Claiming depreciation helps property owners enhance cash flow from their property. According to ATO rules, business owners can specify depreciation as expenditures while reporting income tax returns for a particular period. Typically, both commercial and residential properties have depreciation values. The Australian tax office summarises and compiles any deductions in a tax depreciation schedule or reports. To help you learn more about the tax depreciation schedule, here are a few considerations to keep in mind.
7 June 2022
Insurance is one the highest costs of running a business. You might need protection for trucks, professional indemnity, and other assets. Hence the question, how can the costs of premiums be reduced? Get the right policy It seems like a daunting task to email all the insurance companies and gets their plans. It is a certain waste of time and more money. However, you need to visit someone whose business it is to know the different insurance products offered by various insurance companies.
23 May 2017
An unfortunate aspect of running a business is inevitably accruing debt from your customers. If you do not know how best to get this debt paid back, you could end up developing serious cash flow problems with your business. As such, debt collection is prudent if you would like to ensure that your business remains profitable. Nevertheless, following up on these debts on your own is not only time consuming but can prove to be expensive too.
24 January 2017
Most people don't think about retirement until it's too late, which means that they aren't able to out their best foot forward when it comes to amassing substantial savings for their senior years. The truth is that the earlier you start saving, the more money you will have to enjoy once you retire. Your financial advisor will help you with these clever ways to start building your wealth from your first pay cheque.
26 August 2016
Vet's bills can quickly amount to mega money, especially if your alpaca becomes seriously ill. That's why you should consider insuring him. Pet insurance doesn't cost the earth and can really put your mind at rest in the event of a claim. But do you really need to bother insuring your alpaca and aren't insurance premiums just a waste of money? Do you really need pet insurance for your alpaca?
1 June 2016