by Canning Tax & Advisory | 29 Sep 2023 | Business Operations, Business Planning, Tax Compliance
What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners. When it comes to generational succession of a...
by Canning Tax & Advisory | 17 Jul 2023 | Business Operations, Business Planning, Tax Compliance
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000. The Small Business Energy Incentive encourages small and medium businesses with an aggregated turnover of less...
by Canning Tax & Advisory | 17 Jul 2023 | Business Operations, Business Planning, Tax Compliance
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of around $1 billion from incorrect...
by Canning Tax & Advisory | 17 Jul 2023 | Business Planning, Succession, Tax Compliance
A friend’s accountant suggested that they could reduce interest on non-deductible debt by using company cash to offset their personal mortgage, then transferring the cash back by 30 June. Is this an acceptable strategy? This might initially sound like a brilliant...
by Canning Tax & Advisory | 17 Jul 2023 | Business Operations, Business Planning, Tax Compliance
Taking on debt can help build a business. Borrowing works well when the cash generates a return in excess of the cost of the debt. Sometimes, however, leaders take on too much debt which they need to reduce while managing cash carefully. Let’s look at some ways to...
by Canning Tax & Advisory | 17 Jul 2023 | Business Planning, Succession, Tax Compliance
The cents per kilometre rate for motor vehicle expenses for 2023-24 has increased to 85 cents. This is general information only. Contact us today for an obligation free chat about your business obligations. Follow us on Facebook &...
