May
PERSONAL SERVICE INCOME
When an individual receives income that is mainly a reward for his/her personal efforts or skills, they may fall within the Personal Service Income (PSI) rules. To be excused from the rules, the busin...
May
TAX ON GOVERNMENT ASSISTANCE, ALLOWANCES AND PAYMEN
As an individual taxpayer if you received any government assistance, allowances and payments you are entitled to a beneficiary tax offset. So if you are getting one or more number of allowances, benef...
May
DEDUCTIONS FOR GIFTS AND DONATIONS
Gifts and Donation As a citizen of Australia you may have some confusion whether tax is deductable or not for the donation or gift you make to an organisation. Claim in such deduction is applicable ...
May
DEPRECIATION ON YOUR INVESTMENT PROPERTIES
Your home is usually exempt from tax. But if you have an investment property there may be implications for income tax, capital gains tax and goods and services tax (GST). Depreciation is the reductio...
May
HOW DOES SUPERANNUATION AFFECT VARIOUS INSOLVENCY ADMINISTRATIONS?
Act regarding superannuation defines how superannuation guarantee charges affect various insolvency administrations. From 31 December 2007, employees of companies that go into liquidation, voluntary a...
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