Roydon Snelgar

Taxi Drivers

29 October 2019

Average weekly pay:        $950   Employment size:             54,900   Future growth:                   Very Strong      Skill level                              Certificate II or III  Taxi drivers drive motor cars to…

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Is Guam a Seductive Tax Haven or an IRS Nightmare?

22 October 2019

      Capital city:                Hagåtña Currency:                    United States dollar (USD)     Population:                162,742    Language:                  English     GDP:           …

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Can a Racehorse Beat the ATO?

14 October 2019

The first tax issue to consider with owning a racehorse is whether you are operating as a hobby or a business. Generally, it is difficult to demonstrate to the ATO that you have a racing business unless it is associated with breeding or training activities and is of significant scale. The tax benefits of owning…

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Case Study: LAFHA Saves $20,130 Tax

8 October 2019

    This is a real client of a Queensland practice subscribed to the TaxFitness programme. This shows the impact of just 1 strategy. Background:  Thomas is a contract plumber who lives in Newcastle and gets contract work in Sydney. Facts: Thomas has been offered a 12-month contract in Sydney at $133,000 pa. He typically…

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Shelf Company

1 October 2019

A shelf company is a company that has not traded and historically has had no activity. In the past it could take up to two weeks to incorporate a company, yet people often needed a new company quickly, so providers of company registration services would register companies and have them 'sitting on the shelf', ready…

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Export Market Development Grants Scheme

24 September 2019

    The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters. Administered by Austrade, the scheme supports the export of intellectual property and know-how outside Australia. The EMDG scheme:     Encourages small and medium sized Australian businesses to develop export markets. Reimburses up…

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Top 10 Tax Strategies for Rental Property Investors

16 September 2019

These 10 tax strategies apply to rental property investors produce the biggest tax savings (on average). Family trusts – Provides asset protection, income splitting, 50% CGT discount & flexibility. Refinancing the family home – Ideal when renting the ‘old’ family home. Negatively gearing the family home – Asset protection, capital growth & tax savings. Holiday…

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Tax Strategy | Establish a Foreign Company

10 September 2019

For Australian residents who wish to conduct a trading or investing business overseas, this strategy involves incorporating a company overseas. Typically, the overseas company will be incorporated in a country with lower tax rates than Australia, and have foreign directors. If the foreign incorporated company ensures its Central Management & Control (CM&C) is overseas (and…

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Police

3 September 2019

Average weekly pay:              $1,600 Employment size:                   67,400 Future growth:                        Strong Skill level:                                  Associates degree…

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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"

- Bono: U2