News 1. Why using the 20k Budget tax deduction might be the wrong decision
So, your business has a turnover under $2 million and you want to know how to use the $20,000 immediate tax deduction that's been all over the news?
Before you start spending, there are a few things you need to know.
Does your business make a profit?
Deductions are only useful to offset against tax. If your business makes a loss than a tax deduction is of limited benefit because you're not paying any tax. Losses can often be carried forward into future years but you lose the benefit of the immediate deduction.
News 2. April 2017 Newsletter
The April newsletter includes:
* State Tax Warning for Family Trusts which stems from recent legislative changes in NSW, VIC and QLD that impose a surcharge on foreigners purchasing residential land.
* Fast Growing and Start Up Businesses - What Are You Missing Out On?
* What Can I Claim as Self-Education Expenses?
News 3. The top SMSF property investment mistakes
Should your SMSF buy a property?
Liquidity, diversification and cashflow. The Superannuation Industry (Supervision) Act (SIS Act) requires trustees to take heed of these elements when making any investment. When an SMSF invests in real property, there is a risk that the trustees are putting all of the fund's 'investment eggs' in one basket and the rate of return will not be enough to meet the fund's obligations.