A fully maintained associate lease is an agreement where an associate of the employee (typically spouse or partner), leases a fully maintained car to the employee's employer. Under the fully maintained operating lease, the associate agrees to incur and pay for the vehicles' running costs (e.g. fuel, repairs, insurance, and registration). The employer then provides…
British working holiday visa holders in Australia have been forced to pay a flat rate tax higher than Australian residents without the tax-free threshold. The tax has been overturned as an English backpacker took Australia to court and won the favour of our High Court. The high court made the decision because the international…
Small adjustments to our spending habits executed over our working life can have significant impacts on our retirement wealth, regardless of how little we earn. Take Susan for example who earns $750 per week. She rents an apartment in Perth and pays $400 per week in rent. She spends $200 on food and $150 on…
If your accountant says you can legally save tax by storing your money in places inhabited only by penguins, seals and seabirds, red alarm bells should be ringing in your head. It’s time to find a new accountant. Whilst having money in overseas accounts is not necessarily against the law, deliberately evading paying tax by…
You don't have time to market your services to your clients and contact list. Our automated client newsletter does all the hard work for you: We write the content. We send the campaigns. Just sit back and watch the phone ring! Here are 5 ways to use our automated newsletter: Fully automated – Simply sign up your…
A taxpayer can claim a deduction for the cost of travel to obtain tax advice. This travel includes: Using a taxpayer's vehicle to visit their accountant's office. This can be calculated on a cents per km basis. Out of pocket transport costs incurred, such as airfare or taxi fare. Accommodation and meals incurred visiting their tax agent. (This…
If you have a subscription service such as TaxFitness that allows you to use newsletter content to send to your own clients, there is a very easy method to import the content into your own MailChimp account. If you don’t have a free Mailchimp account, sign up with Mailchimp here, otherwise proceed to step 1.…
The Pandora Papers are 11.9 million financial records (2.94 terabytes) of shell companies and trusts leaked online from around the world. The records were shared online by the International Consortium of Investigative Journalists (ICCIJ). The leak opens our eyes to where the world’s politicians and super-rich keep their money. It turns out, tax avoidance through…
The average engagement fee for a real estate agent to sell a property is $15,000. The pros of using a real estate agent are: Reach more potential buyers. Get the best offer from interested parties. Industry knowledge and advice e.g., know what your house is worth and how to get the most out of the…
In the good times when there is a huge demand for a particular resource, it’s human nature to get the sense that demand is limitless. But economic principles and history show us that this is never the case. When demand is strong, we tend to ramp up production and everyone gets in on it. And then,…
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2