News
PAYG Income Tax Withholding Variation
Do you own a negatively geared investment property? Your employer is required to withhold tax during the year to cover your estimated tax liability from your employment income. However, those who have a negatively geared property investment will have less taxable income than their employer estimated, due to their rental property loss offsetting their employment income. In these cases, the employee does their tax and gets a tax refund for the overpaid tax at the end of the year.
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BIG tax breaks
Fantastic News, there is an increase to the aggregated turnover threshold to $10 million for access to small business tax concessions from 2016-17. This means that any businesses with an aggregated turnover of under $10 million can now ....
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The Budget Wrap 2017
The Budget was delivered last night and there is a mix of good and bad news for our clients and prospective clients at Paris Financial. I will try and zero in on the key points and give a brief comment. The very large caveat here is that all this budget information is NOT law yet but everyone should be moving and starting to think about the consequences of these changes.
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Land Tax…the forgotten tax
When you buy your first (or even second) investment property, land tax is likely the last thing on your mind. Even less likely if you are buying a new family home and have decided to keep the old one and rent it out. With land tax rates skyrocketing in some states over recent years, this can be a nasty surprise.
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Employee share schemes to help fast growth companies attract talent
Employee share schemes, if structured correctly, can be an effective way of incentivising staff by linking personal reward to company growth. They are also very useful for fast growth start-up and innovative companies that want to attract top talent but lack the capital to compete on salary alone.
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Tony Fiedler & team join Paris Financial
AP Business Advisory Services has joined the Paris Financial team. We extend a huge welcome to Tony Fiedler, Socheata Be and Deb Loughnane who are relocating to our Blackburn office.
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Tax Planning for 2016/17 Financial Year
April is a vital month for tax and superannuation planning. With 9 months of the financial year locked away significant trends or changes from the previous financial year will be well established.
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Imminent changes to crowdfunding
Crowdfunding uses internet based platforms and other forms of social media to raise funds for projects or business ventures. Generally, the party trying to raise the funds (the promoter) will engage an intermediary (the platform) to collect funds from contributors.
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