Simplified depreciation rules
24 Nov 2015
Small businesses can use the simplified depreciation rules as an alternative to the uniform capital allowances (UCA) rules to work out deductions for most depreciating assets. Business means the individual, partnership, company or trust that carries on the business activity. Small business means a ‘small business entity’, which is an individual, partnership, trust or company […]
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Small business entity concessions
23 Nov 2015
Small businesses with an annual turnover of less than $2 million may be able to access a range of tax concessions. This applies whether you operate your business as a sole trader, partnership, company or trust. To qualify, you’ll need to check whether your business is a ‘small business entity’ for the year in question. In […]
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Accessing your super
20 Nov 2015
You can access your super: when you turn 65 (even if you haven’t retired), or when you reach preservation age and retire, or under the transition to retirement rules, while continuing to work. There are very limited circumstances where you can access your super savings early. These circumstances are mainly related to specific medical conditions […]
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Super for Employers – How much to pay
20 Nov 2015
The minimum super you must pay each quarter for each eligible employee is called the super guarantee (SG). Currently the SG is 9.5% of their ordinary time earnings (OTE). OTE is usually the amount your employee earns for their ordinary hours of work. It includes things like commissions, shift loadings and allowances, but not overtime […]
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