by Garry Wolnarek | 1 Sep 2015 | General, Small Business, Tax Planning
If I have a general pool and the opening balance is $18,000 as at 1/7/14. I then I add an assets worth $5,000 (assume 100% business) purchased during the year. My depreciation deduction normally was $6,150 (30% on $18,000 + 15% on $5,000) and therefore the closing...
by Garry Wolnarek | 23 May 2015 | Accounting / Bookkeeping, General, Small Business, Tax Planning
We have fielded a lot of inquiries from members since the budget in relation to the newly announced immediate asset write-off for assets costing less than $20,000 for small businesses. The temporary immediate asset write off measure is intended to apply from 7.30pm on...
by Garry Wolnarek | 4 May 2015 | General, Small Business
In a recent financial year, Ebay was asked to reveal the identities of about 15,000 sellers that sold more than $20,000 worth of goods online. The ATO has now reduced the threshold to $10,000. Each year the government’s revenue collection arm extends further...
by Garry Wolnarek | 22 Mar 2015 | Small Business
Proposed changes to employee share schemes (ESSs) for Startups ESSs are a way for startup business to attract and retain high-quality staff they may not otherwise afford – by giving a share in the company’s potential succes, and as such allow them to have...
by Garry Wolnarek | 22 Feb 2015 | Small Business
The Tax Office says that it has encountered several myths adopted by both workers and employers when it comes to trying to decide the tax status of a job appointment. Having an Australian Business Number (ABN) – Myth: If a worker has an ABN they are a contractor...
by Garry Wolnarek | 6 Dec 2014 | General, Small Business
Christmas Parties, Gifts & Bonuses Tax Checklist Tax Prospective – The Do’s and Don’ts to Christmas Giving and Functions. We provide a Christmas year-end checklist that will guide your business from a tax consequence point of view when planning...
