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About Theresa Allery

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So far Theresa Allery has created 52 blog entries.

ATO to Focus on Small Business Tax Returns for 2021-2022

By |2022-07-04T11:46:38+10:00July 4th, 2022|Business, News, Tax|

In a release last 21 June 2022, the ATO said it will be focusing on small business tax returns for 2021-22. In particular, the ATO is concerned about: deductions that are private in nature and not related to business income, as well as overclaiming of business expenses (especially for taxpayers running a home-based business);

3 Things Business and Entity Owners Must Do Before 30 June

By |2022-06-06T10:53:51+10:00June 6th, 2022|Business, Companies, Tax|

As an owner of a business or entity structure, there are certain actions that need to be taken prior to 30 June to avoid adverse tax consequences. 1. PRIVATE COMPANY (“DIV 7A”) LOANS Where a shareholder or associate of a private company takes money out of the company, this may be subject to the ‘Division

Tax Planning Strategies for Business

By |2022-05-23T12:21:38+10:00May 23rd, 2022|Business, Tax, Uncategorised|

Tax planning is so important for business owners.  By taking action before 30 June, business owners have the time and opportunity to implement a number of strategies to minimise tax and take advantage of any tax concessions available. The strategies to be implemented does depend on the circumstances of each business.  This article explores

Tax Planning for Small Business Entities

By |2022-05-23T12:04:47+10:00May 23rd, 2022|Business, Companies, Tax, Uncategorised|

IS YOUR BUSINESS A “SMALL BUSINESS” ENTITY? Small businesses can access a range of tax concessions from the ATO. To qualify as a “Small Business Entity”, the business must have: an aggregated turnover (your annual turnover plus the annual turnover of any business connected / affiliated with you) of less than $10 million; and 

4 Ways to Reduce Your Personal Tax Using Super

By |2022-05-10T12:33:48+10:00May 10th, 2022|Business, Super, Tax, Uncategorised|

While you might not be flush with cash now and able to put large amounts into superannuation, it’s important that you are aware of what is possible to maximise your super balance and possibly reduce your tax at the same time.   DEDUCTIBLE SUPER CAP OF $27,500 FOR EVERYONE CARRIED FORWARD CONTRIBUTIONS SPOUSE SUPER

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