Redundancy can come as a shock but it can also present you with opportunities to take advantage of when you appropriately plan and understand the tax implications. A redundancy payment consists of money in lieu of notice and an incentive payment generally based on years of service and can vary depending on company policy. Read more
Garden watering systems, closed circuit television systems, intercom systems and solar powered generating system assets are all assets which are often missed by property investors when claiming depreciation. Read more
It’s hard to believe it’s February already, with the nation back at work and kids back at school after the summer holidays.
Casual cash quarter
This casual cash quarter we are recognising the hard work that our local firefighters do, especially during the warmer months. We will be supporting our local Lockwood and Maiden Gully Fire Brigades through casual cash donations.
All eyes were on the US in January, where newly installed President Trump hit the ground running. Markets took this as an encouraging sign that he would follow through on promised tax cuts and infrastructure spending. An encouraging start to the US company reporting season and higher oil prices also boosted confidence, until confusion surrounding immigration policy prompted a late sell off.
In Australia, local shares lost ground over the month despite continued strength in iron ore prices and tame inflation. The consumer price index (CPI) rose by a lower than expected 0.5% in the December quarter, taking the annual rate of inflation to 1.5% from 1.3% previously. This leaves the door open for a potential further rate cut by the Reserve Bank if inflation remains in check.
Also in this issue:
- Home office deductions explanation
- Wine Equalisation Tax Rebate changes summarised
- Tips on how to get your business on track for 2017
- Venture Financial Advisors raise the topic of education costs
- What we’ve been up to in the community.
We hope you find this issue informative, should you wish to investigate any of these matters, we encourage you to contact our office.
Small business restructures made easier
The Government has made changes to the tax law to provide tax relief for small businesses that restructure. The tax law changes provide an optional rollover for small business owners who change the legal structure of their business on the transfer of business assets from one entity to another. Read more
Small businesses restructure tax relief
Small businesses are important to the Australian economy, as they facilitate growth and innovation. As a small business develops over time, however, it’s initial legal structure may no longer be suitable for the business. Read more
Our cover story this issue tells the story of young Eliza and how Righteous Pups will change her life for the better. Eliza’s Heroes are a group of community-minded people who have trained for months to take on the Bendigo Braves at 2pm on Saturday 19 March 2016 at the Bendigo Stadium. Read more
Single Touch Payroll pilot and tax offset proposed
The Government is looking to cut red tape for employers by simplifying tax and superannuation reporting obligations through its initiative called Single Touch Payroll (STP). Read more