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Legislation Loop Hole allows Employees to Salary Sacrifice 100% of Rental Expenses |
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Do you know how much leave you are entitled to this Christmas? |
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From the Principal, Michael Quinn The festive season is upon us and this means that for most of us a well earned holiday is just around the corner, even if it is only a few days over the Christmas break. Looking back it has definitely been an eventful year in many respects, both for the world at large and here at The Quinn Group. |
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Legislation Loop-Hole allows Employees to Salary Sacrifice 100% of Rental Expenses It is a little known fact that any rental expenses that are considered to be “otherwise deductible”, meaning they are actually paid or due to be paid and have the potential to be claimed as part of the owners’ rental return, are able to be salary sacrificed. Under the “otherwise deductible” rule, the sacrificing of these paid expenses does not attract fringe benefits tax. |
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Holiday Home Tax Considerations and Deductions It’s almost Christmas time, and it’s summertime too! At this time if the year it is likely that many of you are making plans to get away for a while. If you have a holiday home that is rented out at other times during the year, but are planning to stay there yourself over the Christmas break, it is important to be aware that there are some tax implications that may be associated with it. |
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Restructuring may be the Answer for Struggling Businesses Many people believe that if their business or company is failing, insolvency via administration, liquidation or receivership is the only way to go. In fact, this is not the case at all. There are a number of methods that can be applied in order to “rescue” a failing business and consequently prevent its slide into insolvency. |
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Do you know how much leave you are entitled to this Christmas? This time of year sees many of us taking some well earned time off work. Along with deciding where to set-up your beach chair, it is important to know how much annual leave you are entitled to. This will ensure that you don’t find yourself short of accrued time and as a result, possibly leave yourself short of the all important holiday spending money! |
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Melbourne Cup Celebrations at Quinns Like most of the nation’s population, the team at The Quinn Group took some well earned ‘time out’ on the afternoon of 4 November to celebrate “the race that stops the nation” – Melbourne Cup. As much as we love being accountants and lawyers; doing tax returns, reviewing contracts and the like, it was nice to be able to forget about that for a few brief moments, put on our best rags (see the stunning visual image to the left!) and spend some time with each other outside of the office. We had a lovely afternoon at the Miranda Hotel. There was eating and drinking and some of us even dared to have a little bit of a gamble on the big race. Although, being surrounded by accountants we were made all too aware of the frightening statistics that scream “don’t do it, you are never going to win! " Congratulations to John Elisher who won the office sweep competition, although I think he would have rathered that Bauer took the title as this would have provided a more lucrative return on his investment. The accountants tried to tell him! Better luck next year John. |
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Archizen Holistic Architecture
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Disclaimer: The contents of this document titled “The Quintessential Brief” (the ‘Material’) are provided as general information only. It is not intended to be given as advice and should not be relied upon as such. If you are concerned about any issue raised by the Material then you should seek your own professional advice. No warranty is given in relation to the accuracy, currency or completeness of the Material. No reader should act on the basis of any matter contained in this publication without first obtaining specific professional advice. Where applicable, liability is limited by the NSW Solicitors Scheme under the Professional Standards Act 1994 (NSW), and other relevant state legislation. The Quinn Group respects your privacy. Should you not wish to receive this newsletter in the future please contact us on 1300 784 667.