Accounting + Bookkeeping

If you're an Australian, your family home is often your largest asset. And the ability to sell back home tax-free is an important part of your overall financial strategy.

Property depreciation is a non-cash tax deduction available to the owners of income-producing properties.  It is one of the few tax benefits that Perth tax accountants can discuss with their clients, and it does not require the ultimate cash payment to enjoy. As a building ages, items wear out—they depreciate. The Australian Taxation Office allows […]

A common misconception is that Australia has no inheritance tax. While that is technically true, it is not the case in practice. The death of a loved one almost always raises a raft of tax issues and triggers events that have a tax implication or trigger a tax event. As Perth tax accountants, tax planning […]

Rentvesting is a tax strategy many Perth tax accountants use to eliminate private debt on the family home while maintaining the main residence exemption for capital gains tax.  While the tax advice on the strategy is complex, it is worthwhile to understand the full range of tax implications and financial implications many Perth tax accountants […]

By Westcourt Blogger The ATO is currently targeting contrived trust arrangements that minimise tax by creating artificial differences between the taxable net income and distributable income of closely held trusts. Arrangements where trustees are engineering a reduction in trust income to improperly gain favourable tax breaks or pay no tax at all are being targeted […]