Express Vehicle Financing

One of the more common strategies used by business owners to reduce tax is to purchase a car before the end of the financial year.

This often sees lenders completing up to 1/3 of their entire year’s vehicle finance budget in the last 6 weeks of the financial year. Thankfully the last minute stress and rush has been alleviated by some banks who have introduced what most call “Express Vehicle Financing”. Continue reading Express Vehicle Financing

Last Minute Tips to Reduce Tax

So it’s the first week of June and you’re probably thinking that it’s too late to do anything material to reduce your tax before June 30.

Right??  Wrong!!

It’s both obvious and true that like any other life endeavour nothing usually beats a combination of great advice followed by a commitment to work to a plan. Of course tax planning is no different in this way.

That aside, the accounting team here at Accountplan have come up with some great last minute tips you can still look to implement before 30th June in order to reduce that tax burden. Continue reading Last Minute Tips to Reduce Tax

Budget Edition

Every year news outlets flood us with information about changes in the budget, all manor of issues are covered and their consequences for individuals and businesses are highlighted to all. As can be the case with news media, some of the information is sensationalised and some of it complex so the truth, the actual impact on you, can be difficult to decipher.

SO the big questions are, do the changes in the 2017 budget affect you? Continue reading Budget Edition

Lending to SMSF’s

Changes to superannuation laws in 2007 provided SMSF’s the opportunity to borrow for the purpose of acquiring a single asset (such as a commercial or residential property) through their SMSF.

If the SMSF has a deposit that meets the lenders requirements the lender will provide the balance of the purchase price.

Legislation requires that the loan must be a Limited Recourse borrowing Arrangement (LRBA). Continue reading Lending to SMSF’s