Entries by synecticgroup

Tax deductions for subscriptions, special fees and levies

Many professional, business or trades people are members of an association, and during their working life subscribe to an appropriate organisation. In most cases the membership of a trade union for example, or professional association relevant to workers in a particular occupation, would qualify for a tax deduction under the general deduction provisions of the […]

Can your small business claim tax deductions for employee training fees?

Running a successful small business sometimes requires an up-skilled team. If you need your employees to grow their expertise in a particular area, spotting them for short-courses, seminars, one-day intensives, professional qualifications or a bunch of “101s” can be a worthwhile endeavour. A deduction is generally available for the costs of providing education to employees Click […]

4 rules to watch for when running your SMSF

A Self Managed Super Fund (SMSF) can be a very powerful retirement savings vehicle. It’s good for long-term wealth accumulation and asset protection within a tax-effective structure. There is plenty of scope, however, to lose your footing over some of the required (and numerous) compliance tasks. If mishandled, the potential pitfalls can work to outweigh the […]