What is the risk of insolvent trading charges?
This is the number 1 question that we are asked by clients. In the 10 plus years that I have been involved in the insolvency industry – I think I have seen 1 x insolvent trading claim go through to completion and a Director being charged for insolvent trading. In reality – Insolvent Trading is […]
Employees after liquidation
When businesses become unprofitable and are unable to service their debt, the business could be ordered to go into liquidation or administration, or be voluntarily liquidated. As the company is wound up, employees are one of the first parties to be affected and, in addition to losing their job, they’ll be most concerned about getting […]
Do I need a valuation?
Not all taxpayers may be aware of how the use of estimates can affect their annual tax bill. Estimates are most commonly used in apportioning expenses between private and business use. More important however is the use of valuations to estimate the cost of transactions that are not arm’s-length or when no actual cash changes hands. […]
Mistaken claims in rental properties
The Tax Office has found that there are some landlords who may not be entirely sure about whether they are correctly claiming their rental property deductions. In particular, it has found that many property investors are making simple mistakes that could be avoided with a little guidance. The Tax Office has identified some of the […]
Avoiding Predatory Business Loans
With online lending and cash flow loans gaining popularity among small business owners as an “easier” financing option, it’s worth being cautious and noting some of the characteristics of predatory business loans.
Share trader or investor
There’s a saying that many share market investors may have already heard: Don’t let the tax tail wag the investment dog. In other words, the best advice for your share portfolio is to base your decisions on investment merit, not on trying to save tax. Even so, there are taxation consequences for everyone with an […]
Holiday house taxes
Many of us look forward to an annual getaway, either to the beach or the bush, as the best way to unwind and re-charge after another tiring year. While having a holiday house is a luxury that a lucky few may be fortunate enough to be able to own outright, for many Australians having a […]
Negative gearing basics
Negative gearing – how it works and pros and cons Taking out a loan to raise money for an investment is a well-used tactic for many Australians. In fact, borrowing to buy big ticket items is part of financial reality – for example, how many of us could afford to buy a house out of […]
Capital deductions for rental properties
Rental property investors can claim capital works deductions for construction costs for a rental property, however there are limits imposed in relation to the dates such works were completed. The deductions are only available on residential properties if these were built after 17 July 1985. Generally, up to 15 September 1987 the rate is 4% […]
Landlord insurance
Just like we protect ourselves with life and income protection insurance, and our home with building and contents insurance, it is important to adequately protect our new investment property with not just building insurance but with landlords insurance too. Many investors make the very costly mistake of assuming that building insurance is sufficient, however building […]
