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Tax Incentives in response to Coronavirus

17 Mar

The Australian Federal Government has announced an economic stimulus package in response to the Coronavirus which includes tax relief for small businesses and employers.  The main measures that will be administered by the ATO are cash flow assistance for employers, increased instant asset write-off thresholds and accelerated depreciation deductions.  The Government will also provide a […]

Can you claim travel to your investment property as a tax deduction?

25 May
investment property tax deductions travel expenses

TRAVEL EXPENSES AND PROPERTY INVESTMENT TAX DEDUCTIONS. From 1 July 2017, property owners cannot deduct an outgoing for travel related expenditure to the extent that it relates to residential property/premises. Therefore airfares, accommodation and motor vehicle expenses incurred to travel to a residential rental property for inspection and/or maintenance purposes will no longer be tax […]

Recovery of HELP debts from non-residents living overseas

10 Nov
help higher loan repayment program advice

THE AUSTRALIAN HIGHER EDUCATION LOAN PROGRAM (HELP). From 1 July 2017 the Australian Government has introduced new repayment obligations for Australians living overseas who have an outstanding Higher Education Loan Program (HELP) debt. This will bring the repayment obligations in line with those with HELP debts living in Australia.   Until now, people with a HELP […]

Small business accounting : Simpler BAS from 1 July 2017

04 Jul
tax return bas preparation noosa

SMALL BUSINESS ACCOUNTANTS & BAS PREPARATION NOOSA. From 1 July 2017, the ATO are reducing the amount of information required to report on Business Activity Statements for small businesses. Aptly named ‘Simpler BAS’ will be the default GST reporting method for small businesses with a GST turnover of less than $10 million. What small businesses […]

2016 Federal Budget update

04 May

The Federal Government handed down the 2016-2017 Budget on 3 May 2016. It is important to remember that these announcements are only proposals at this stage.  Each proposal will need to pass through both the House of Representatives and the Senate before they become law.  This process may take weeks or even months, and some […]

The Reserve Bank of Australia has again decided to leave the official cash rate at 2.00%.

03 Feb

The Reserve Bank of Australia has again decided to leave the official cash rate at 2.00%. This approach was predicted by many commentators as the Reserve Bank assesses the impact of the lower Australian dollar, falling fuel prices, a volatile share market and a slowing housing market. The lower Australian dollar and resultant increase in […]