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Looking to plumb the vast Somersoft product knowledge database...:) Investigating the availability of roofing systems similar to the Vergola system. The idea being to allow winter sun on to north facing windows, but with the ability to close during summer or when it's raining. Is there...

I'm sure I'm missing something obvious here, but I've down heaps of searching and most of it comes up with Division 7A issues regarding directors loaning money FROM their company. But - if my company needs to purchase a capital asset worth, for example, $10000, and doesn't have the funds...

I'm brainstorming ideas for our home "block", whilst reading the provisions of the local council's Development Plan. Our home "block" is 2 acres, comprising 1 half acre allotment under 1 title, with the other title comprising 3 half acre allotments. All buildings are on the one lot title - the...

SA specific, but maybe other states are similar enough? I employ myself through my own company. Do reimbursements of car expenses actually incurred, occasional gifts below FBT thresholds, and reimbursement of incurred IP expenses (all FBT exempt in one form or another) 'count' when calculating...

Not sure if this is the right forum, and the searches I've done talk of the subdivision process... We have a what we call "a block of land" that consists of several separate titles. These are all singular surveyed allotments - except for one. This title is described as being "allotments 171...

I have searched the numerous threads on PPOR and CGT but have not found an answer than pertains to our particular circumstances. Our PPOR is on 2 titles. . It was when we bought it, we have not subdivided or changed it in any way. It is a Rural Living block totalling 2 acresWe have only ever...

A friend is currently in the middle of an increasingly acrimonious property settlement following separating from his wife late last year. What initially was intended from both sides was a simple amicable resolution, but his ex soon escalated things introducing lawyers etc (probably as a result...

As part of some necessary extensions on our PPOR we have installed ducted reverse cycle A/C. We are paying for it using a credit card (since we can and it didn't make any difference to the final price than if we had paid cash). Point is we have a mortgage with an offset account; we've managed...

The diminishing value rate was increased from 150 to 200% in the last federal budget for assets acquired after May 10 2006 for "business". Does this also include assets used by an individual for business/investment purposes? http://www.budget.gov.au/2006-07/ministerial/html/treasury-05.htm...

In D6 of TaxPack2006 there is a section: We were depreciating carpet and a stove in the low value pool of an IP we sold last year...so what is their "termination value". Do you say they were ostensibly "sold" for their depreciated value, or assign them 0 value and write it off entirely?

Being in the throes of assembling data for tax returns, it has struck me that the areas where a property loss is "added back" to your taxable income to determine an income for calculating certain things is effectively decreasing (super changes), but one of these remains Family Tax Benefit. I've...

Reports coming through that Peter Brock has been killed in a racing crash in WA. Really hammering home the sense of one's mortality this week...

http://news.ninemsn.com.au/article.aspx?id=118578 What is going on? Is this sort of crap happening more frequently or is it just that when this does happen it is more widely reported and it creates the perception of increasing frequency? Either way, it's sickening. Nothing can...

For some background please see the following link: http://www.bantacs.com.au/fbt_rental.php The basic premise as I see it is that it is possible to salary sacrifice from the higher income earner all the "cash" expenses (not just 50%) of a jointly held IP without incurring FBT. Non-cash...

We are looking at selling a block of land to reduce our current holding expenses and reduce debt to finance additonal development. It is one of a number of adjoining titles we own. Problem is there is an old bessa block building straddling the boundary. We want to keep the building. There is a...

I am PAYG for about half my taxable income and self-employed/contractor for the other half. My turnover for this half will be under the 50K threshold, and the expenses component is pretty small, hence the 'profit' will be most of the turnover. Last year this would've been all fine and dandy, I...

Greetings all How does one go about assigning business use and personal use to a mobile phone when it is on a Cap Plan, particularly when there are "free" components? In detail - previously I have had to use Telstra as they were the only network to cover one of my work locations; but when...

I'm normally prett adept at trawling through Tax Pack and all its associated cronies but I've gotten to the Tax Offsets bit where they start talking about dependant spouses and "separate net income". http://www.ato.gov.au/individuals/content.asp?doc=/content/19187.htm&page=4&H4 "SNI...

As above. Is it any luggage type device that is used to transport work related documentation/equipment? I want to get one of those smaller luggage cases - almost like a cabin-bag sized suitcase - so I can put my laptop in it too.

In my travels to educate myself prior to incorporating I've done some figures on the "cost" of FBT exempt items, reimbursements, and depreciation... As I will be setting up a sole director/hareholder company that derives income through personal exertion no profit is to be retained in the...