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Tax Strategies

From the category archives: Tax Strategies

Tax Planning for Business

Save tax with a home-based business

A home-based business will be entitled to deduct a portion of their home occupancy costs, including home mortgage interest, 2.5% building write-off, rates, rent, insurance, and maintenance.

Tax Strategy - Change PSI to personal services business (PSB)

Personal services income (PSI) is income produced mainly from an individual’s skills or efforts. It’s income that has the characteristics of employment income.

Tax deductible holiday working spaces

The cost of providing holiday working spaces will be tax deductible when provided for business purposes, not a straight-out holiday for the employer.

Top 10 Tax Strategies for Rental Property Investors

These 10 tax strategies apply to rental property investors & produce the biggest tax savings (on average).

Tax Strategy | Establish a Foreign Company

For Australian residents who wish to conduct a trading or investing business overseas, this strategy involves incorporating a company overseas.

Tax Strategies – Top 10 for Business

These 10 tax strategies apply to the majority of businesses & produce the biggest tax savings (on average).

Tax Savings Strategy 249 | Smartwatch

The ATO deems smartphones to be portable electronic devices and as such they are deemed an exempt fringe benefit when used primarily for the employee's employment.

Tax Savings Strategy 221 | Bitcoin

To avoid paying tax on any increases in the value of Bitcoin, it should only be purchased to acquire goods or services for private use.

Tax Savings Strategy 219 | Avoid the Luxury Car Tax

The luxury car tax (LCT) is a tax on cars with a GST inclusive value above the LCT threshold ($66,331 as at 2018/19). 

Tax Savings Strategy 217 | 60% CGT Discount for Affordable Housing Investments

From 1st January 2018, a 60% CGT discount applies for Australian resident individual's investing in qualifying affordable housing.
From 1st January 2018, a 60% CGT discount applies for Australian resident individual's investing in qualifying affordable housing.
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