Sometimes business owners need their employees to develop or grow their expertise and skills in a particular area. While training courses like seminars and one-day intensive sessions can be a worthwhile investment in your employee’s development, there are still a few things employers should consider from a tax point of view. Although employers can claim…
As a business owner, you can claim a tax deduction for expenses for motor vehicles – cars and certain other vehicles – used in running your business. When it comes to claiming on motor vehicle expenses, sole traders and those operating in partnerships are able to claim for the cars used for their business with…
Been hearing a lot about business activity statements, and feeling more than a little pressure? Kicking off the new year for your business shouldn’t be shrouded in the darkness that can be a looming BAS. But how can you be certain that your business is prepared? To start with, demystifying the BAS might alleviate some…
Are you considering giving your employees a treat this year as a thank you for their hard work? Certain gifts that are given to your employees may be claimable as a tax deduction under strict conditions and rules. During this time of giving, a Christmas gift can be rewarding to both the employee and the…
Importing goods in Australia can be subject to a range of different taxes, rules and procedures As an island country, Australia imports a lot of the products that businesses sell. Whether it’s a paperback bestseller from the New York Times, a luxury car for a dealership or heavy machinery for the mines, taxes on the…
While your business may not necessarily be planning an extravagant bash after the events of this year, a Christmas party may be on the menu for your hard-working employees. Planning out your Christmas party in a COVID-safe manner with a little knowledge of the tax deductions you might be able to claim back can make…
Thinking about starting the new year with a new job? It’s coming to that time of the year where a lot of Australians may be thinking about refreshing their careers with a change of pace, but that could leave them with taxable consequences for their unused leave. For example, if you currently hold a job…
Across the country, many individuals, trust or companies may be involved in a business that deals with primary production. These are known as primary producers, who are involved in businesses undertaking plant or animal cultivation, fishing or pearling or tree farming or felling operations. The taxable obligations of one who is involved in primary productions…
Are you in the process of getting a second job to supplement your income? Or have you already received one, and are now simply confused about what you are being taxed on? Gaining employment in a second position or job means that you may have a higher amount of tax withheld from your pay. Though…
The creative arts industry has been one of those affected over the past two years by COVID-19, with countless cancellations, uncertainty and threats to the continued viability of the businesses and individuals involved within.With more than 600,000 Australians within the industry, the government aimed to ease the burden of the countless employers within. The COVID-19…