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Welcome to our blog, we're excited to have you here! we hope the business advice, success stories and case studies we share will help you on your entrepreneurial journey

ARE CHRISTMAS PARTIES & GIFTS TAX DEDUCTIBLE?

  Christmas is fast approaching with only 6 Sundays until Christmas!  Gift giving and Christmas parties are well underway and it is a good time to be aware of the most tax advantageous ways to be generous to staff and clients.  The best gifts tax wise are ‘non-entertainment’ gifts such as wine, chocolate, hampers, skin care products, massage vouchers etc as these gifts are […]

November 11, 2019

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Cashflow, E-Commerce, Small Business, Tax Deductions, Women in Business

Claiming Mobile, Telephone & Internet Expenses

  Clients often ask if they can claim their telephone and internet expenses.  The answer is yes, but then I feel I frustrate them as I have to ask a thousand questions to ensure it is claimed correctly.  There’s never a straight-forward answer when it comes to tax law, the answer is always, it depends.  […]

September 23, 2019

telephone

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Small Business, Tax Deductions, Women in Business

Tax Planning 101 for Individuals – defer capital gains tax and realise capital losses

If you are selling a capital gains tax (CGT) asset and expect to make a capital gain, to defer the CGT ensure that the contract of sale is dated after 30 June 2019.  CGT discount is only available if the asset has been held for more than 12 months. If you have a capital gain […]

May 20, 2019

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Cashflow, Small Business, Tax Deductions, Women in Business

Claiming a motor vehicle for work-related purposes

If you operate a business as a sole trader or partnership (where at least one partner is an individual) you can claim a deduction for the business use.  If the motor vehicle is used for business and private use, you must reduce the claim for any private use. There are two ways to claim work […]

May 16, 2019

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Small Business, Tax Deductions, Women in Business

Claiming a tax deduction for home office, phone and office fit out expenses

If you work from home you can claim a tax deduction of 52 cents per hour you use the office for work purposes (45 cents per hour for the years prior to 30 June 2018) to cover the cost of electricity, cleaning, lighting etc.  Simply estimate the number of hours worked per week multiply by […]

April 12, 2019

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Small Business, Tax Deductions, Women in Business

Did you know?

The following details have been provided by the ATO: The rules for claiming deductions for payments to workers are changing. From 1 July 2019, you can only claim deductions for payments made to your workers where you have met the pay as you go (PAYG) withholding obligation for that payment. Where the PAYG withholding rules require […]

March 4, 2019

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Small Business, Tax Deductions

Is Entertainment Tax Deductible?

A common question we are often asked is, is entertainment tax deductible? The short answer is no except if provided to staff and Fringe Benefits Tax is paid on the entertainment.  Entertainment provided to clients is never tax deductible. The next question is, what is entertainment? Entertainment is food, drink, recreation and travel and accommodation […]

November 8, 2018

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Small Business, Tax Deductions, Women in Business

NEW ATO RATE FOR CAR EXPENSES

The ATO has increased the rate for work-related car expenses from 1 July 2018. The new rate is 68 cents per kilometre. It you are paying an employee over this rate, you need to withhold tax on the amount you pay over 68 cents.

September 16, 2018

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Small Business, Tax Deductions

Free Business Webinars

The ATO are offering free webinars for people who are starting a business, thinking about starting a new business or want to update their knowledge. There are 13 topics running from October 2018 to March 2019.  Topics are: Planning your regular financial commitments An introduction to tax basics Income tax deductions Home-based business Motor vehicle […]

September 1, 2018

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Small Business, Tax Deductions, Women in Business

Importance of a business plan

Driving somewhere new? Google Maps.  Too many things to do?  To do list.  Owning a business is driving somewhere new with too many things to do.  That’s why every business needs a road map with a list of things to do along the way. A business plan is an important tool to help guide your […]

July 16, 2018

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Cashflow, Small Business, Tax Deductions, Women in Business