Category: accounting
Avoid penalties with an ATO payment plan
An ATO payment plan allows you to break down your payment into smaller amounts made via instalments and spread over a fixed period. Within ...
Safeguard your assets with an asset protection plan
Asset protection refers to the strategies used to safeguard wealth and assets from potential risks, such as lawsuits, creditors, and financial downturns. Asset protection ...
Discretionary trusts – ensure trust distribution resolutions are signed before 30th June
Discretionary trusts (often referred to as family trusts) must ensure that by 30th June of each financial year, the trust income is appropriately distributed ...
Witchcraft tax deductions
Witchcraft is the practice of magical skills, spells, and abilities. In the Netherlands, witchcraft expenses are tax-deductible if they are likely to increase the ...
Chopstick Tax
In 2006, China introduced a 5% tax on disposable wooden chopsticks to reduce demand for wooden chopsticks to preserve their shrinking forests. This is ...
The Isle of Man has a tax cap of £120,000
The Isle of Man, also known simply as Mann, is a self-governing crown dependency between England and Northern Ireland in the Irish Sea. Under ...
Have you heard of the cow flatulence tax?
In 2009 the Danish Tax Commission proposed introducing a cow flatulence tax of $110 per cow per year. For the average farmer with 120 ...
The UK has a bedroom tax!
In 2012 the United Kingdom (UK) introduced the bedroom tax to free up public housing (1 million spare bedrooms) and reduce the Government’s public ...
Marijuana tax
In the United States (US), the possession of cannabis is illegal under the Federal Controlled Substances Act of 1970. In contrast to the Federal ...
Federal Budget 2023-24 Tax Changes
The key tax and superannuation changes announced on Tuesday, 9 May 2023 by Treasurer Jim Chalmers are: Small business instant asset write-off: For 2023-24 ...