A new car, a new way
A novated lease is an agreement with your employer and a finance company that allows you to lease a new or used vehicle through salary packaging. This means that part of the vehicle purchase and all running costs are paid for with your pre-tax income, making the arrangement very attractive in some cases. In determining […]
Rumour has it…
There are significant rumours that the Budget in May will have an impact on superannuation benefits and contributions. Commentators are suggesting a hat trick hit to the high income earner. That being a further 15% tax on contributions (Div 293 tax), as well as reducing the income threshold from $300,000 to $180,000 and restricting contributions […]
Going the Extra Mile…
The most common method of claiming car expenses is the set rate method aka the ‘cents per kilometre method’. It’s simple, easy and in the eyes of many a taxpayer absolutely brilliant as no receipts or log book are required. All you need is a reasonable basis as to how you arrived at the amount […]