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Tax deductible super contributions

Tax-deductible super contributions

Individuals may be able to claim tax deductions for personal superannuation contributions they make. Personal super contributions are made after-tax, not to be confused with the pre-tax contributions made by employers. This includes contributions made using inheritance money, savings, proceeds from the sale of assets, or from a bank account…

Amending fringe benefits tax return and updated exemptions

Amending fringe benefits tax return and updated exemptions

The Government has updated fringe benefits tax (FBT) exemptions to include travel in ride-sourcing vehicles under the existing taxi travel exemption. In the case that your business has been providing employees with such travel options and would like to amend your FBT returns to include the new exemption, the ATO…

Debt financing vs equity financing

Debt financing vs equity financing

Gathering funding is a challenge that almost all business owners face at some point. Financing can come in two forms – debt financing and equity financing. Debt financing is money that you borrow and plan to pay back within an agreed time frame and interest rate. Common forms of debt…