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Archive for category: Tax

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The low down on depreciation

If you have business assets which are expected to decline in value over time, such as machinery, motor vehicles, furniture, computers and phones, it’s likely that you would have claimed a depreciation expense.

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The low down on depreciation
( Posted in: Tax )

Company money: A guide for owners

When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right?

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 Company money: A guide for owners
( Posted in: Tax )

Temporary Full Expensing (TFE) due to finish soon!

TFE, is due to finish on 30th June 2023!

Find out more about Temporary Full Expensing in this short video where Pat Mannix of Paris Financial explains the in's and out's for eligible businesses.

Can you claim an immediate cost deduction for the business portion of your assets for this year? Click the video to learn more!

Want to chat further with our team about this topic? Feel free to get in touch with our team on: (03) 8393 1000.

 

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Temporary Full Expensing (TFE) due to finish soon!
( Posted in: Tax )

Future earnings for super balances above $3m taxed at 30% from 2025-26

The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%.

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 Future earnings for super balances above $3m taxed at 30% from 2025-26
( Posted in: Tax )

What’s the Deal with Working from Home?

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home.

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 What’s the Deal with Working from Home?
( Posted in: Tax )

U R the Bank Series | Episode #3 – Reduce Business Risk

Welcome to Paris Financial’s series: ‘ U R the bank’. In this episode, Pat Mannix will chat about Reducing Business Risk. Follow each episode to find out how you can be your own bank, develop your own property portfolio, and protect everything.

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U R the Bank Series | Episode #3 – Reduce Business Risk
( Posted in: Tax )

Have You Received a Business Support Grant?

As a small business owner, it is possible that you may have recently received a grant to support your business during difficult times.

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 Have You Received a Business Support Grant?
( Posted in: Tax )

Classifying a new worker

It is important to determine whether a new worker is classified as an employee or a contractor, as it affects tax, superannuation, and other obligations such as workers compensation insurance, as well as the worker’s entitlements.

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 Classifying a new worker
( Posted in: Tax )