It has long been an accepted standard that the auditor of an SMSF needs to be independent of that fund and be a third-party entity to the SMSF.
Tax invoices are an essential element of Australia’s taxation system. And serve both to collect tax revenue related to the goods and services on which GST is levied as well as record the credits that are claimable by eligible businesses.
Did you know that if you take out a loan to purchase a rental property, you can claim
the interest charged on that loan, or a portion of the interest, as a deduction?
The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of a person.
If you are an employee working from home or a business owner who runs your business from home, you can request for a deduction.
Due to the prevailing situation of COVID-19, the government has decided to temporarily extend the access of instant write-off up to $150,000 for small businesses till 31st of December 2020.
