This is a consistent question that comes up time and time again. As a married couple, how should we be assessed and what reliefs are we entitled to? While this is quite a broad question, here are some key considerations: You can decide to be assessed as a single...
Here are some simple but very effective Tax updates as Tax season approaches; The most common credits and expenses that are unclaimed each year are: Home carer credit Medical insurance credit College fees Medical expenses Nursing home fees and employing a carer...
All businesses are the same- the average number of transactions multiplied by the average sale price equals turnover. Turnover multiplied by margin equals profit. To increase your profit all you have to do is increase one of these fundamental numbers; Number of...
If I sell an investment property, how much Capital Gains Tax (CGT) do I pay? In answering this question, we first have to establish the figure that is chargeable to CGT. In simple terms the amount that is chargeable to CGT is the Sales proceeds less acquisition cost...
There are a number of expenses that a landlord can claim against rental income. We take a look at what can and can’t be deducted from this income source. The good news, You can deduct: Utility bills such as rates, light and heat, phone, refuse collection...
The simple answer is: It depends on your desired outcome/intention. Common structures include the following: Trusts (Bare/Fixed/Discretionary) Family Partnerships Companies TrustsTrusts are generally used on death to take care of minor or incapacitated children or...
