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In response to the damage which businesses have suffered due to the effects of the Covid-19 pandemic, the government has introduced a suite of measures designed to provide an economic stimulus, promoting growth and recovery. One of these measures related to a temporary increase in the instant asset tax write-off value. Intended to enable businesses…
Tax depreciation schedules are one of the most significant yet under-utilised tools available for property investors to maximise their returns. However, a large proportion of people still fail to realise the benefits of ordering a tax depreciation schedule. It is now estimated that through depreciation landlords could claim back between ten and forty per cent…
As an approach to passive income that’s gathered popularity in recent years, car sharing applications are used throughout Australia. Recently, the ATO has begun cracking down on those who are generating significant income through their use. If you’re partial to profiting from car sharing, you may want to learn more about your tax obligations. How…
Should you provide workers compensation insurance for your employees? There might be a few more benefits than you expect. First, let’s look at what this type of insurance entails, and then why you should already have a scheme in place. What is workers compensation insurance? This type of insurance will pay out if one of…