Come tax time, every penny counts – particularly in the case of investors. Owners of rental properties are entitled to tax deductions in connection with their investments but do you know what these deductions are and how you can save yourself from paying more? Read our guide below for a rundown of claimable rental property...

In general terms, there is a prohibition on superannuation funds borrowing money, however an exception to this rule enables self managed superannuation funds (SMSFs) to borrow in order to acquire certain assets. These borrowing arrangements are strictly regulated. When borrowing to acquire an asset, the fund takes out a loan on a ‘limited recourse’ basis,...

The Tax Office has now made available a sample form for the new Taxable Payments Report for building and construction businesses who engage contractors, which starts from July 1, 2012. The sample form outlines the information required when the reporting changes come into force. The actual forms will be available from the Tax Office website...

Business •    Company tax loss carry-back scheme which allows companies to carry-back tax losses of up to $1 million to offset previous profits and provide a refund of tax previously paid. •    Immediate write-off of the first $5,000 of a new or used motor vehicle and each eligible business asset that costs less than $6,500...

The new Personal Property Securities Register means significant changes to the way you manage your security interests. While there are a number of benefits for businesses, there are some serious consequences attached to non-compliance. The new PPSR, introduced on 30 January 2012, replaced multiple capital, state and territory registers to bring information into one national...

Creating a positive work environment is crucial to the success of a company. But is your business suffering as a result of a negative workplace culture? A positive work environment offers a multitude of benefits; it increases productivity rates, employee retention levels and customer satisfaction. However, sometimes negativity finds a way in and engrains itself...

Whether you are a debtor with a loan, or a company seeking debt recovery, it is important to understand when loans repayable become statute barred. The requirements are clearly outlined in Division 7A of Part III of the Income Tax Assessment Act. If a financial debt is incurred and remains unpaid for a period of...

Personal Property Securities Register: www.ppsr.gov.au The Personal Property Securities Register (PPSR) is the register where details of security interests in personal property can be registered and searched.  A search on the PPS Register will enable a consumer to find out whether there is a security interest registered against personal property that they may be about...

As global economy uncertainty continues it is crucial that businesses and individuals are prepared for more potentially financially testing times in the year ahead.  Now is the time to act and focus on your tax and financial planning in order to minimise tax, reduce risk, and be prepared financially for the year ahead. Effective tax...

Tax payers can reduce their tax liability this end of financial year by deferring the realisation of a capital gain until after June 30.  If you are thinking about selling an asset this year for a profit, you may want to consider deferring until the 2012-2013 financial year. This could reduce the amount of Capital...