Peter W. Forresters Beach, NSW 6 Likes 0 Followers Hi,I have a joint home loan with my wife Of 400k that is linked to a offset account with 400k in it. My wife is not working now due to pregnancy and will not be working for a number of years.We would like to purchase some shares in her name (because of her now low income) around 150k worth. Can she claim the interest on the 150k taken from the offset account. Can she claim all interest keeping in mind homeloan and offset are joint? someone mentioned me lending her the money? Loan structure? 8 years ago
Jamil S. Wanneroo, WA 0 Likes 0 Followers Hi, I'm setting up an online computer store and am confused about the tax side of things, if i buy a product for example, for $600 inc GST, then sell it on my site for $700 inc GST, Can I claim GST credit on the GST paid to the supplier? Or are you not able to claim GST credit for this? Thanks,Jamil 8 years ago
anonymous a. Wheeny Creek, NSW 3 Likes 0 Followers Hi, I am a policing student currently and as of mid August will be a police officer. Can I claim my student expenses this financial year as it is for my career? I am a little bit grey in knowledge around this area as I know that if you are studying something for the job you are currently in that you can claim but other than that it is generally unclaimable. Any advice will be welcomed - thankyou! 8 years ago
Anà M. Cairnlea, VIC 1 Likes 0 Followers Cody has a motor vehicle worth $35,000, stock worth$16,000, and a computer worth $2,000. Cody also owes her suppliers $3,000, has a loan to the bank for $5,000, and owes her friend $500. What is the accounting equation suitable for this question? 8 years ago
Natalie HillarBusiness Advisor Manly, NSW 7 Likes 3 Followers I'm looking for an accounts person for my small business. What is a reasonable amount to expect to pay? 8 years ago
K J. Kallangur, QLD 2 Likes 0 Followers Is it more beneficial getting a company car or a car allowance of $1000 per month? Fuel paid for by company for both options. 8 years ago
Patricia J. Hervey Bay, QLD 2 Likes 0 Followers Hi my husband and I have a block of land which we bought in 2011. We are selling it and I have heard that if we do not make a profit that we my be able to claim expenses, interest,rates etc through our tax. Is this the case?Regards Patricia 8 years ago
Mikaela S. Oxenford, QLD 2 Likes 0 Followers Hi. I'm a fulltime nanny working for a family (not a company) and I'm trying to get a car loan. I've told that because I don't get payslips (I have an ABN) it is difficult for me to get a consumer loan. I was told to get advice about apply for a commerical loan? I'm not sure what to do as the car isn't for business use, it's for myself. 8 years ago
Kevin B. Roma, QLD 5 Likes 0 Followers So I'm looking at starting up a web hosting company,. I already have a full time job and it's something I'd be looking to work on after work and on weekends. What's the best way to go about setting the company up as I want to make sure it's done the right way. I don't want a massive tax bill at end of year want everything to be done right. Could anybody offer me any advice? 8 years ago
Maurice R. Petersham, NSW 1 Likes 0 Followers I'm about to take a new job and my salary package includes car and phone allowances. I can't, however, see myself spending as much as my allowances. I understand any allowances not spent become taxable income at the end of the financial year. If so, is there any real benefit of having a phone and car allowance? Should I ask for the base salary to include the allowances instead? Either way, I would still claim my business vehicle use and phone expenses as a deduction or am I missing something? 8 years ago
THOMAS L. Hampton Park, VIC 2 Likes 0 Followers I work full time with an annual income of $65k, I also run an eBay business that has a turnover of $50k this year, my net margin is around 5%, which is $2500. If I purchase some eligible assets under $20k and write off the full amount this year, then am I able to offset the loss of $17k against my income from day time job? Does that mean I am only liable for tax on $48k ($65k minus $17k)? 8 years ago
Sarah R. Basin View, NSW 1 Likes 0 Followers A couple in our community hold a private fundraising event each year. They ask local businesses for donations in the form of vouchers to raffle off. Attendees buy tickets with cash and this covers the days activity, food and alcohol. A cheque is then presented by the couple through their business name to the recipient. The couple then claims the amount donated on their taxes. Is this legal? 8 years ago
Peter W. Rose Bay, NSW 9 Likes 2 Followers Hi, I'm about to start a business that will involve professional consulting services to international companies. I am an Australian citizen and therefore wondering when invoicing how would I treat GST? 8 years ago
JB B. Canton Beach, NSW 1 Likes 0 Followers Im in the building game, just wondering if when invoicing, do i charge Tax on the whole of the price (labour and materials) or just gst on the labour alone, as materials have already had tax applied at time of sale from my supplier, meaning the taxman would be getting a double slice of pie as tax then has been applied to the materials twice? 8 years ago
Kirsten W. East Killara, NSW 1 Likes 0 Followers CGT on sale of small business owned for 13 years by person over 55. Is there a 100% exemption in CGT on the sale of a business if sold for under $500,000 in NSW by a 57 year old owner who has owned the business for the past 13 years? 8 years ago
Nick E. Joondalup, WA 3 Likes 0 Followers During the 2016 and now the 2017 tax year I worked in China as an Australian resident.For my 2016 tax return I was given a tax bill of $27,000 as the tax I paid in China did not cover what would be owed in Australia.For 2017 tax return, I earned $51,000 in China and paid $21,000 in tax to China. (Paying about $12,000 more than I would have had to pay in Australia).Will the Australian government recognise this and give me a credit towards my tax bill?Thank you 8 years ago
Bob W. South Brighton, SA 2 Likes 0 Followers An investment property was in joint names until 30.9.1991 when it was transferred into my name only. It is valued at around $650,000. What will be implications of CGT upon death of myself or my wife. We are both 80.? 8 years ago
Carl R. Shepparton, VIC 0 Likes 0 Followers Ok guys I have a girlfriend in the USA that is in need of some funds urgently but I don't posses a current passport nor do I have a drivers licence so I have some trouble proving my id is there any service that is out there that can help me out or is it as simple as me providing my card details to her so that she can use my Visa card to make a cash withdrawal over there? 8 years ago
Lisa J. Taren Point, NSW 9 Likes 3 Followers Is it possible to claim the GST for the expenses on my investment property? 8 years ago
Todd H. Lane Cove North, NSW 7 Likes 0 Followers I have two ABNs - a sole trader and a company. Same business, one followed the other. Do invoices issued under the first ABN have to be accounted for in the BAS for that entity, or can they be shifted to the company BAS if paid after it was set up? 9 years ago
