https://www.taxtalks.com.au/wp-content/uploads/2019/09/taxtalks-10.4.jpg 400 1000 Jan Twilight Jan Twilight2019-09-05 03:49:362019-09-05 03:49:3696 | Food and Drink affects Income Tax, GST and FBT
Any food and drink is either a business expense or entertainment. Whether it is one or the other doesn't just affect income tax, but also GST and FBT.
https://www.taxtalks.com.au/wp-content/uploads/2019/09/numba-30.jpg 400 1000 Jan Twilight Jan Twilight2019-09-05 01:31:482019-09-05 01:31:4892 | Minor Benefit Rule
The minor benefit rule is the one exception that turns a non-deductible contribution into a tax-deductible gift. Minor Benefit Rule Is the ticket for a fundraising dinner a tax-deductible gift? Is a successful bid at a charity auction a tax-deductible gift? The short answer is ‘No’. The person paying gets something back in return for […]
https://www.taxtalks.com.au/wp-content/uploads/2019/09/numba-29.jpg 400 1000 Jan Twilight Jan Twilight2019-09-05 01:22:042019-09-05 01:22:0492 | Gifts and Contributions
Every donation of money or property to a charity is either a gift or contribution.
https://www.taxtalks.com.au/wp-content/uploads/2019/09/numba-27.jpg 400 1000 Jan Twilight Jan Twilight2019-09-05 01:09:422019-09-05 01:09:4291 | How To Tax Deduct Business Lunches
Can you tax deduct business lunches? In principle No, but probably Yes.
https://www.taxtalks.com.au/wp-content/uploads/2019/09/plane-841441_1920.jpg 1275 1920 Jan Twilight Jan Twilight2019-09-04 23:04:302019-09-04 23:04:3090 | Deduct Travel Expenses
When you deduct travel expenses from your income you save tax. That is a good thing. But you are also more likely to get audited.
https://www.taxtalks.com.au/wp-content/uploads/2019/01/Dollarphotoclub_79694959-min.jpg 3744 5616 Jan Twilight Jan Twilight2019-01-11 13:50:002019-01-14 01:06:5873 | Div 43
The deductions under Div 43 make up the bulk of a property investors deductions. And the good news is that the changes to Div 40 don't affect Div 43.
https://www.taxtalks.com.au/wp-content/uploads/2019/01/Dollarphotoclub_33191823-c-min.jpg 3000 4500 Jan Twilight Jan Twilight2019-01-11 09:55:132019-01-14 04:49:5272 | Div 40
Div 40 is about the deprecation of plant and equipment. Since 2017 significantly curtailed but still better than nothing.
https://www.taxtalks.com.au/wp-content/uploads/2018/09/sydney-bridge-230178_1280.jpg 720 1280 Heide Robson Heide Robson2018-09-04 02:50:102019-01-18 04:50:2622 | Are tolls car or travel expenses
Tolls are travel expenses and subject to GST (just in case you were wondering). And it makes sense when you think about it.
https://www.taxtalks.com.au/wp-content/uploads/2018/08/kelsey-chance-575535-unsplash-min.jpg 3840 5760 Heide Robson Heide Robson2018-08-28 02:29:272019-03-01 23:02:477 | Tax Deduction for Entertainment
A business expense is tax deductible. Entertainment is not. Unless subject to FBT. So the all deciding question is: What is entertainment?
https://www.taxtalks.com.au/wp-content/uploads/2018/08/Dollarphotoclub_78082347-min.jpg 3741 7000 Heide Robson Heide Robson2018-08-27 02:23:442019-01-18 03:19:155 | Tax Deduction for Conference Travel
How much can you claim as a tax deduction for conference travel? You might have to reduce the claim for any private portion. Here is how.
https://www.taxtalks.com.au/wp-content/uploads/2018/08/Dollarphotoclub_66496339-min.jpg 2775 4036 Heide Robson Heide Robson2018-08-22 02:33:282019-01-18 03:11:573 | Tax Deduction for Fundraising Events
If a charity event passes the Minor Benefit Rule, the DGR charity can issue a tax receipt for parts of the ticket price and auction proceeds. Here is more.
https://www.taxtalks.com.au/wp-content/uploads/2018/08/bag-bags-bargain-5956-min.jpg 3648 5472 Rokun Cze Rokun Cze2018-08-21 03:23:342019-01-18 03:05:382 | Tax Deduction for Gifts and Donations
The tax deduction for gifts and donations sits in Division 30 of ITAA 97 Deductions for Gifts and Contributions. There is a lot in that title. Let's dissect it.
https://www.taxtalks.com.au/wp-content/uploads/2018/08/nastuh-abootalebi-284882-unsplash.jpg 1536 2301 Rokun Cze Rokun Cze2018-08-20 03:22:112019-01-18 03:00:431 | Commissioner's Effective Life of Depreciable Assets for 2019
The Commissioner publishes a Taxation Ruling each year listing the effective life of depreciable assets. Here is a handy overview for small operators.
https://www.taxtalks.com.au/wp-content/uploads/2018/07/Dollarphotoclub_79225923-c.jpg 1125 1500 Heide Robson Heide Robson2018-07-03 03:18:362019-08-22 03:43:0861 | Property Depreciation
The rules around property depreciation are confusing at the best of times. Bradley Beer of BMT will walk you through the ifs and whens of property depreciation.