Entries by synecticgroup

Considering a change of structure for your small business?

The final tranche of 2015 small business budget announcements have made it into law, now expanding the tax relief available for small businesses to change the legal structure of their business. This new arrangement is designed to provide greater flexibility for small businesses to change legal structures without incurring an immediate CGT liability, and allowing […]

Work-related travel expenses: Why are they on the ATO’s radar?

Many people, as employees, get their tax returns wrong in relation to claiming work-related travel expenses. The absence of hard and fast rules can makes claiming travel expenses difficult. Often the deductibility of such costs can depend on the nature of employment, the amount of time spent away from home, and whether an allowance has been received to cover the costs.

What is the right legal structure for your business?

Choosing a business structure can be tricky. How you choose to legally structure your business can have many tax, legal and financial implications. There are four commonly used legal business structures in Australia: sole trader, partnership, company and trust. The advantage and disadvantages of each should be carefully considered before you decide which one is […]