Any business can make a loss. You generally make a tax loss when the total deductions you can claim for an income year exceed the total of your income for the year. Your income includes both assessable and net exempt income.
Federal Budget October 2022 overview: This budget appeals to families, patients accessing medicines, renters and home buyers, and those in vocational training.
Pat Mannix is launching a new series called U R the bank! Follow each episode to find out how you can be your own bank, develop your own property portfolio, and protect your assets.
Income and tax deductions from rental properties is one of the four key areas the Australian Taxation Office (ATO) is focusing on this tax time. It’s an area that’s easy to get wrong, and needs extra care when lodging.
If there’s one thing that I have realised in over 30 years of dealing with small business, in particular growing small businesses is that it takes a long time to survive and thrive.
If there’s one thing that Pat Mannix has realised in his 30 years of dealing with small business, in particular growing small businesses is that it takes a long time to survive and thrive in business. Check out Pat’s latest video for more.
The end of financial year is fast approaching, which means it’s time to start thinking about your tax! We have 14 tax saving tips to help you prepare and manage your Business’ financial accounts throughout the year.
As a small business owner, it’s important to keep your finger on the pulse with what’s new to ensure you’re keeping up with the competition and even getting ahead with the latest in all things business!
Is it the end for Trusts? It been said that the death of trusts happened in February 2022 with the law on company beneficiaries, but is it really true or is that an exaggeration?
It may seem like the importance of record-keeping is overly stressed by us, but it’s a critical part of the wrap-up of the year-end. Good record-keeping makes it easier to meet your tax obligations, manage your cash flow and make sound business decisions going forward.
