With 1,001 other things to think about, small business owners can often let valuable tax claims slip through the cracks. We review some of the changes to depreciation and other deductions that small businesses can claim.
Public rulings are issued by the ATO on all manner of tax matters, and deal with priority taxation issues that have been found to require clarification. As such, many public rulings may have already answered your own tax questions and concerns.
Have you heard of a "transition to retirement" arrangement? This is one way to access some of your retirement savings but still be able to earn an income through employment. We also look at the major changes to employer superannuation obligations, list the top 10 super funds in terms of the lowest expenses for members, and discuss the growth versus income options when investing.
The fast speed age in which we live the good thing about how far we've come with communication technology is that, as a business owner, you have the power to define why you are in business, what's important to you about what you do, and use that clarity and passion to transparently connect with your market. The internet is undoubtedly the biggest and best information resource available. Irrespective of where you are and what you do, you can use your PC or any device to stay up to date. In the spirit of communicating our own 'why', we now have some excellent tools which help you to effectively organise the information flow and help you stay informed, so feel free to click on your favourite(s) below to Like or Follow GJB for a regular shot in the arm of our news and updates as they happen.
Please CLICK HERE to open this month's Client Information Newsletter which covers the following:
Investing: Growth versus Income: The decision whether to invest for growth or to invest for income will depend on the personal circumstances of the individual.
What small businesses can claim this year: As a small business owner, there are a plethora of tax benefits, incentives, concessions and offsets that can potentially be used.
A-Z on public rulings and how they can help you: Public rulings deal with priority issues that require clarification, so you may find that many of your concerns are shared by others and may have already been addressed.
Changes to employers' super obligations in 2013: With the new year well underway, businesses should watch out for these changes, all of which are effective from July 1, 2013.
Ease into retirement, but still earn income: There is a provision under the superannuation rules to access some of your retirement savings held in your super fund under a "transition to retirement" arrangement. Under this plan, a super fund member can ease into retirement by reducing their working hours without reducing their income.
Top 10 cheapest super funds revealed: SelectingSuper has compiled a list of the best fee deals for superannuation funds calculated for a member earning around $50,000 per annum with $50,000 in their fund's default investment option.
All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. Should you require more information regarding any topic touched upon in this newsletter, please feel free to contact GJB on 02 9686 3130 for advice.