Laing Taxation Services | Organisation

Laing Taxation Services

Phone: +61 7 3448 0372

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24.01.2022 FIRST COME FIRST SERVE We have had some appointments open up for tomorrow morning. We are doing limited sessions on weekends. So if you want to book in, book in now!

21.01.2022 Negative gearing is a common topic with clients and often mostly misunderstood. Negative gearing is an investment strategy where you borrow to purchase a capital asset and the expenses, including depreciation and loan interest, exceed your income. So on your tax return it looks like a loss. A lot of people think this means you get that loss back as a tax refund. Which is WRONG!!! It comes off your taxable income and you are taxed on that. So the reality is that if you have a ...$10k loss and have a taxable income between $37k and $87k, you would only save $3,250. However there are two ways this can be beneficial: 1) As one of the expenses is depreciation, it is actually possible to have a CASH profit but show a loss on your tax return 2) You are betting on the capital gain of the asset I.e. you will profit later. So negative gearing can be a good strategy, but you need to understand to use it. If you’ve got questions, let us know! #laingtax

21.01.2022 Can you claim your mobile phone bill on tax? Yes (sort of) You can claim the work related proportion of your mobile phone bill. You need to work out your business use using number of phone calls. So if 4 out of 10 phone calls are for work and you spent $1000 on your phone bills, you can claim $400. #laingtax

14.01.2022 There are two methods to claiming a motor vehicle deduction: Cents / KM and logbook. Cents / KM is the easier method whereby you can claim 66c per business kilometre to a 5000 km maximum. Logbook is a better option, especially if you travel more than 5000 km. You must track ALL you km for 12 weeks to form a business use proportion of your vehicle. You can then claim that proportion of all your vehicle costs. The bonus is you only need to do a logbook every five years, but you... do need your odometer readings every year. TIP - remember that travel to and from work is generally considered PRIVATE use.

14.01.2022 We have a qualified team ready to offer you personalised tax services. We offer appointments during the week and On weekend. We love what we do! #laingtax #wedotheworksoyoudonthaveto

11.01.2022 Quick update! Please be aware that our 0422xx number no longer receives text messages. We have updated our phone system so this is no longer possible. The best way to contact us is via email Email goes straight to our phones anyway so we will still get your message. The 0422xx number still works for phone calls (for now) but our new office number is 07 3448 0372.

11.01.2022 Win a $100 gold class gift voucher! To be in the draw, you need: Like this post Like & follow Laing Taxation Services... Make sure you share and tag a friend! T&Cs - Entries close Monday 14th May at 5pm. - Open to QLD residents 18+ years of age - Only one Gold Class Movie Gift Card to the value of $100 is available in this giveaway. - No purchase or payment is required to enter or win. - All post likes are eligible. - You do not have to tag a friend or share the post to be in the draw. - This competition is in no way sponsored, endorsed or administered by, or associated with, Facebook.

06.01.2022 Tax season is in full swing! Meet with one of our accountants and we can get your tax sorted with minimal fuss! Weekend and evening appointments available. #laingtax

06.01.2022 Win a $100 gold class gift voucher! To be in the draw, you need: Like this post Like & follow Laing Taxation Services... Make sure you share and tag a friend! Need to get your tax return done? Call us on 07 3448 0372 or email us on [email protected]. T&Cs - Entries close Sunday 15th July at 5pm. - Open to QLD residents 18+ years of age - Only one Gold Class Movie Gift Card to the value of $100 is available in this giveaway. - No purchase or payment is required to enter or win. - All post likes are eligible. - You do not have to tag a friend or share the post to be in the draw. - This competition is in no way sponsored, endorsed or administered by, or associated with, Facebook.

06.01.2022 Interesting take on EOFY!

03.01.2022 Everyone’s favourite topic! To claim a tax deduction: 1) you must have spent the money yourself and not been reimbursed 2) it must be directly related to earning your income 3) you must have a record to prove you paid for it.... The important thing to remember is a tax deduction does not equal a refund. So if you earn between $37k and $87k, and have $10k in deductions, your refund would be just over $3k. So deductions for the sake of deductions is not ideal! #laingtax See more