Wallace Partners Client Information Newsletter – September 2016
A PDF copy of our Monthly Client Information Newsletter for September 2016
The small business community welcomed the government’s $20,000 instant asset write-off initiative from the last federal budget, but there is an added bonus hidden in the legislation that could open up the valuable deduction to a wider tax-paying cohort than just small business entities. We explain.
We also look at legal expenses that are allowable deductions, where interest on a loan taken out to pay a tax debt may be able to be claimed, and in a similar vein when refinancing a partnership can open up a deduction opportunity.
And if you are considering setting up your own self-managed superannuation fund, we run over the considerations you really need to pay attention to.