From 1 July 2015 the government has made changes to the way you can claim your work related car travel expenses. Prior to 1 July 2015 taxpayers could use four different methods to calculate their claims. Read on to see what changes were put in place. But as of 1st July 2015 the government has…

The new financial year will bring some new and very welcome tax breaks for small businesses. From July 1 the 1.5% reduction in tax handed down by the Treasurer in the May 2015 Federal Budget comes into effect for incorporated companies with an annual turnover of less than $2 million per annum. The new tax…

With budget night fast approaching, there is more and more press regarding potential superannuation changes that be made to both Superannuation Contribution limits and also pension or assessing of your super via an income stream. With all of the uncertainty that currently exists, we suggest you contact your accountant if you are over the age…

One of the benefits for small business springing from the May 2015 budget handed down by the Federal Government is the proposed expansion of accelerated depreciation on assets from the previous $1000 threshold. The proposal allows small businesses (with an annual turnover of less than $2 million) the opportunity to immediately claim their tax deduction…