April 2016 Newsletter

by | Apr 28, 2016 | General, Small Business

Figure House & car under umbrella in bright green

Using Business Assets Personally

While your business might own some tempting assets, be careful when making use of these for your personal enjoyment, as this could trigger a tax liability.

Changing Business Structure

And if you are considering changing the structure of your small business, a new measure means you might in certain instances no longer trigger CGT.

SMSF – Binding & No-binging death benefit nominations?

SMSF trustees note; it is essential that you know the difference between a binding and a non-binding death benefit nomination, so we run over what these mean.

Business Succession Plan

And speaking of legacies, every successful business owner should ideally have a succession plan in mind.

Travel Expense & Living Away From Home Allowance?

We also look at travel expense claims, how these differ from the living away from home allowance, and also how the ATO is getting help from insurance companies to uncover undisclosed wealth.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

Rapid Antigen Test (RAT) Kits are tax-deductible?

Yes can claim the tax deduction for money spent on a RAT kit in the following cases: 1. You are required to take a test before undertaking work (e.g., as a mandatory requirement under an employer’s COVID mandate), or2. You are required to travel for work interstate...

Directors now need an ID!

All directors or intended directors need a DIN All directors or proposed directors within 12 months of directorships of companiescorporate associations & body corporates registered under the Corporations Act.Corporate Trustees for TrustsSMSF Corporate Trustee Need...

Rapid Antigen Test (RAT) Kits are tax-deductible?

Yes can claim the tax deduction for money spent on a RAT kit in the following cases: 1. You are required to take a test before undertaking work (e.g., as a mandatory requirement under an employer’s COVID mandate), or2. You are required to travel for work interstate...

SEQ 2021 COVID-19 Business Support Grants

SEQ 2021 COVID-19 Business Support Grant  – Open at Midnight 16th August 2021 Targeted Support to who? Queensland Labour State Government is targeting only businesses with unrelated staff for grant support, why? business with related staff only, may be able...

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