The times you cannot claim GST credit

By Roger 2 February 2021Assets, BAS, Bookkeeping, Business, Can and Cannot, Company, GST, Record-Keeping

GST credits you cannot claim You can claim GST credits for most business purchases. However, some things are GST-free or that you can't claim for various reasons. If your suppliers…

Motor vehicle expenses for Business owner

By Roger 26 December 2020Business, 2020 Tax Tips, Assets, business structure, Cars, Company, Deductions, Depreciation, Expenses, Record-Keeping, Tax Tips

Motor vehicle expenses Every business owner would ask: Can I claim my petrol? Or repairs of my car? This information will help you when claiming a deduction for motor vehicle…

Run my business from home – CGT implications and Record-Keeping

By Roger 21 December 2020Business, Assets, business structure, CGT, Company, Deductions, Expenses, Home Office, Individual, Mortgage, Properties, Record-Keeping, Rent, Tax Tips, Trust

What record do you need to keep when running a business from home? What if I sell my property? What's the CGT implications? Records you need to keep You need…

Run my business from home as Trusts and companies

By Roger 20 December 2020Business, business structure, Company, Deductions, Director, Division 7A, FBT, Fringe benefits, Home Office, Legal Entity, Loan, Properties, Rent, Tax Tips, Trust

Trusts and companies If you operate your home-based business as a trust or company, the business should have a genuine, market-rate rental contract (or similar agreement) with the owner of…