August 2016 Newsletter

by | Aug 29, 2016 | General, Small Business, Tax Planning

Gumboots? check, Akubra? check, Tax status?……

Hobby Farming

It is true that small rural landholders may be pursuing “lifestyle” dividends rather than a genuine livelihood, but the options to claim the tax concessions for bona fide primary producers is still available, if eligible.

August 2016 Newsletter Link

Tax Treatment for Hobby Farms

Tax Treatment for Hobby Farms

Australian Homeowner Moving Overseas and Selling Their Principal Place of Residence (PPR) – Avoiding a $295,200 CGT Bill

Principal Place of Residence Exemption Loss if Sold While Overseas Summary of how the Principal Place of Residence (PPR) Exemption is impacted by moving overseas. When Australian homeowners move overseas and become non-residents for tax purposes, selling their...

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...

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