ASR Partners Tax and business advice blog

While there have been significant announcements of tax changes by the Government and in the budget, it is important to separate the actual changes that have received royal ascent and are now law from proposed changes that are yet to become law. Reduction in the Company tax rate. The most important change for small business is the reduction in the corporate tax rate from 28.5% to 27.5% for businesses with a turnover of less than $10 million. The main difference between this law and the original p

So you have incorporated a new company and signed all the documents and put that all important certificate of registration in its folder. You are excited and your business cards and stationery look real cool. You have registered your company’s for ABN, GST and Tax File Number and you have your payroll registration. A brief review of all the documents and all finished. A year later you purchase equipment and sign a lease in the company’s name. You even purchase a block of land with the view o

It always surprises me when potential business owners establish their new business without doing sufficient research into the industry. The requirements for a successful business are different for every industry. You need to research these requirements and make sure that you understand what will be required to succeed. The smaller your budget the more carefully you should consider the requirements before you invest your hard earned dollars in a new venture. Failure to do your due diligence is ex

Interest in the Sydney and Melbourne property market is at an all time high as record low interest rates continue to encourage investors to purchase investment properties. Among these investors, a significant number are not claiming the maximum deductions available. According to the Managing Director of BMT Tax Depreciation, Bradley Beer, only 20 per cent of investors claim the correct deductions available from property depreciation. As a non-cash deduction, meaning an investor does not need to