Jun 062015
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
- 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% for small companies and 5% 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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