Pat Mannix Archive
Small Business
Let's talk about Temporary Full Expensing (TFE). What is TFE? What assets can I write-off? What date do you need to apply by? Pat answers all of these questions in this informative short video.
TaxUncategorized
Legislation passed by Parliament last month extends the Temporary Full Expensing rules to cover assets that are first used or installed ready for use by 30 June 2023.
Small Business
Pat Mannix talks about Director Identification Numbers (DIN). What is a DIN? Why do the directors of Australian companies need one? What date do you need to apply by? Pat answers all of these questions in this informative short video.
BlogTax
Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the ATO’s more aggressive approach.
Instructional VideosTax Champion
Pat Mannix talks about the distribution and tax changes that occur within a Family Trust once a child is over 18 years old. Check out this informative short video.
Small Business
As a business owner it’s crucial that you keep track of your finances. You don’t need to be an expert on all the reporting if you have a bookkeeper who assists you, but you do need to keep an eye on two key reports to know that you have control of your company’s financial health.
Small Business
Temporary full expensing (‘TFE’) provides support for businesses, and it encourages investments. Is your business eligible to claim an immediate tax deduction for the cost of an asset this financial year? Let's look at the impacts of the Temporary Full Expensing rules for small to medium enterprises.
Small Business
All businesses start with a skill, idea or opportunity. But you’ll need more than this to make your business successful. Planning, skills, people, time – and luck – are all important.
Financial Updates
2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our personal and work lives. What we can expect in 2022?
Tax
The High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact.
Tax
The ATO has recently issued an alert on gifts or loans from overseas. The ATO is particularly concerned about schemes and arrangements designed specifically to circumvent Australian tax laws.
SMSFTax
Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the rules of fund, superannuation law, and the death nomination you made.
