Categories for Blog

Vacant land deduction changes

Legislation has recently passed through Parliament which prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land and will certainly affect Mum & Dad property developments. Previously, if you bought vacant land with the intent to build a rental property on it, you may have been able to claim tax deductions for expenses incurred in holding the land such as loan interest, council rates and other ongoing holding costs. The new laws, aimed predominantly at Mum & Dads (individuals, closely held trusts and SMSFs), prevent these deductions from being claimed. Since the new laws apply retrospectively to losses or outgoings incurred on or after 1 […]

10 Dec 2019 Accounting & Tax

On The Money – June 2019

Please read our June 2019 issue of ‘On The Money’, a quarterly newsletter with content on hot topics for small business owners including the latest marketing techniques and business automation tools, tax planning ideas, the latest apps for business and wealth creation ideas.  CLICK HERE TO READ ‘On The Money’ June 2019 This edition features information on: 2019-20 Federal Budget highlights Tax changes for individuals Small & medium business tax Superannuation changes Indirect tax Year End tax planning Investment property renovation tax tips Before you buy a business Local search for small business

9 Jun 2019 Accounting

Will My Nine Year Old Daughter Own A Driverless Car?

Last night, I sat down on the couch with my nine year old daughter, Isabella, as we have done after dinner for many years.   This time was different though, because instead of reading a school book or a fairy tale I decided I was going to try and teach her about life. Well I know life means different things to different people. We all have different goals and dreams that we want to achieve. But how could I teach my child about life according to what I have learned over 20 years.   Upon reflection, I thought to myself, isn’t that what I wanted from my mother and father when I was growing up, for them to teach me […]

10 Oct 2018

Tips For Business

Let’s face it, being an entrepreneur is tough. It’s a risky endeavour, but comes with the dream of big rewards. Below are four tips to be a successful entrepreneur. We can’t guarantee your success, but I can help steer you in the right direction. The rest is up to you!   Cash Flow Without cash flow, your business will not be successful. Entrepreneurs are known to be big dreamers and fall deeply in love with their product or service. However, if there is no market for what you are selling you will not be able to generate enough cash flow for your business to survive. The crucial step in generating income is to sell a product or service that people […]

21 Sep 2018