The Sharing Economy

  The sharing economy connects buyers (users) and sellers (providers) through a facilitator who usually operates an app or a website. There are many sharing economy websites and apps. If you provide goods or services through any of them you need to consider how...

Health Insurance yes or no?

The great debate continues as to whether to have private health insurance or not? and is it beneficial for tax purposes? The Medicare levy surcharge (MLS) is levied on Australian taxpayers who do not have an appropriate level of private hospital insurance and who earn...

What’s new for small businesses

Tax concession rules for small businesses have changed. The changes are effective from 1 July 2016, and will apply from your 2017 tax return. Expanded access to small business concessions More businesses are now eligible for most small business tax concessions. From...

Small Business Company Tax

From the 2016–17 income year, the small business company tax rate has been reduced to 27.5%. This lower rate now applies to small businesses with a turnover (that is, aggregated turnover) less than $10 million that are: companies corporate unit trusts public trading...