With COVID-19 sending the world home into lockdown, home offices have been given a new meaning, (in all matters of the word). Whether you’ve had to turn your couch into an office and your kitchen table into a ‘meetings only zone’, it seems the government...
As usual, it’s time to organise your EOFY tax return, but it might be different this year. That’s because the ATO is now using cryptocurrency data matching to identify false tax deductions. While they are still keeping an eye on work-related expenses and asset write-offs,...
With the end of the financial year looming rapidly, it’s time to organise all your invoices so you can make the correct tax deductions in your tax return. However, knowing what and what you can’t claim as deductions can be a challenge, so here is...
Thinking Ahead: Ensure Your Assets Are Protected! A self-managed super fund (SMSF) is a private superannuation fund that is run by an individual or appointed trustee. A SMSF is often more suitable for individuals who have larger supers, a breadth of knowledge in finance and extensive...
On October 22nd, 2018, the Australian Government released a document proposing the implementation and amendments to improve the integrity and operation of Division 7A. This was in response to the Government’s investigation for improvements to the Income Tax Assessment Act 1936.Division 7A BackgroundIf you’re a...
The Australian Parliament has recently passed new legislation to fast-track the reduction of corporate taxes from 27.5% to 25% within the next five years. The new ‘Treasury Laws Amendment Bill 2018" is estimated to provide tax relief for around 3.3 million small to medium-sized businesses....
Queensland and New South Wales farmers are suffering through another severe and long drought. Did you know there are special government payment plans that can be utilised to ease the stress of tax reporting? Continue reading if you would like to know of these payment...
At Conrad Carlile, we think it is important for everyone to understand how the budget affects you. There are so many aspects that aren’t important, but how does it affect the small business owner from a wealth management perspective? We’ve written up a few of...
For many small businesses, if you aren’t giving yourself time to prepare for potential opportunities and/or issues, then you won’t be able to jump to action to resolve them when the time comes. As the old saying goes, “failing to plan is planning to fail”....
When staring a new business, one of the biggest and most crucial decisions you will make is the business structure. The type of structure you set up for your business can depend on several factors, including the size of the business, employee requirements, market and...