The Government is planning to remove the immediate tax deduction for depreciating assets costing less than $6,500 and the accelerated depreciation allowances for motor vehicles which are currently available to small businesses (i.e. businesses with an annual aggregate turnover of less than $2 million).
Giving your employees the opportunity to purchase a vehicle under a novated lease arrangement provides them with the most tax-effective way to buy a car of their choice for their own use – and at no cost to the business.
The Federal Election has come and gone, leaving the result most business owners and investors were expecting but will the confidence instilled by a more stable Government bring the green shoots Australia needs?
Prosperity Advisers is planning for substantial growth in 2014 despite the tight economic conditions. The expected increase in operations has prompted a move recently to larger custom designed premises in Elizabeth Street.
Well maybe not Ruslan Kogan himself, however his brash approach to business and enthusiasm for challenging the status quo through leveraging the internet is being embraced by a whole new wave of entrepreneurs.
John Manuel, Director of Financial Services has recently been named as one of five national finalists in the 2013 Australian Private Banking and Wealth Awards under the category Outstanding Wealth/Investment Adviser.
The last quarter, and more particularly, the last month has seen a fairly negative bias across most Australian and international equity markets.
Recently I had the pleasure of attending a private luncheon with Sally Pearson and what I saw was an inspiring woman who has been on an incredible journey to become the Olympic Champion she is today. Her candid and down to earth conversation with us led me to think about the ingredients of her success and how similar they are in business.
With less than two weeks until the end of the financial year and after a federal budget designed to take away a bigger share of income than in previous years, there is no better time to put some effort into year-end planning.
There is less than a month until the end of the financial year and following on from a very tough Federal Budget this is shaping up to be a very important year-end for tax planning.
As potentially the final act plays out in Treasurer Wayne Swan’s Federal Budget performances, it is perhaps fitting to ask the question – was this long drama a comedy or a tragedy?
Many Australians who are either approaching retirement or have permanently retired from the workforce are running ‘Account Based Pensions’ through their superannuation structures. It is important to understand the rules of running an Account Based Pension in order to avoid potential taxation penalties in the future.
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