Tax Tips

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Tax Returns Central Coast – provides the following information as a service to their clients.

Out tax tips information is general in nature and for further details specific to your situation please contact our office on 02 4360 2836

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  • Accelerated depreciation is available for new equipment provided the new equipment costs less than $20,000. The window of opportunity is from 12 May 2015 to 30 June 2015.
  • Tax cuts for small business will be effective from 1 July 2015:
  • 1.5{3b6e4f32e35cd24068a1146ebf045e659ad2a2fd4f3ad927cd4e2aabfaf022f7} for small companies and 5{3b6e4f32e35cd24068a1146ebf045e659ad2a2fd4f3ad927cd4e2aabfaf022f7} for unincorporated small businesses.
  • Immediate deduction for professional expenses on commencing a new business; for example professional, legal and accounting advise.
  • Providing your tax accountant with accurate figures for turnover and business return deductions will save you money.
  • Business vehicle claims are an effective way to legally reduce your tax liability. The log book method is a very good way to achieve this. A log book is required to be recorded for a twelve week period. Once the log book is in place it is effective for five years or until the vehicle is replaced.
  • Effective record keeping and the retention of primary source documents such as bank records, invoices, receipts etc. for a period of five and a half years is essential to protect clients in the event of a Tax Office audit.
  • Central Coast small business clients can be assured that Tax Returns Central Coast-located at Killcare NSW- will provide you with a cost effective service that will result in the best possible tax outcome each year.
  • Tax Returns Central Coast take great pride in being small business specialists for the Central Coast.

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