Non-Concessional Contributions (no tax deduction)

Non-Concessional Contributions (no tax deduction)

New non-concessional annual contribution cap rules The new non-concessional annual contribution cap rules broadly sees the current system of non-concessional contributions continuing however with lower caps provided your superannuation account balance is less than $1.6m as follows: Up to 30 June 2017: $180,000 (for individuals <65 – eligible for 3 year bring forward rule) From…

rental

Renting out a room is rental income

Money you earn from renting out a room in your house is rental income, according to the Australian Tax Office (ATO). This applies to rooms rented by traditional means or through a sharing economy website or app. You can only claim expenses related to the part of the house you rent out and you need…

depreciation-calculator-for-commercial-rental-property

NEW! Tax Depreciation Calculator

Estimate the likely depreciation deductions for your investment property Mitchell Partners’ new Tax Depreciation Calculator helps you to estimate the likely depreciation deductions claimable for all types of property including residential, commercial and manufacturing buildings. Click here to start using our Tax Depreciation Calculator now. Talk to us Want to order or find out more about…

business for sale

Thinking of selling your business?

There’s potentially a lot of work to do… One of the questions we often ask our clients is, “When do you plan to sell your business?” We get all sorts of responses, ranging from, “I’ve no intention of selling it” to “We think the kids will take it over, but we’re not sure” to “I’d…