Airbnb offers a great opportunity to rent out that spare room without the long term commitment. Or, it’s a handy way to lease a holiday home that would be quiet for much of the year. Both of these are great – but some Airbnb hosts may not realise the effects come tax time.
Are you using your vehicle in the course of your employment? What sort of travel is considered to be work related and what car deductions can you claim? Since the 2015/16 tax year there are now only two methods for calculating work-related car deductions and these are:
A few beers, a few peanuts, and the advice starts to flow. “My mate who runs a business claims every expense through his business and doesn’t pay a cent in tax”. But don’t be a fool and listen to your “pub accountant”, instead talk to your real accountant. Your Accountant will do their utmost to […]
One area that causes a lot of confusion for small businesses is whether the cost of meals (and coffees) with both potential and existing clients can be claimed as a tax deduction. And what about staff lunches? Can you take staff out for lunch to discuss business and claim a deduction?
There are many tax changes in effect from 1 July 2017. Here we provide a summary of Superannuation, Personal Tax and Business Tax changes that you need to be aware of.