We’re not sure whether to be shocked or impressed with the tax deductions this person was claiming.
The removal of the Capital Gains Tax main residence exemption is an idea that has been raised continually in the past, however, this article gives some reasons as to why this may be difficult to achieve.
Given the first week of the New Year has been filled with stories of corporate collapses, falling share market and questionable business practices, we thought we’d provide some goods news. Enjoy.
After reading this article, we think a good follow-up article would be the effect of non-indexing income thresholds for various concessions/rebates, to determine the extent of income Federal revenue saved since 2004-05.
MYOB’s Business Monitor has recently surveyed SMEs to find their top 5 pressure points.
A couple of findings match points we have mentioned in previous articles.
This keeps coming-up time and time again.
It does, however, highlight the dangers in misclassifying employees as contractors.
Keep in mind, as an employer, the liability for unpaid PAYG Withholding Tax and superannuation contributions rests with you.
We’ll keep you posted when the ATO public ruling regarding website development costs becomes available.