There has never been a more exciting time not to be an employee

By Michael Fox on 20/4/2016 in Car expenses, Non-commercial losses, Company tax, Negative gearing, Resale royalties, Federal budget, Superannuation, Artists

The Federal Budget is less than a month from being announced, however it is becoming apparent the policy direction of the Turnbull government is moving towards granting tax concessions to business at the expense of time-honoured employee tax deduction rights. 2016 has already witnessed unruly speculation over broadening the base and/or rate of the GST; changes to the neg...

Read more

Summary of announced tax changes in the 2015 Federal Budget

By Michael Fox on 15/5/2015 in Car expenses, Small business, Depreciation, GST, Capital gains tax, Superannuation

The Government has announced tax reductions for small businesses with an aggregated annual turnover below $2m regardless of entity type. For companies, the company tax rate will be reduced by 1.5% to 28.5%. Maximum franking credit rates for a distribution will remain unchanged at 30%. For taxpayers operating through an unincorporated business structure (partnerships, tr...

Read more

Top 10 tax claims for artists and creative professionals

By Michael Fox on 24/6/2017 in Business tax returns, Home office tax deductions, Individual tax returns, Car expenses, Artwork tax deduction, GST, Depreciation, Artists

Top 10 tax claims for artists and creative professionals...

Read more