How WA Family Businesses Can Reduce Payroll Tax
In Western Australia, payroll tax remains one of the most significant state taxes facing thriving family-owned businesses. Once your payroll creeps above $1 million — not uncommon in a family business — every additional dollar in salary attracts up to 5.5 cents in tax. But what if there was a way to legally remove family […]
Rental property tax record keeping tips
The most obvious strategies for many are the most difficult to implement. And, for the taxation of rental properties the most obvious strategy a Perth tax accountant will talk to you about is keeping good records as part of planning your property portfolio. If you do not keep good tax records and tax receipts for […]
The simplest tax strategy in Australia
As tax accountants, we focus on a range of great tax strategies for business families. However, the simplest tax strategy is often not discussed. It might be a wood for the tree’s position, or it might be that its simplicity is so clear that it is not worth addressing. However, wealthy families structure their investments […]
Understanding the Importance of Tax Law Compliance
Whenever you move money and generate profits – either business, investment or wages – taxation and tax compliance is a consideration. And with tax potentially taking nearly half of the income generated almost every family in business is interested in genuinely reducing their tax burden they carry. And every family we have ever met has […]
Six Handy Tips on Avoiding Superannuation Guarantee Charge Penalties (SGC)
As a business employer you have an obligation to pay superannuation on behalf of your staff. And the tax penalties and tax administration of the superannuation guarantee system is complex and littered with multiple tax penalties ranging from higher superannuation, administration fees, loss of tax deductions and interest costs. The SGL applies to employment Australia […]
Getting an understanding of personal services income
Tax law has a fundamental premise that the income of a person belongs to that person regardless of how they structure their affairs. And for many smaller operators like IT, legal and medical professionals this concept of bringing the income home to the relevant professional is expressed in the concept “alienation of personal services income”. […]
Employee vs Contractor- the tax confusion goes on
Modern workplace arrangements have changed the concept of employment. The presence of working from home, flexi time work and the “gig economy” has meant that the concept of employment and contracting has moved significantly over time. This is especially true in Perth with the physical distance of our state requires innovative business solutions. The concept […]
How to Maximise Your Deductions
A very common question that we get from a lot of clients, is what can we claim and how do we claim it and how does it work?
Tax Concessions for Tech Start-ups
The government has introduced grants, concessions, and programs that encourage Australians to invest and create business through tech.
Tax Obligations of the Building Construction Industry
If we’re looking at fringe benefits tax, where we try and talk about it existing with other taxes is this concept of a reportable fringe benefit