September Tax & Super Newsletter

The small business community welcomed the government's $20,000 instant asset write-off initiative from the last federal budget, but there is an added bonus hidden in the legislation that could open up the valuable deduction to a wider tax-paying cohort than just small business entities.  We explain.

We also look at legal expenses that are allowable deductions, where interest on a loan taken out to pay a tax debt may be able to be claimed, and in a similar vein when re-financing a partnership can open up a deduction opportunity.

And if you are considering setting up your own self-managed superannuation fund, we run over the considerations you really need to pay attention to.