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2017 Superannuation Changes

Price Roberts + Co — Fri, 21 Jul 2017 14:19:39 +0000

The main superannuation changes from 1 July 2017 are: From 1 July 2017 rental property owners will be unable to claim a tax deduction for travel expenses related to their rental property. Unfortunately this includes all travel costs eg. to inspect the property  A reduction in the concessional contribution limit to $25,000; Greater flexibility […]

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2017 Federal Budget Tax Issues

Price Roberts + Co — Fri, 21 Jul 2017 13:58:05 +0000

Rental property travel expenses no longer tax deductible From 1 July 2017 rental property owners will be unable to claim a tax deduction for travel expenses related to their rental property. Unfortunately this includes all travel costs eg. to inspect the property, collect rent, perform repairs, collect replacement items or meet with a property manager/tenant. […]

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2017 Tax Planning

Price Roberts + Co — Fri, 21 Jul 2017 13:41:17 +0000

General concepts of tax planning involve: Delaying the derivation of income – you might not deposit income if on a cash basis, or delay invoicing customers until 1 July if on an accruals basis, of recognising the derivation of income; Bringing forward deductible expenses or losses – consider buying items a little earlier than needed […]

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Year-end Tax Planning 2016

Price Roberts + Co — Fri, 01 Jul 2016 12:24:17 +0000

A taxpayer might consider: Deferring income into a latre tax year; Whether a lump-sum receipt is really income for services to be provided in a following year; Bringing forward deductible expenses or losses; Minimum pension amounts required to be paid to a member of a super fund who is in pension phase; Tax deductible gifts/donations […]

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December 2012

Price Roberts + Co — Wed, 19 Dec 2012 05:07:23 +0000

Landlords, the ATO and rental deductions One in seven taxpayers in Australia is a property investor. Each year residential landlords claim a total of around $5 billion in rental losses. Accordingly one can understand the Australian Tax Office’s (ATO) close scrutiny of the deductions claimed by landlords. But a recent case before the Administrative Appeals […]

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