JMR PARTNERS NEWS RESOURCES
Never start a business just to “make money” START a business to make a difference
~ Marie Forleo
Active vs passive assets and the small business CGT concession
The small business capital gains tax concessions are extremely valuable. For small business owners who need to dispose of assets that have risen in value during the time they have owned them, accessing these concessions can mean greatly reducing any consequent tax liability, even to zero.
Extend the festive cheer (but in a taxefficient way)
The festive season is here again. As with other years it is always brimming with the spirit of giving. The list of practical ways in which Australians spread goodwill is as endless as a Christmas wreath.
Don’t let a tax debt put you in a spin
Whether you’re running a business or are just an individual trying to make ends meet, there is nothing worse than finding yourself in a situation where you have a tax debt owing to the ATO, which most likely will also be accruing a general interest charge and perhaps even a shortfall interest charge.
When are personal tax returns due?
When are individual 2015/16 tax returns due? Common belief among many taxpayers is that the due date is 31st of Ocober 2016. The answer is “It Depends!”.
Travel to a workplace: what’s in, what’s out
A recurrent topic of conversation is when taxpayers can claim deductions for travel to a work location, and the eligibility or otherwise of certain claims in regard to that travel.
Lodgement rates and thresholds guide 2016-17
To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place.
$20,000 write off is only available for small business, unless…
There is an under-used gem hidden within the small business simplified depreciation rules that in some circumstances can widen the opportunity to access this valuable deduction.
Hobby farming is a lifestyle choice that has been around
It can be easy to poke fun at the typical hobby farmer (like the old joke about their skills at growing blackberries and rabbits). For many the choice to embrace the rural idyll leads to a thirst for information about the taxation realities of owning a small country property. It is true that small rural landholders may be pursuing “lifestyle” dividends rather than a genuine livelihood, but the option to claim the tax concessions for bona fide primary producers is still available, if eligible.
Taxing The “Sharing Economy”
Have you ever let a room on the popular accommodation site Airbnb? Ever shared a ride with pseudo taxi service Uber? If so, you may have some tax to pay.
5 Tips For A Tax-Free Christmas Work Party
Christmas will be here before we know it, and it is likely that better organised employers will already be thinking about their yuletide preparations.
Building A New Home? Is It Exempt From CGT?
Christmas will be here before we know it, and it is likely that better organised employers will already be thinking about their yuletide preparations.
Got Your Car Log Book Ready?
When claiming for work-related car expenses, many taxpayers miss out on maximizing their claim due to inadequate record keeping.
The success combination in Business is: Do what you do better… and: Do more of
what you do…
~ David Joseph Schwartz