RESOURCES

We have detailed below some resources which we find businesses and taxpayers asking for continually and have expressed an interest in.

Tax Calculator

Sometimes it's handy to be able to quickly know how much tax you have to pay on a certain income figure.

Here's a handy Australian tax calculator website that allows you to enter an income figure and it shows you the tax you will pay.

It also has prior years' tax rates.

LogBook

As an individual, in order to claim motor vehicle deductions under the "log-book" method, you are required to maintain a log-book, for a 12 week period, substantiating business use of the vehicle.

Details that are required to be completed are details relating to the vehicle, date of business-related journey, odometer readings at the beginning and end of each business journey and the purpose of the business-related journey.

Please note, when recording the purposes of the journey, details should be sufficient for the Australian Taxation Office to easily conclude the journey was indeed business-related.

You can download a pro-forma log-book by clicking here.

For those of you who would prefer an electronic version of a log-book, you may wish to review the following:

Logit:

http://www.fleetcare.com.au/news-info/logit-app

ATO Vehicle Logbook:

https://itunes.apple.com/au/app/ato-vehicle-logbook/id730712765

Foreign Investor Package

Are you a non-resident of Australia, looking to purchase an investment property in Australia?

If so, then our experience shows that Australian tax is usually the last thing that investors consider.

However, are you aware that there are a number of obligations that you must meet when owning an investment property in Australia?

Australian Taxation Law requires every person, regardless of tax-residency, who owns real property in Australia and earns rental incomes from such property, to declare this income by lodging an Income Tax Return in Australia, each year.

You can obtain further details of the Australian obligations you must meet by downloading our "Foreign Investor Package", by clicking here.

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