by Camden Professionals | Oct 19, 2023 | Capital Gains Tax (CGT), Small Business, Small Business Tips
The small business CGT concessions allow you to reduce, disregard or defer some or all capital gain from an active asset used in a small business. The 4 small business CGT concessions include the: small business 15-year exemption small business 50% active asset...
by Camden Professionals | Oct 18, 2023 | Capital Gains Tax (CGT), Small Business, Small Business Tips
Did you find working from home during COVID-19 lockdown to be a success? Are you considering giving up your leased commercial business premises to instead run your business from home? This choice may result in the Australian Taxation Office taking a slice of the...
by Camden Professionals | Oct 3, 2023 | Privacy Act, Small Business, Small Business Tips
Around 2.3 million small businesses face new obligations around the handling of personal information after the government said it would remove a current exemption from the Privacy Act. The overhaul would also remove a current policy exemption for businesses with...
by Camden Professionals | Oct 3, 2023 | Income Tax Returns, Small Business, Small Business Tips, Tax Deductions
Did you know that you may be able to claim tax expenses for certain travel costs if your job requires you to stay away from home overnight? The good news is that accommodation expenses, meals, and other incidental costs can potentially be tax deductible when traveling...
by Camden Professionals | Sep 25, 2023 | Small Business, Small Business Tips
** Note that the $20,000 energy incentive is draft legislation at this stage. The federal government has outlined its legislative plan for the Small Business Energy Incentive, framing expectations around the $20,000 ‘bonus’ tax deduction while excluding high-cost...
by Camden Professionals | Sep 15, 2023 | Small Business, Small Business Tips
When starting your own business, you must employ the right people, build relationships with good clients, and market your business. However, considering how your business should be structured and whether it can effectively protect your business and personal assets may...
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