Claim

WORKING FROM HOME

Tax tactics: what to claim when you work from home

Business Maxims Q. I run a plumbing business from home. What can I claim?

Can I claim my mortgage on my business tax?

house

Max Newnham Many small businesses operate from the owner’s home. This could mean the factory is a shed in the backyard and the office a corner of the kitchen or dining room table.

Don't buy the wrong wheels

Work car.

Max Newnham Many small business owners stumble in buying and financing the right sort of work vehicle.

How to write off business costs

Writing off business purposes.

Business Maxims Q. We recently set up an office - can we claim painting and other costs?

FINANCE

Write, which way should I pay my tax?

Keyboard.

Business Maxims Q. I am a UK citizen, and am doing a spot of freelance writing. Should I be taxing myself through my ABN number?

Claiming company expenses

Car.

Business Maxims Can I claim my $6000 car purchase as a company expense in my BAS?

We owe ourselves salaries

Max

Business Maxims Q. Can we claim our salaries - which we don't have the money for - as a tax deduction?

BUSINESS MAXIMS

The ABCs of GST

ABC.

Max Newnham When you own a business there are countless rules and regulations that must be met.

Business Maxims

Making the most of fruitful labours

Fruit and the tax question.

Business Maxims The ability to offset business losses against other income depends on a taxpayer passing one of four tests. Where these tests cannot be passed the loss must be carried forward to later years.

Business alert: no dividends in skipping super

The Tax Office is responding aggressively to complaints that small businesses are not paying super on time.

Ruth Williams Small businesses struggling with tight cash flows have been warned not to fall behind on employee super payments

BUSINESS MAXIMS

How do I get rollover relief?

Swiss ball.

Max Newnham Q. I'm a physio doing home visits and need better equipment. Could I claim these under CGT rollover relief?

Steer clear of these GST traps

Max Newnham Three areas to watch out for: GST, asset use and claims after a business closes.

Hey Max, what about my tax?

Business Maxims There are many anomalies in the income tax act, some of them relate to motor vehicles.

Don't get caught without cover

Business dink.

Business Maxims There are many ways to own and operate a business. Some of them are simple, such as a sole trader or partnership, where the owner earns income as a share of profits.

Be prepared for a rude interruption

Christopher Niesche A loss of trade after an unexpected calamity can be devastating.

Middle man earns his place

Christopher Niesche Using a broker is a good policy if your insurance needs are complex.

Business Maxims

Avoiding the please-explain on GST

Tax.

Business Maxims Max Newnham answers your tax questions.

Home sweet home, unless it's your workplace

AFR

Christopher Niesche OWNERS of home-based businesses should not assume that their home and contents insurance will provide adequate coverage for their business and their business activities, insurers are warning.

Undervalued: why less is risking more

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Christopher Niesche The increased cost of construction brought on by the carbon tax and the soft economic conditions mean many more small businesses are taking the risk of being underinsured, an insurance consultant...

What the budget means for small business

Australian Treasurer Wayne Swan

Max Newnham This year's federal budget has again shown that the small business sector is largely ignored by politicians and bureaucrats in Canberra.