It takes more than gumboots and a kelpie to qualify for some of the tax concessions available to primary producers, so we look at where hobby farms stand with regard to tax. And if you rent a portion of your home, there are certain things you will need to remember for your tax records.
Are you an SMSF trustee and heading offshore for an extended period? There are certain steps you will need to be aware of to keep your fund compliant. We also run over the tax and deduction consequences of volunteering, and even list some favourable ideas to keep in mind for when your tax refund is credited to your account.
Please contact MBS for clarification, or further advice, regarding any of the topics covered in this newsletter.
Disclaimer & Copyright: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. The Copyright is owned exclusively by Taxpayers Australia Inc (ABN 96 075 950 284)