I was lucky enough to spend some time in Vietnam earlier this month on a business trip. I was there to assist a client with capital raising and exploring potential new markets. Personally and professionally, the trip was very enjoyable, however this was not an opportunity I would have expected to arise just a few months ago.

When asked by that trusting friend/colleague to join them as a Director in their company…. Are you aware of the responsibilities that you are signing up for? Being a silent director, does not mean that your duties as a director are silenced. You can be prosecuted just the same, should something go wrong!

It’s important to take the time to understand what expenses you are entitled to claim against your taxable income and remember that spending the money is only half of it, you must have proof of the expenditure and be able to substantiate to the ATO how it relates to your work.

Recent legislative changes have now restricted the ability to claim certain rental property expenses. There are two main items where tax deductibility have been significantly reduced impacting on most investment property owners. Read on as we explore and explain the changes in relation to claiming Travel Deductions and Depreciation for your investment property.

As the end of financial year fast approaches, clients are reminded to consider their tax planning strategies to ensure prompt action is taken before the 30 June deadline. Below are some useful reminders and references for SMSF trustees in the lead up to 30 June.

30 June is fast approaching! With that in mind, now is the opportune time to plan for the 2018 Tax Year, so that you are not taken by surprise. Some areas of your business that you should consider to ensure you achieve the best tax outcomes are explained below.

By now, nearly everyone has heard of Bitcoin, the cryptocurrency that started them all. When Bitcoin reached approximately $20,000 AUD in December 2017, I don’t think you could be online without having some sort of cryptocurrency advertising targeting you! The media spotlight continues to shine on Bitcoin, and as with all media information, it becomes difficult to sort the legitimate news from the hype. So back to basics – what is cryptocurrency?

The 31st of March is fast approaching, which means the end of another Fringe Benefits Tax (FBT) year. FBT can quite often be ignored by many business owners, as they are unaware that some benefits they are providing to their employees may actually result in Taxable Fringe Benefits.

Well, it’s almost that time of year again! The time of year when we eat, drink and get very merry. We all love our annual Christmas parties but so do the ATO. Beware of Fringe Benefits Tax!

If you are an Australian resident you now need to prove you are when selling certain types of property in Australia by obtaining an ATO Clearance Certificate. Fail to plan ahead and you may not receive the full payment for your property at settlement.