Category Archives: Tax

Deductions for working from home

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Working from home: What deductions can you claim?

For a while now, the ATO has been concerned about tax deductions individuals have been claiming for home office expenses.  We guide you through what you can and can’t claim if you work from home. (more…)

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FBT: Understanding the misunderstood tax

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FBT: Understanding the misunderstood tax

We’ve outlined the key Fringe Benefits Tax (FBT) hot spots for employers and employees.  (more…)

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Are you at risk of losing your Main Residence Exemption?

AdobeStock 164141018 2 1 - Are you at risk of losing your Main Residence Exemption?
Why ‘property flipping’ is the next ATO target

The tax law does not allow you to ‘flip’ a property tax-free even if you are living in it. Most people think that they can move in to a property, renovate it, and then sell it without paying tax. The main residence exemption – the exemption that protects your family home from tax – does not apply if your primary purpose is to ‘flip’ the property for a profit. The fact that you are living in the property does not mean it’s exempt from tax. (more…)

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Selling a Property

CGT withholding rules
What everyone selling a property valued at $750k or more needs to know

Every vendor selling a property needs to prove that they are a resident of Australia for tax purposes

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8 Strategies to Improve Your Bottom Line

Stop! Do not read this article until you have considered this – Give yourself a score out of 10 on your ability to implement business strategies over the past 12 months. Now lets see if these 8 strategies to improve your bottom line offered by Gold Coast Accounting Firms have been implemented in your business.
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Getting it right for Christmas

Marry Christmas
Don’t start the New Year with the Taxman wanting his share of your Christmas generosity.

Staff Gift Giving – as an employer unless you have an appetite for Fringe Benefits Tax (FBT) like Clive Palmer you may need to read on. (more…)

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Matthew Hicks Opens the Doors at Drive Accountants

e Doors at Drive Accountants
It is with great excitement I officially introduce you to Drive Accountants!

Drive Gold Coast Accounting Firm is a business concept I have been working on for some time and with the new financial year upon us it is officially time to ‘open the doors’. (more…)

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