Compliance, Tax Tips
The technology investment boost and the skills and training boost for small businesses were both legislated on Friday 23 June 2023. These boosts allow eligible businesses to claim a ‘bonus’ tax deduction equal to 20 per cent of qualifying expenditure. Find out more...
Compliance, Tax Tips
In recent years, there have been three ways you can claim deductions for expenses incurred while working from home – The Actual Method: You claim the actual amount of expenses by keeping records and written evidence to determine the work-related proportion of actual...
Compliance, Tax Tips
If you run your professional affairs through a company, trust, or partnership and more than 50% of your income comes from your personal skills or efforts, then you are earning Personal Services Income (PSI). This impacts the types of deductions you can claim, and the...
FBT, Tax Tips
Thinking of purchasing a motor vehicle? If you are contemplating the purchase of a motor vehicle within the next few months then the timing of this purchase may have more tax consequences than you anticipated. If the following facts apply to you then you should...
FBT, Tax Tips
Christmas can present a tax headache in the New Year if you’re not aware of the Fringe Benefits Tax (FBT) implications of your Christmas celebrations. FBT is a complex area that has many variables depending on the way your business ‘entertains’...
Compliance, Tax Tips
By Marie Olesen If your business isn’t up to date with your PAYG withholding obligations, you may not be entitled to claim any business related tax deductions. From 1 July 2019, businesses will no longer be entitled to claim a tax deduction for payments made where...
O'Connells OBM uses cookies to monitor the performance of this website and improve user experience. View our privacy policy to review how we use them and your data.
AcceptDeclinePrivacy policy
