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AHQ Newsletter – December 2017

ACCHQ-December-2017

Recent legislative changes mean that SMSF trustees need more than ever to stay aware of the value of assets, and makes the forced unwinding of an LRBA a more real possibility for many. We run over the practical aspects.

We also look at the top 10 tax mistakes that rental property owners can make, pick apart where car expenses stand in relation to novated leases, and clarify when (and where) the concept of “entertainment” sits with regard to the deductibility of certain events to a business.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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AHQ Newsletter – November 2017

ACCHQ-November-2017

As it’s getting ever closer to the festive end of the year, we thought it prudent to run over the rules regarding Christmas parties and FBT. And borrowing money from a private company, even if it is your own business, can have serious pitfalls if not carried out correctly, so we look at the dangers of “Division 7A”.

There’s also an important distinction you may need to know between a travel allowance and the living-away-from-home allowance. We also look at how Australians are taxed on income that comes in from overseas.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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AHQ Newsletter – October 2017

ACCHQ-October-2017

There were a couple of housing-based superannuation contribution proposals contained in this year’s Federal Budget, for which draft legislation has finally been tabled. We run over the finer details that have been revealed.

And if you or anyone you know has considered driving an Uber car to earn some extra income, we have some essential information that you need to understand. However if you are already a higher income earner, note that a certain income threshold has recently dropped (by $50,000!) that may catch a lot of taxpayers unexpectedly.

We also look at immediate deductions for start-up businesses, and go over the car parking FBT exemptions for small business.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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AHQ Newsletter – September 2017

AHQ-September-2017

The small business CGT concessions can be extremely valuable, but sometimes the complexity of the details can be confusing. We clear up some of the more obscure factors.

The rules around LRBAs for SMSF trustees have been fiddled with again, and necessitate (again) a look at the fine print. There is also a new statistical report on SMSFs that trustees should be glad to read.

Also dealt with are the differences between investment returns being on revenue or capital account, and what to do if you need to lodge your next tax return early.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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General advice warning:  The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.