Loan Funded Share Plans for Succession
Tax law structuring options for employee share schemes are generally not attractive to medium-sized businesses and their accounting advisers in Perth. The ATO-endorsed employee share scheme incentives are good on scale, but the tax-free discount of $30k ($1,000 for others) for start-ups is ordinarily too small compared to the accounting advice and valuations needed for […]
Everything you Need on the 50% Capital Gains Tax Discount
When it comes to capital gains tax, the 50% CGT tax discount is a powerful tool. The knowledge that you can potentially enjoy half of your profits tax-free is common among Perth tax accountants and business families, but it’s also a key advantage that can significantly impact your financial decisions and how you go about […]
How is Real Estate a Tax Effective Investment?
It is often talked about that real estate investments are tax effective. But the question often remains – How is real estate a tax effective investment? And understanding the tax effectiveness of real estate is critical to the overall act of planning your families property portfolio. Understanding what is real estate While it can sound […]
7 Ways to Increase Your Tax Refund
Everybody loves the idea of getting a tax refund. And looking for ways to get a tax refund, or to reduce your tax paid to the Australian Tax Office is a primary job for your local tax accountant either in Perth or across Australia generally. It is important to remember that the simplest way to […]
How are the New PSI Rules Affecting Me?
The Australian Tax Office (ATO) have recently revised their approach for the taxation of Personal Services Income. And the change to the rules will affect the ways that Perth tax accountants interact and advise on how contractors in Perth and the rest of Western Australia approach and document their tax affairs. What is Personal Services […]
An Introductory Guide to Family Business Succession
As tax accountants we are often asked by our clients across Perth – What do I need to do for my business succession plan? Understanding what is a family business It is also fair to say that most family businesses do not consider the business to be a “family business” – either in Perth or […]
Simplifying your Right to Work Checks for your Team
As an employer you are required to validate the Right to Work for your employees and your contractors. And simplifying your cloud accounting and HR compliance together (including your Right to Work) is at the top priority list for many employers across Perth. Further, there is a series of heavy fines for not considering your […]
Great Accounting Business Tips for Start-up’s
As business accountants across Perth we see a range of mistakes that start-up business operators make. The act of starting up a new business is challenging enough without adding to the headache so we have listed a few accounting business tips for start-ups to help you along the way. Keep a separate business and personal […]
Dealing with the ATO When You Earn Income from Overseas
As Perth and Australia re-opens many families are looking offshore for growth and many families and the businesses they own are looking to relocate to Australia. And the international tax implications of when you change tax residency, generate income offshore (including through a foreign pension) or move capital into Australia from overseas has huge ramifications […]
Using the Tax System Downsizer Super Contribution to Maximise Your Super Fund
Tax law contains penalty taxes if you put more than a set limit into your superannuation. And one of those exceptions to the excess non-concessional contributions tax triggering is if you make a downsizer super contribution. Using the DownSizer Super Contribution tax exemption effectively and strategically will allow somebody to increase their SMSF balance. With […]