The write-off threshold of $20,000 has been extended to 30 June 2018. If you buy an asset and it costs less than $20,000, you can immediately deduct the business portion in your tax return – BUT HURRY, as this will reduce to $1,000 from 1 July 2018. You are eligible to use simplified depreciation rules […]
You need to know that the deductibility changed from 1 July 2017. From 1 July 2017, travel expenses relating to inspecting, maintaining, collecting rent, or attending management meetings for a residential rental property cannot be claimed as deductions by investors. The changes are now law. Excluded travel expenses include air fares, motor vehicle, hire car, […]
Every business has pain points that impact on performance. While a myriad of cloud-based solutions include products for bookkeeping, marketing, HR, stock control, wages and more, it’s important to consider if these solutions will actually fix the problem. At DLA Partners, we consider cloud-based options from a different perspective. Our first question is not ‘What […]
by Debbie Reed, Director Without a valid and appropriate Will, sole directors who are also sole shareholders may leave an uncertain future for their loved ones. Individuals who are both sole company director and sole shareholder run a great risk if they do not have a valid and appropriate Will in place. The consequences of […]
by Terry Edwards, Director If your business employs workers, your legal obligations towards them vary depending on whether they are an ‘employee’ or a ‘contractor’. Getting it wrong may result in penalties for the business, so it is well worth checking the working arrangements you have in place. If you are not meeting PAYGW, super, […]
by David Buchanan, Director & DLA Private Wealth In a recent report by the Australian Prudential Regulation Authority (APRA) there were 590,102 Self-Managed Superannuation Funds in Australia at the close of the March 2017 quarter [1]. This represented an increase of more than 22,000 SMSFs since March 2016, suggesting that Australians favour managing their own […]
At the time of engaging DLA Partners, our client had applied for federal government funding of $8.5M that was conditional upon the completion of specific milestones relating to land ownership, leasing premises and commencement of construction. All this was to be achieved within stringent timeframes. Our client knew he would need help to establish relationships with multiple and diverse stakeholders, seek significant investment and handle all aspects of accounting and financial management.
by Terry Edwards, Director With the end of the financial year fast approaching, it may be tempting to assume that there is no time left for business and tax planning. I disagree. In fact, early June is not too late to take simple action to maximise your financial position, but you need to act now. […]
by Debbie Reed, Director I would like to draw your attention to four proposals in the 2017 Budget which may affect your overall financial strategy. This article highlights a number of groups particularly impacted by Budget announcements including: Taxpayers earning more than $21,335; Retirees who are home owners; Investment property owners; Small business owners. In […]
by David Buchanan, Director In July 2016, legislation changed the way we as your accountant can advise on superannuation and SMSF. In the past, we could do this under the ‘accountants’ exemption’, but not any more. The new law imposed a range of restrictions on all accountants and to put it plainly, without study and […]