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…
Average weekly pay: $6,000 Employment size: 13,200 Future growth: Decline Skill level Bachelor degree or higher Pilots fly aeroplanes to…
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…
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…
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…
Average weekly pay: $250 Employment size: 4,500 Future growth: Very Strong Skill level Bachelor degree or higher An author…
One of the first recorded taxes on income was the Saladin tithe introduced by Henry II in 1188 to raise money for the Third Crusade. The tithe demanded that each layperson in England and Wales be taxed one tenth of their personal income and moveable property. The tithe was assessed by dioceses, rather than by…
Belize, located on the coast of Central America, is known in the global arena for attracting many North American drug trafficking entities. As the Belize currency is pegged to the U.S. dollar this entices drug traffickers and money launderers who want to utilise their current economic system. As Belize offers nonresidents the ability to establish…
Long service awards granted in recognition of 15 years or more service are tax deductible and FBT exempt, provided the value of the award doesn’t exceed the following specified amounts: $1,000 for 15 years’ service. Plus $100 per additional year of service. Where the value of an award exceeds the relevant maximum value, no part…
Average weekly pay: $1,150 Employment size: 88,900 Future growth: Strong Skill level Certificate III or…
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2