Client Tax and Super Newsletter-Feb-2019

Early stage innovation companies: Start-up businesses are generally not for faint-hearted investors, but there are tax incentives that can help. We look at two early stage business investment options.

Car claims: Also, a perennial topic of interest for tax is the ability to claim vehicle deductions, so we run through the essentials for individuals and companies.

Travel expenses: In this issue we also examine how travel expense claims can be helped along if a taxpayer can also work in the word “itinerant”.

SMSF’s: Thinking of diverting income earned through your services to your fund, to minimise or avoid tax? The ATO has issued a warning on SMSFs and “personal services income”.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.  Or book a consultation here.

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Further reading:

For more on the issue of itinerancy and travel, see taxation ruling TR 95/34. For the ATO’s early stage innovation company decision tool, see here. For the ATO’s car expenses information brochure, see here