Cantor Carnevale & Co in Chatswood, New South Wales, Australia | Financial service

Cantor Carnevale & Co

Locality: Chatswood, New South Wales, Australia

Phone: +61 2 9411 1134

Address: 6-8 Thomas St 2067 Chatswood, NSW, Australia

Website: http://cantoraccounting.com.au

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• Tax preparation service
• Consultation agency
• Accountant
• Financial service

24.01.2022 Tip #8. Swap savings for mortgage repayments Instead of paying into a savings account, homeowners should think about paying down their home loan instead. The over-payment will potentially still be available as a re-draw if necessary, and there is of course no tax incurred.

24.01.2022 Tip #12. Own your own business The majority of millionaires are effectively self-made, and the most common method of achieving great wealth has been owning one's own business. There are numerous tax codes rewarding businesses, and from which self-employed individuals do not benefit.

24.01.2022 Top Tax Tips: Tip #9. Consider the Capital Gains Tax (CGT) on your assets If you're planning to sell an asset subject to Capital Gains Tax (CGT), consider when you came into possession of the asset and when you need to sell it. If you have owned the asset for more than a year, you may be entitled to a 50% Capital Gains discount.

22.01.2022 Top Tax Tips: 13 Ways to Save. Tip #2 Know what to deduct As a rule, any spending that allows you to earn your income is tax deductible. This includes everything from computer equipment to transportation. When an item is used both for your work and in your private life, such as a car, you are entitled to claim a percentage of the expenditure. Be sure to do background research to get your claims and figures right.

21.01.2022 Top Tax tip #13. Speak to a professional Acquiring the services of an accountant or tax agent is secondly only to record-keeping as an effective means of saving money on your tax burden. Accountants know tax law; they know your entitlements; and they can help you maintain the financial health and cash flow of your business. They can maximise your income, minimise your tax, and their fees are deductible expenses.

19.01.2022 Tip #5: Think about your health insurance and life cover US tax payers can also benefit from declaring their health insurance as a deductible expense. This is missed by a lot of self-employed people, and it's a not insignificant sum. The Australian Medicare Levy Surcharge is upwards of 1% of your income, and is charged on top of the mandatory 2% Medicare levy. However, the surcharge is only paid by without private hospital insurance. You should easily find private insuran...ce that suits your circumstances and costs less than 1% of your income. High earners might also consider whole life insurance. This is a large investment up front, but it quickly builds tax-free income that is greater than the sums you pay in. For example, a 10-year premium of $100,000 will have given you $110,000 after the first decade.

10.01.2022 My experience in life clearly shows me that women generally indeed place the interest of others before their own. This often leads to their own financial detriment in the long term. This article has great ideas on how to minimise this. https://nabam.nab.com.au//how-women-can-narrow-the-retirem

10.01.2022 Top Tax Tips: 13 Ways to Save. Tip #3: When to deduct it Once you know what your potentially tax-deductible expenses are, look to the months ahead to decide the best time to declare. If you are expecting to slide into a new tax bracket this year, declare now for that deduction to push you back down into the lower band.

09.01.2022 Tip #4: Giving to receive Give to charity. When you make donations to registered charities, the total(s) are deducted from your total taxable income at the year-end. Where appropriate, you might also donate stock to charitable organisations. Doing so can allow you to avoid paying capital gains tax on the stock gains. Remember to keep receipts for all donations!

05.01.2022 Tip #11. Depreciate your assets early Conduct a 'cost segregation study' to accelerate the depreciation of your property, allowing you to claim the allowance today, rather than waiting a decade or more.

04.01.2022 Top Tax Tips: 13 Ways to Save Tip #6. Invest in the future Financial investments can be extremely efficient ways of reducing your tax bill. They can be tricky to plan though, and certainly don't work for everyone. The wisest thing to do is to discuss your options with a financial planner. http://cantoraccounting.com.au/

02.01.2022 Tip #10. Plan your retirement Contribute as much as you can to your retirement account. Qualified retirement plans mean real tax benefits, with employer-sponsored 401(k)'s and IRA plans bringing substantial reductions to your taxable income.

02.01.2022 So touching to have such a lovely review from such a lovely client. Thank you very much Arthur! "As a small business, Cantor Carnevale & Co have been perfect for all of our accounting and superannuation needs, business advice and support.... Laura and her team place customer satisfaction at the top of their agenda and backed up with all of the knowledge you could ever need to know for starting or running a business means any enquiry or concern is swiftly dealt with and the support offered is second to none. As a potential new business owner or existing company/sole trader I recommend Cantor Carnevale & Co as the perfect support for your new venture or as an alternative with an extremely approachable and professional manner" . Arthur Petalotis Director of Budget Petrol NSW Pty Ltd

01.01.2022 Tip #7. Consider your circumstances Stay on top of your finances, including any savings in short-term accounts, and move your money around to make sure it is doing its best work for you. For example, married couples might consider keeping savings in the name of the lower earning partner, as their lower tax burden will reduce the tax paid on the earned interest.