Claiming interest expenses for rental properties

Claming interest expenses for rental properties Claiming interest expenses for rental properties Interest is a common deduction claimed by taxpayers. Generally, interest is seen as being inherently deductible where it is incurred in gaining or producing assessable income. An established factor from court cases is that the deductibility of interest depends on the purpose of […]

Succession planning for family businesses

Succession planning for family businesses For most family businesses as well as private groups, succession planning (sometimes known as transition planning) involves considerations around the eventual sale of your business, or the passing of control of it to other family members when you retire. Depending on your circumstances, this may include realising assets and making […]

Answers to COVID-19 work-from-home expense questions and CGT concerns

Answers to COVID-19 work-from-home expense questions and CGT concerns Answers to COVID-19 work-from-home expense questions and CGT concerns There are many questions being asked lately about claiming expenses when forced to work from home over the COVID-19 period – plus a lot of concern about any consequent capital gains issues when later selling a property […]

Selling taxable Australian property? You may need a clearance certificate from the ATO!

Selling taxable Australian property- clearance certificate If an Australian resident is considering selling property, they should apply for an ATO clearance certificate. If a property vendor does not apply for a clearance certificate and present it to the purchaser, the purchaser is required to withhold 12.5% of the purchase price for CGT purposes on properties […]

JobMaker hiring credit: what you need to know?

JobMaker hiring credit:what you need to know? The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating […]

Getting a tax valuation from the ATO

Getting a tax valuation from the ATO Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value (and therefore the tax that applies to it) may need to be determined. Many tax laws require the taxpayer to determine the market value of something. Common instances […]

成立自我管理养老金

Company Set Up Company Set Up Company is a separate legal entity which offers limited liability to shareholders. A private (proprietary) company will be address as XXX Pty Ltd and a public company will be address as XXX Ltd. Advantages of a company include that:• liability for shareholders is limited• shareholders’ ownership can be transferred […]

生意结构规划

Company Set Up Company Set Up Company is a separate legal entity which offers limited liability to shareholders. A private (proprietary) company will be address as XXX Pty Ltd and a public company will be address as XXX Ltd. Advantages of a company include that:• liability for shareholders is limited• shareholders’ ownership can be transferred […]

生意注册

Company Set Up Company Set Up Company is a separate legal entity which offers limited liability to shareholders. A private (proprietary) company will be address as XXX Pty Ltd and a public company will be address as XXX Ltd. Advantages of a company include that:• liability for shareholders is limited• shareholders’ ownership can be transferred […]

Tax planning & advice

Tax planning & advice   How can you keep up with the ever-changing rules & regulations while working so hard on your business? At ML Tax Solution, we will do all the hard work for you. We will deliver the most updated news in our weekly newsletter and articles. Contact us on info@mltaxsolution.com.au or 03 95338980 […]