Tax on superannuation contributions







  Tax on superannuation contributions   The tax you pay on your super contributions generally depends on whether the contributions were made before or after you paid income tax, you exceed the super contribution caps or you are a high-income earner.   Before-tax super contributions (concessional)   Concessional contributions are contributions that are made into […]





EOFY last-minute tax planning strategies




Tax Planning


EOFY last-minute tax planning strategies   Pre-pay investment loan interest   If you have some savings, then see if you can negotiate with your finance provider to pay interest on borrowings upfront for the investment property and make that deduction available this year. Most taxpayers can claim a deduction for up to 12 months ahead. […]





Circuit Breaker Business Support Package







Circuit Breaker Business Support Package The Victorian Government has launched the $250 million Circuit Breaker Business Support Package to assist small to medium businesses and sole traders, under the circuit breaker restrictions announced on 27 May 2021.   Business Costs Assistance Program   The program provides $2,500 grants for eligible employing and non-employing businesses in sectors […]





Contractors reminded to declare income from Sub-contracting







    Contractors reminded to declare income from Sub-contracting   The Australian Taxation Office (ATO) has revealed it is using data from its Taxable Payments Reporting System (TPRS) to ensure that payments made to contractors have been properly declared.   Businesses that pay contractors in the courier, cleaning, building and construction, road freight, information technology, […]





Small Business Capital Gains Tax (CGT) Concession




capital gains tax


  Claiming Capital Gains Tax (CGT) Small Business Concession if  Company’s only activity is renting out an investment property.   Income tax: can a company that carries on a business in a general sense as described in Taxation Ruling TR 2019/1 Income tax: when does a company carry on a business? but whose only activity […]




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