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…
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…
Welcome to the Small Business Treasure Chest for the last time this 2020 financial year. In our chest, we have some funny deductions that taxpayers tried to claim in their tax returns without much success. Enjoy the laugh! Put a smile on your dial by reading the jewels below. If you have missed our previous Jewels, check them out HERE. LEGO A taxpayer claimed the Lego sets they bought…
Cash Flow, Small Business, Taxation
Welcome to the Small Business Treasure Chest. I have opened the lid of the chest and found another amazing jewel once again to share with you. If you have missed our previous Jewels , check them out HERE. This jewel I have found, is all about Capital Gains Tax and Shares. If you have a Capital Gain in 2020, you can reduce this Gain with a capital loss. Now…
Welcome to the Small Business Treasure Chest. I have looked inside our chest again and found another two amazing super tricks to share with you. Join me over the next few weeks to view other very helpful tips that will help you reduce your Income Tax for 2020. This jewel again involves Superannuation Contributions. How would you like the government to contribute to your super? Sure you would! We all…
Cash Flow, Small Business, Taxation
Welcome to the Small Business Treasure Chest. I have looked inside our chest again and found some amazing jewels to share with you. Join me over the next few weeks to view these very helpful tips that will help you reduce your Income Tax for 2020. The third jewel I have found is all about Superannuation Contributions. The maximum amount a person can contribute to their superfund for 2020 without…