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Year End Tax Planning 2021 – Personal

tax savings

With the end of the tax year approaching , now is the time to see what you can do to minimise your tax for 2021. This would mean more money in your pocket for you and your family to enjoy and put some fun back into the tough year it has been. To minimise your Business tax click here. Personal Tax Home Office Expenses during Covid-19 If you worked at…

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Year End Tax Planning 2021 – Business

With the end of the tax year approaching, now is the time to see what you can do to minimise your tax for 2021. This would mean more money in your pocket for you and your family to enjoy and put some fun back into the tough year it has been. To minimise your Personal tax click here. Business Tax Temporary Full Expensing Businesses with an aggregated turnover of less…

Budget 2022 – Simplify, Grow and Develop Computer Games

Capitalism or socialism, that is the question. The Federal Government has released the budget for 2022 and it is a very socialist focussed budget in a way. As capitalism is what grows economies and the wealth of nations, the government has applied the correct balance of the two systems. As the country is in trouble because of Covid, it has come to the rescue with a safety net. Read below…

Boosted Immediate Asset Write-Off – Update

In March 2020, the Government increased the value that a business could instantly write off  a business asset to $150,000 from $30,000 as part of it’s response to Covid -19. The business needed to have a turnover of less than $10 Million.   Currently the Government has boosted this scheme and says there is now no limit on asset value if the turnover is less than $5 billion. From 6…

Budget 20/21

This budget known as the Covid  Recovery budget will hopefully  get us back to where we were prior to Covid. The major policies include Personal Income Tax reductions, Small Business Tax reductions, Company Tax reductions, Job creation strategies and Large Government spending. Here is a summary of some of the main aspects and you can read further detail below.                       Reduction…

The Benefits of a Negatively Geared Property

As the first quarter of the 2021 tax year has just finished it is now a good time to do some tax planning. As long as your situation is suitable, one way to increase your wealth and benefit from tax regulation is to purchase an investment property.   I suggest you speak to your financial planner and discuss whether you would benefit from this wealth creation strategy. In this blog I…