For more than two years now (from 1 July 2016) two key tax incentives have been available for investors considering putting their money behind qualifying start-up businesses — or as the ATO has dubbed them, early stage innovation companies (ESICs).
A perennial topic regarding tax deductions is claiming expenses for a car. The following notes summarise the most salient points when it comes to claiming a deduction for motor vehicle expenses. Of course every person’s circumstances may be different, but the following covers most of the relevant information.
Being able to make claims for work-related travel expenses is generally an enviable deduction situation, and one that a good many taxpayers would like to achieve — especially given that the status of being deemed an “itinerant” worker brings with it an expectation of a lot of travel kilometres.
Tax incentive for angel investors in start-ups
Guide to making motor vehicle expense claims
The ATO is looking for personal services income diverted to SMSF’s
For certain travel expense claims, the term “itinerant” needs clarity
Self-employed? You could claim a deduction for saving for your retirement
Shares and tax: A stock market investment primer
Have you had a change in creditable purpose for GST reporting purposes?
Will new LRBA rules stymie your SMSF contribution plans?
Apportioning GST annually for business and private purchases
Claiming self-education expenses
Changing a will after death?
How to deal with SMSF trustee disputes
Your claim for a business tax loss can be denied
Let a GST credit slip through the cracks? All is not lost!
Managing tax disputes can be like wrestling with a superhero
Unpacking statute-barred debts
The proportioning rule and your SMSF: It’s all about balance
Builders: Get your taxable payments report ready before August 28
Franchise businesses and tax
Interest deductibility after income-producing activity ceases
Superannuation contributions “work test” for over 65s
2-minute quiz: Business deductions
Look before you leap with testamentary trusts
Bitcoin: Its place in your wallet or SMSF portfolio
SMSF commutation requests: How to get the green light from the ATO
Duties and taxes when you buy online from overseas
Dealing with tax and renting via Airbnb
Beware of who you share your benefits with
Is your business prepared for Single Touch Payroll?
Starting out in business? You may be able to use simpler trading stock rules
Valuations and your SMSF
Investing: Growth vs income