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Posted in Planning

Home Office Expenses

Posted on 8 July 2013
  If you carry on all or part of your employment activities from home, then you may be eligible to claim a portion of your expenses as a tax deduction. Ideally, you should have a room set aside as a home office. The area must be clearly identifiable as a place of work and used almost exclusively for work purposes. The expenses you can claim are: Heating, cooling and lighting Decline in value (depreciation) of home office furniture and fittings Dec...
Posted in: Business Structures Planning 2013 Admin Tax Obligations ATO Cash Strategy Home Office Work From Home   0 Comments

Motor Vehicle Expenses - Employees

Posted on 8 July 2013
If you use your car for work you are entitled to claim the costs of using your car to do your job as a tax deduction. You can claim motor vehicle expenses for travel between: Your workplace and an alternative workplace (eg. a clients property, place of training etc.) An alternative workplace and another alternative workplace (eg. one client’s property to another) Two separate work places (eg. when you have a second job) To and from work when you hav...
Posted in: Planning 2013 Admin Tax Obligations ATO Strategy   0 Comments

Now is the time to... Make a Budget

Posted on 1 July 2013
Think of it as a snapshot of your present situation and your future. A personal budget gives a realistic view of your potential. It provides a benchmark of your progress. It shows where you can save, and where you should trim your lifestyle to match your income. Take the reality check. Get Rich Slow. Start Now. Start Small. Achieve Real Wealth. 'Slow and steady wins the race' - Aesop...
Posted in: Business Structures Planning 2013 Admin Compliance Cash Cash flow Profit Strategy   0 Comments

Now is the time to... Seek Advice

Posted on 27 June 2013
It must be from a respected source, and balanced against your own knowledge and instincts. But seeking advice brings many rewards: it honours the giver; it enhances the receiver; it creates perspective. 'Wise men don't need advice. Fools won't take it' Benjamin Franklin (1706-1790) ...
Posted in: Growth Planning 2013 Profit Strategy   0 Comments

Net Medical Expenses Tax Offset Phase Out

Posted on 26 June 2013
  What does this mean for you? As part of the 2013-14 Budget the Government announced that it will gradually phase out the Net Medical Expenses Tax Offset (NMETO) with a "use it or lose it" system. This will mean if you do not claim the NMETO in your 2012-13 tax return, you will not be eligible for the offset in any future year. If you received the NMETO in your 2012-13 tax return, you will be eligible to receive the offset for all eligible out-of-pocket...
Posted in: NMETO Medical Planning 2013 Admin Compliance Tax Obligations ATO Strategy   2 Comments

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