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…

Running a business from Home

By Roger 15 December 20202020 Tax Tips, Business, Company, Deductions, FBT, GST, Home Office, Properties, Tax Tips

Can I run my business from home? What expenses can I claim? Short answer: yes, you can run a business from home. However, What expenses can your business claim depends…

Take money out of the company for private purposes

By Roger 13 December 2020Business, Company, Director, Division 7A, Loan, Shareholders

Director loan and Division 7A If a Director or Shareholder take money out of the company or use its assets for private purposes, an unfranked, deemed ‘Division 7A’ dividend can…