by Team Garnet | Nov 24, 2022 | Business Structures, Small Business, Tax News
Rental waivers, deferrals or variations from your business’s landlord may seem like a good thing but beware of the potential income tax, GST and even CGT consequences of deferred rent. If you run a business from rented premises, there may be tax consequences when rent...
by Team Garnet | Oct 8, 2022 | ATO, Business Structures, Small Business, Tax News
Did you know you can vary your pay-as-you-go (PAYG) instalments due to a change in your financial situation? Should you be varying your PAYG instalments? Pay-as-you-go (PAYG) instalments are prepayments of your expected income tax for the year. If your total PAYG...
by Team Garnet | Sep 30, 2022 | Investments, Money, Superannuation, Tax News
To encourage downsizing, a new Bill has been introduced to extend the existing assets test exemption under social security and change the rate of deeming of proceeds of sale. In a bid to support pensioners and in conjunction with the announcement to reduce the...
by Team Garnet | Sep 23, 2022 | ATO, Business Structures, Small Business
The government has proposed to give small businesses a temporary 20% bonus tax deduction for employee training expenditure. As a part of its strategy to address the current skills shortage as well as to future-proof Australia’s workforce by building better trained and...
by Team Garnet | Sep 16, 2022 | Investments
If you earn income from an investment property, you may be entitled to a deduction for expenses directly incurred in taking out a loan for the property. Have you considered what this means for you and your investment property? Let’s start at the beginning and...
