by Peter McCarthy | Feb 15, 2019 | Accounting, Taxation
A recent change to the rules around superannuation means that more Australians may be eligible to claim a tax deduction for putting money into super. Background Before June 30, 2017, if more than 10% of your income was sourced from salary or wages from an employer,...
by Peter McCarthy | Jul 26, 2017 | Taxation
With Tax Time now here, did you know that you can deduct the cost of travel to see your accountant? This is good news! A recently released tax determination spells out the circumstances where a taxpayer can make a claim for the costs of travel they incur where the...
by Peter McCarthy | Jun 27, 2017 | Taxation
With the 2017 Financial Year coming to an end we want you to be aware that if you use a trust, you need to complete your trust distribution resolutions before 30 June. Why? To avoid paying extra tax of up to 49% of Trust profits. Trustees who distribute income of a...
by Peter McCarthy | Jun 22, 2017 | Taxation
There is good news and there is bad news. This may sound like an odd rule, but claiming a deduction for interest borrowed to pay your tax debt is an allowable expense, as long as you are running a business. In 1990, the ATO was asked about the tax deductibility of...
by Peter McCarthy | May 12, 2017 | Taxation
The Federal Budget has been released and Team #PTAandM have completed out Budget Breakdown on some of the key points and features of this year’s announcement. Unlike recent years where there have been many initiatives dealing with Small Business and...
by Peter McCarthy | May 4, 2017 | Taxation
Tax planning season for 2017 is well underway and Team #PTAandM have already saved our clients thousands of dollars in tax by taking decisive action now. 30 June will be here before we know it. Let us help you get the most out of the upcoming months. Too often, we end...
