This strategy involves employee’s salary sacrificing $1,000 of wages income (which is taxable) for $1,000 of employer provided goods or services (which is tax free). The goods or services provided by the employer must be same ones as they sell to their customers. So a clothing retailer for example, could provide $1,000 of free clothing…
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Average weekly pay: $804 Employment size: 120,000 Future growth: Strong Skill level Certificate II or III Waiters serve food and…
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In ancient times, salt was essential to preserve food and maintain people’s health. Humans require salt in their diet as through sweating their body loses salt every day. If this salt isn’t replaced then the resulting sodium deficiency can cause weakness, fatigue, vomiting, dizziness, shock, and even death. A…
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The recent Panama Papers leak revealed how the global elite use offshore companies in tax havens to send money abroad to keep it away from their future exes. These high-flyers are seeking to make sure their soon-to-be ex-wives and husbands don’t obtain half of their fortunes after a breakup. Spouses in divorce proceedings often use…
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Objectives: John James, a young employee electrician, visited his Ellenbrook, WA accountant to prepare his 2017 tax return. During discussions John talked about the difficulties of being a sole income family, and how he would like to increase their family cashflow and save tax. Facts: $98,540 wages income. Wife (not working) and one…
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Average weekly pay: $6,000 Employment size: 13,200 Future growth: Decline Skill level Bachelor degree or higher Pilots fly aeroplanes to…
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A hearth is a brick or stone-lined fireplace used for heating and cooking food. The word ‘hearth’ derives from an Indo-European root, ker, referring to burning, heat, and fire. For centuries, the hearth was the central and most important feature of a home and from this originated the saying, ‘keep the home fires burning’. A…
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Many frauds involve using tax havens, as their confidentiality and secrecy aid fraudsters. In law, fraud is the deliberate deception to secure unfair or unlawful gain or to deprive a victim of a legal right. The purpose of fraud may be a monetary gain or other benefits, such as obtaining a driver’s licence or qualifying…
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Work-related counselling provided to employees (and their associates) in order to improve or maintain their efficiency at work or prepare them for retirement will be tax deductible and FBT exempt. It can be provided as individual or group counselling and can be related to matters such as: Quit smoking programs. Weight watches programs to lose…
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Average weekly pay: $250 Employment size: 4,500 Future growth: Very Strong Skill level Bachelor degree or higher An author…
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2