Companies Direct in Daisy Hill | Business service

Companies Direct

Locality: Daisy Hill

Phone: +61 7 3208 3888

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24.01.2022 Another benefit of using a Corporate/company structure for a business operation: Loss Back provisions for companies commences with lodgment of 2021 tax return. The new provisions allows a company with a current year loss to offset that against a previous year profit, generating a refundable tax offset for the current year for tax paid in the previous year.

23.01.2022 For anyone looking for information on the Stimulus packages there is easy access to key fact sheets etc on Maynard Accounting web page. It can be a little overwhelming to read through all the detail so the "Decision Tree" on the site helps break ti down. Hope this helps:... http://www.maynardaccounting.com.au/blog/

23.01.2022 Companies direct has a unique Business Startup Checklist FREE with every company or trust setup. For professional advice on starting a business Companies Direct will get you started. Call on 07 32083888 of visit our web page at www.companiesdirect.com.net.

10.01.2022 Tax benefits of using a company for your business structure: One of the tax benefits of using a company as a business structure is Franking Credits. How do they work? When a company makes a profit, it pays tax at 27.5% (small companies tax rate). Company tax paid is recorded in the company's "Franking" account. When the company pays a dividend to shareholders, franking credits are attached to that dividend. ... Just like earning wages. the amount received is the "after tax" amount - ie Wage is $1000 and tax withheld is $275 and the amount received is $725 after tax. Income included in your tax return is $1000 and $275 is recorded as tax already paid. Dividends work in the same way, If you receive a dividend of $725, then $275 of franking credits are attached. Income included in your tax return is $1000 and $275 is recorded as tax already paid. A business owner receiving income from their company can receive it either as "wages" or "dividends" If received as WAGES, the company pays tax at 27.5% plus tax is paid on the directors wages, resulting in double tax. If received as a DIVIDEND, then tax is already paid to the value of 27.5%. Tax is paid once only. Need expert help with setting up your business? Contact our office today on 07 32083888 for a friend consultation.

03.01.2022 If you are setting up a new company or family trust, experience counts.

02.01.2022 A recent determination by the ATO, TD 2021/2, confirms that companies can not use Capital Gains Tax (CGT) concessions for rental property assets. The CGT concessions can only apply to "active" business assets and not "passive" assets like rental properties as "passive" income does not fall under the definition of "business" income. Accordingly, if the intention is to invest in property only, a company may not be the best legal structure to use. For sound advice on business structures, connect with one of our business consultants today.