Tax Strategies

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

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.

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.

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). 

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

Managed investment trusts (MITs) are able to invest in affordable housing, allowing investors to receive a 60% CGT discount on any capital gains made.

Using the entertainment facility leasing provisions of the FBT Act to make owning and operating a boat or yacht as tax effective as possible.

If your business has a turnover greater than $2 million then to qualify for the small business CGT concessions (and potentially pay no tax on your business sale) you need to pass the $6 million net assets test. 

The sole trader business structure involves the individual personally operating their business. A sole trader in Australia can earn $18,200 before starting to pay any tax.

This strategy involves having a company’s ordinary shares owned by a family trust structure (instead of the individual directors).