There a four methods of claiming car expenses. This post looks at the Log Book method of claiming work related car expenses.
(See also Rate per Km; 12% Original Cost; 1/3 of Actual expenses)
In most circumstances the log book method offers the most attractive deduction for work related car expenses.
Using the ‘logbook’ method, you work out [...]
Following up on our previous post regarding changes to the Medicare Levy Surcharge in 2009, a modified Bill has passed through the Senate.
For the 2009 year, Medicare Levy Surcharge income thresholds have changed from $50,000 to $70,000 for singles and from $100,000 to $140,000 for couples and will rise annually in line with inflation. The [...]
The Australian Securities and Investment Commission (ASIC) manages a National Names Index, which is an index of corporate and business names, both federal and state.
It is very easy to use and provides results on business names (each state has its own business names register), both currently registered and expired business names, and registered, reserved and [...]
Not every tax break is DODGY
Since property marketing agents began promoting investment property and negative gearing as a means to attaining financial freedom during the mid nineties there has been a glut of property books and property investment books. You could be forgiven for labeling slick marketing campaigns on how to be a property investor [...]
Ifyou have a tax debt and cannot pay by the due date, you can phone the ATO’s automated self help service and apply to:
make a late payment, or
pay the debt by instalments over a specified period.
The ATO’s new self help service operates 24 hours a day, seven days a week and can be [...]
Ifyou have a tax debt and cannot pay by the due date, you can phone the ATO’s automated self help service and apply to:
make a late payment, or
pay the debt by instalments over a specified period.
The ATO’s new self help service operates 24 hours a day, seven days a week and can be [...]
The Prime Minister, Mr Kevin Rudd and Federal Treasurer, Mr Wayne Swan, made a press release today relating to Australia’s economic security strategy as a response to the global financial crisis.
The press release included announcements of additional financial support for pensioners, families, jobs and first home buyers (go to this link for PM’s press [...]
Helping people build an investment property portfolio who have never had one.Clients asking for information on investment property are surprised to learn that an investment property can be acquired for as little as a car payment. We refer to it as the “gap” – the out of pocket amount after receiving rent, paying investment property [...]
Tax depreciation on older investment rental properties is usually less than newer properties for two reasons:
1. As depreciation is based on the original cost of construction of an investment property a newer house will always produce a better tax result.
2. Tax deprecation on investment properties constructed prior to 17 July 1985 are further limited as [...]
One reason for solid growth in property values in Australia in recent years is the number of people wanting to become a property investor.
People want to know how to be a property investor because they believe the key to financial freedom is to invest in safe assets, using equity in their own homes and other [...]
