Brisbane's Accounting & SMSF Specialists

Day: September 8, 2017

Home-based small business – what can I claim?

Home-based small business – what can I claim?

Small business, Tax
The home is also the principle place of business for many taxpayers these days. Yet it can be confusing to work out what deductions you can claim if you are working from home. Here is a general summary of the typical deductions you can claim:   Expenses relating to the area of the home you use for business. By determining the area of business space used and dividing this by the total area of your home, you can calculate the percentage for business use. You can then apply this percentage to claim the following deductions:   Occupancy expenses including mortgage interest or rent, council rates, land taxes and house insurance premiums. Running costs including electricity, gas, business phone and internet costs, cleaning, repairs to plant/equipment, and furniture. &n...
Do I need a financial planner?

Do I need a financial planner?

Investment
What a financial planner does - and when it is time to see one. Accountants are fast becoming trusted advisers for many clients, especially if they specialise in superannuation funds. As a result, all accountants must now be covered by an AFS licence to provide a range of services relating to SMSFs, in order to ensure that financial planning services are compliant with the highest industry ethical standards. However, even though consumers can expect more certainty and confidence from the new certification, it can still be difficult to decide when the right time to see a financial planner is. Essentially, financial planners can help you choose investment options that maximise your returns and achieve your retirement goals.  They will assess your risk profile, and determine what typ