Blog

SUBDIVIDING PROPERTY AVOID UNNECESSARY TAX I was with a friend a while back and we were reminiscing of the good old days kicking a footy in his parent’s back yard.  Occasionally one of us would be a little too overzealous trying to impersonate Gary Abblett Snr and the ball would fly over the back fence.Read more

  TRAUMA INSURANCE WHAT IS MUM WORTH? We hear it from our clients all the time when we are discussing income and what each partner earns. The words from a stay at home parent – “Oh, I don’t need insurance, I just stay at home with the kids!” We can often de-value what a stay-at-homeRead more

ARE YOU READY FOR SUPERSTREAM? Every time the ATO brings in a new measure of compliance I can’t help but get frustrated. It means that there is one more piece of red tape that must be hacked away, one more thing that small business owners and managers must learn to do and be kept awayRead more

Negative gearing Negative gearing has been called a lot of things in the media lately… A tax break A party A rort Out of control It shows no sign of abating either. On the lead up to the Federal Budget, TV personalities like Waleed Aly throwing his opinion into the mix, and whole issue wasRead more

Industry super versus  financial adviser. Oooooh we just said a swear word – “financial adviser”.  There is a stigma that surrounds the financial planning industry, stemming from the industry super funds and a very successful marketing campaign that has run on TV. People will tell you that they don’t want or need a financial adviser.Read more

FRINGE BENEFITS TAX If you’re thinking about buying a ute for your business, here’s what you need to do to claim the ‘work horse’ exemption and avoid Fringe Benefits Tax If I had a dollar for every time a small business operator asked me “All utes are exempt from tax, aren’t they?” I’d be writingRead more

NEGATIVE LOGIC ON NEGATIVE GEARING & WORK RELATED EXPENSES Negative gearing:  In accounting the matching principle dictates that expenses must be matched against the revenues that they earned. It is one of the basic and underlying principles of accounting theory and our taxation system. The effect of the matching principle is best demonstrated by the wayRead more