This year the ATO has developed fact sheets to help small businesses in claiming three of the most common expenses: Motor vehicle expenses Travel expenses Home based expenses We recommend, if you are running a businesses, that you
ATO ‘hit list’ for individuals in 2019
The first thing to remember when claiming work related deductions is that to be deductible, they must relate to the job you are being paid to do. In addition to this, you need to be able to substantiate your claim by way of invoice, receipt or bank
FBT and expensive cars
What you need to know if you purchase a car for more than $57,581: Any business owners looking at purchasing a new car that costs more than $57,581 need to be aware of the tax implications. Special rules apply for cars with a value exceeding the
Lower company tax rate changes
From the 2017-18 income year a company must be a base rate entity to be eligible for the lower 27.5% company tax rate. A company is a base rate entity if both of the following apply: They have a turnover of less than $25 million and 80% or