringe benefits provided by you, an associate,…

Property development and tax

The ATO seems to be always looking over the shoulder of property developers to make sure they are complying with their tax obligations. The considerations facing the ATO are many and varied, but can include topics such as whether an agreement…