Substantiation Requirements for Motor Vehicles

The ATO is now looking more closely at motor vehicle tax deductions. Substantiation requirements must be met where a vehicle falls within the definition of ‘motor vehicle’. A motor vehicle is any vehicle designed to carry a load of less than one tonne or nine passengers. You might be required to substantiate motor vehicle claims evenRead more…

30 June Tax Tips for Approaching Retirement

If you’re nearing retirement any steps to defer income to the subsequent 30 June tax year will be beneficial as your earnings may be lower in subsequent years. You may also consider salary sacrificing up to the concessional contribution limits of your salary into superannuation, and drawing a tax free-pension as a part of theRead more…

Small Business Tax Benefits

New Concessional Depreciation Rules If you’re earning less than a grouped $2m in your business you may benefit from the new concessional depreciation rules for small to medium businesses. On assets that cost less than $20,000 you can claim an immediate deduction provided you start to use, or install to use, the asset between 12Read more…

Claiming Small Business Accrued Expenses

At Moiler, one of the most common questions we answer is around claiming accrued small business expenses that can be claimed by owners. Small businesses can claim accrued expenses incurred but not yet paid given it can be reasonably determined there is a present existing liability. Typical expenses include staff bonuses, salary and wages, andRead more…