Merry Christmas December Newsletter 2016

by | Dec 19, 2016 | Tax Planning


computer keyboard and present on table

Christmas Work Party “decision tree” for tax deductions

We provide a simple “decision tree”- flowchart to help businesses work out the general tax implications of the year-end work Christmas party.

When are gift donations deductible?

The ATO allow taxpayers to claim a deduction for a “gift” or for a “contribution” that satisfies certain conditions. While the deductibility criteria do vary, the common requirement arcoss all types is that the recipient must be a “deductible gift recipient” (DGR)-

We look at –

  • Common donations
  • Donating cash
  • Donating goods
  • Volunteering
  • Offering professional services for free

Luxury car Xmas Bonuses – beware of the luxury car tax

 You can judge whether a car is luxury or not, according to the government, if it costs more than $64,132 for 2016-17. It’s not an over-the-top price tag if you’re considering true luxury, but it’s enough to cop an extra tax.

  • What you need to know
  • Any exclusions ?

Airbnb – Tax Treatment for those renting out whole or part of them home over the holiday season via airbnb.

Sharing Economy Tax Issues

Christmas Closure

We wish to thank all our clients for your support in 2016, and are all looking forward to contribute to your successes in 2017.

New office at North Lakes is now open and ready for business in 2017.

Office closes on Wednesday 21st December 2016, re-opening on Monday 9th January 2017.

We wish you a Merry Christmas & A Prosperous New Year

Share This