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Tax Questions Answered
Question BACKGROUND FACTS QUESTIONS Answer BF can only salary sacrifice income that is earned after he notifies his employer that he wants to salary sacrifice. In the case of a bonus the notice needs to be given before the bonus “accrues”. Looking at the figures you have provided, if I understand them correctly. 2022-2023 received …
Question A client (a company) has purchased a new vehicle for use by the company. The Tax Invoice for the vehicle and the lending for the vehicle are both in the company name. However, in error, the vehicle name was registered in the name of the Director rather than in the name of the company. …
Question My client operates as an Australian based company, who travels overseas to inspect airline facilities and report on their conditions.He invoices another Australian based company for the work he’s done.I think my client should add GST to his invoices as his supplier is Australian based.However, the supplier then invoices a German based company for …
Question Hi,I am working on a yacht and have been for the past 5 years. I have been living abroad (from Australia) since 2010 (but spent two years in London – submitted a tax return there). I need some advice with handling my tax situation in Australia, could you help me with this?The longest period …
Question When invoicing overseas clients for my work as consultant, will I need to charge GST? (I work through a company that is registered for GST) Answer Yes if the work is performed in Australia
Question Next year the profit our business (pty Ltd) will make will probably be $1000000 before tax (30%). All business loan balances will be Nil. Is there anyway using PBR79002 (or other) to transfer this money (**before tax**) to my personal home loan of $300000 (LOC) without having to declare the income on my private …
Question I am an owner of a business,we have excess money in the bank which is available to take as a dividend,It has already been subject to company tax.If we take it we have been told we have to pay the tax difference between company and personal tax(13%).My question is if we leave the money …
Question Hi Julia,I am a Non-resident for tax purposes having lived in Japan for 10 years. I am in the process of being employed full time for a company in Sydney – working from Tokyo.I will of course be taxed for income by the Japanese, my question revolves around potential tax issues on the Australian …
Question My wife works for Feros Care Ltd (ABN: 50 104 452 271) as a COmmunity Services Worker providing transport to aged clients and also travelling to their premises for in-home care.We are copnsidering purchasing a second vehicle to be used 100% for my wife’s work purposes.As she will be using the vehicle effectively 100% …
Question We have come from NZ, sold up and will be buying a caravan as our home. Following the harvest trail via Workabout Australia, club members thereof, currently in Gargett for cane season.Do we need a ABN, if so, what is this, how do we get it etc?Do we go under backpackers or something else …
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