by wladvisory | Oct 18, 2019 | Monthly Tax Updates, Tax News
What types of legal expenses are tax deductible? When a legal expense is incurred in relation to the operation of a business to produce assessable income, it is generally allowable as a deduction. Exceptions are when the legal fee is capital, domestic or private in... 
by wladvisory | Sep 9, 2019 | Monthly Tax Updates
The ATO is reminding rental property owners that each year it sees some fairly common mistakes being made with tax claims made, and the outcomes that result, in regard to investment properties. It has therefore released a list of the top 10 stumbles, and how best to... 
by wladvisory | Aug 27, 2019 | Monthly Tax Updates
The ATO seems to be always looking over the shoulder of property developers to make sure they are complying with their tax obligations. The considerations facing the ATO are many and varied, but can include topics such as whether an agreement to develop and sell land... 
by wladvisory | Aug 12, 2019 | Monthly Tax Updates
When you have plans for starting a new business, one of the central decisions is which business trading structure will work best for your venture. The general problem however can be that there are both pros and cons with the main options available, so considerations... 
by wladvisory | Jul 19, 2019 | Monthly Tax Updates
An essential starting point for consideration of trust income and how that income is to be distributed is to look at the trust deed. This very central document sets out the rules and expectations for the governance and operation of the trust and the powers that can be... 
by wladvisory | Jul 7, 2019 | Monthly Tax Updates
Now that the government is unchanged, one proposed change contained in the recent federal budget that will most likely be given priority is the increase to the low and middle income tax offset (LMITO). The previously proposed (and legislated) LMITO, applying for the...