Clients are missing out on claiming a greater deduction for their motor vehicle expenses as they have not maintained a proper log book. This log book can be in the form of a pre-printed book or you can maintain your own records as long as it contains the correct details. The idea of a log […]
The Taxation Office has released its administrative treatment in relation to the Government’s proposal (Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016, currently before Parliament) to reduce the corporate tax rate. Under these proposals, the tax rate for small business entities will be reduced from 28.5% to 27.5% from 1 July 2016.