Business Articles

Calculating the cost base of real estate

To calculate a capital gain or capital loss, you need to know the cost base of your asset. The basic rules are the same for all assets, but some additional rules apply to calculating the cost base or reduced cost base of real estate. There are a few rules to keep in...

Work-related Travel Expenses

In a general rule, travel expenses which are relevant to gain assessable income are deductible under s8-1 of ITAA to the extent that the expenses are not in a private or capital nature.Travel within Australia:A travel diary or similar documents are required for travel...

Considering An Accounting Software?

Managing your paperwork “more regularly” and “systematically” will surely save you a lot of time and tax bills.Managing your small business is hard enough and staying on top of your finances is even harder. From sending invoices to paying bills, tracking expenses,...

Running your business

Taxation obligations is important when starting up a new business.If you were employed before you started your business, you’ll find that your tax affairs now become a lot more complicated. Various federal, state and local government taxes and rates can apply,...

Meal Allowance

Overtime Meal AllowanceA meal allowance claim can only be claimed if the taxpayer receives a meal allowance from the...

read more

Car Deductions

Work-related car expenses (2 methods): 1. Cents / per km method: maximum 5000km. You do not need written evidence but...

read more