Avoiding common property investment mistakes

on August 21, 2015 General with 0 comments

Being aware of the common mistakes associated with property investment can help you gain the best possible value from an investment. Property investment is a popular way to increase your wealth and secure your financial future. But changes in interest rates, fluctuations in supply and demand, and even emotional decision making processes can make managing…

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ATO focuses on rental property deductions

on August 19, 2015 General with 0 comments

This tax season will see the ATO specifically targeting extreme or inappropriate deductions made by rental property owners. While it is not uncommon to make some mistakes when claiming rental deductions, it is necessary for taxpayers with rental property interests to get their deductions and expense claims right to avoid facing harsh and costly penalties.…

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Using a corporate trustee for your SMSF

on August 17, 2015 General with 0 comments

Choosing between an individual and a corporate trustee is an important decision that arises when establishing an SMSF. Despite this decision’s significance, many SMSF members often appoint trustees without understanding the difference between the two. It is important for SMSF members to understand the advantages and disadvantages of appointing an individual or corporate trustee. Although…

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Rental Property Investors What You Can and Can’t Claim?

on July 30, 2015 General with 0 comments

    Rental properties have been on the ATO radar. With the surge in real estate sales, especially residential investment properties, the ATO has taken a close interest in the expense claims property investors make concerning their rental properties. ATO’s Radar on Rental Property Claims for 2015   The Australian Tax Office (ATO) has expanded its…

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It’s a new financial year!

on July 29, 2015 General with 0 comments

Let’s make 2015/16 the year you take control of your tax and improve your financial wellbeing. At Lee & Lee, our aim is to help private business owners and property investors to make smarter informed decisions so you can have a secure and brighter financial future.              We have prepared a simple and useful checklist…

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FEDERAL BUDGET 2015

on May 13, 2015 General with 0 comments

Power to amend fraud and evasion under The Commissioner of Taxation has been granted power to modify the time limit for assessments and testing of fraud and evasion, which normally varies between two and four years. Under subsection 170 (1), (2) and (3) of the Income Tax Assessment Act 1936 (ITAA), the Commissioner can adjust…

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FEDERAL BUDGET 2015

on May 13, 2015 General with 0 comments

R&D and other incentives The Budget has announced it will cut the corporate tax rate by 1.5 per cent for small businesses with an annual turnover less than $2 million. For small business, this will also incur additional R&D benefit, where the permanent tax benefit will increase from 15 to 16.5 per cent. Small businesses…

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FEDERAL BUDGET 2015

on May 13, 2015 General with 0 comments

Budget focus on stimulating small business activity The Budget has introduced a number of measures for small businesses designed to revive investment and support entrepreneurship and startups. Tax cuts The Government has followed through with its announced 1.5 per cent tax cut for small businesses with an annual turnover of less than $2 million, which…

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on April 29, 2015 General with 0 comments

Property Tax Specialists Accountant As Property Tax Specialists we can help you who’ve invested in property to maximise your tax refunds by implementing tax minimisation strategies. The Property Tax Specialists are an award-winning leader in the Australian taxation field, with most experienced and knowledgeable experts in accounting, business add property investing. We can help with…

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WEALTH MATTERS

on April 2, 2015 General with 0 comments

Y o u r P e r s o n a l G u i d e t o W e a l t h C r e a t i o n Make the most of transitioning to retirement As of July 1 2014, there have been some changes to the concessional superannuation contributions…

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