‘Tis the season to be… giving tax-deductible gifts
With Christmas just around the corner, you may (or may not) be thinking about how to thank your staff for their hard work this year. Hosting an extravagant Christmas party is a great idea, but there are a few things to remember when it comes to tax. Any costs involved with throwing a party fall under entertainment expenditure which is generally not tax deductible. It may also be subject to fringe benefit tax (FBT) if the cost per person exceeds $300 (GST inclusive), which does not come under the minor benefits exemption.
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A Labor win - your loss?
With Liberal frontbenchers across Australia falling on their swords and Bill Shorten licking his lips, Labor are expected to romp home in the 2019 Australian Federal Election. A Winx-like victory if ever there was one - albeit a whole lot less entertaining.
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New fast tracked corporate tax cuts
If your company is an eligible base rate entity, there’s good news on your corporate tax cuts timeline scenario. And if you’re an unincorporated entity, you’re in for an increased income tax offset.
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ESIC tax incentives for angel investors
Considering investing in an early stage investment company (ESIC)? Or maybe you’re a potential startup wondering about ESIC tax incentives. Either way, here’s a brief rundown on both ESIC tax incentives and the qualifications for ESIC eligibility itself.
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