by Quinns_News | Oct 18, 2017 | Blog
As from 1 July 2017, the threshold at which the additional 15% Division 293 tax applies on concessional contributions is lowered from $300,000 to $250,000. An individual’s ‘income’ from Division 293 purposes includes not only taxable income, but also any total net...
by Quinns_News | Oct 11, 2017 | Blog
There is no one size fits all answer to the above question. The answer will depend on your individual goals and objectives. Below we provide a snapshot of the advantages and disadvantages of each option. Buying the property in your name Advantages All proceeds from...
by Quinns_News | Oct 11, 2017 | Blog
An informal will is a document which states the testamentary intentions of a deceased individual, but is not executed in accordance with the formal requirements for a valid will (e.g. not being witnessed correctly). Section 8 of the Succession Act 2006 allows the...
by Quinns_News | Oct 11, 2017 | Blog
If you work from home, you may be able to claim a deduction for some of your expenses relating to the area you use. Generally, you can claim the deductions depend on whether any of the following applicable: you have a work area – a room or area set aside primarily or...
by Quinns_News | Oct 4, 2017 | Blog
If you don’t need the cash generated from your small business, and you want to minimise your taxation liability you should consider contributing part of your profit into your superannuation fund. Changes to the rule. Prior to 1 July 2017 you were not entitled to claim...
by Quinns_News | Oct 4, 2017 | Blog
The Australian Consumer Law will protect small businesses from unfair terms in standard form contracts. What contracts are covered? The law applies to standard form contracts entered into or renewed on or after 12 November 2016, where: it is for the supply of goods or...
