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Save tax (and health) with a salary-sacrificed e-bike
 

Entering into a remuneration package to secure a vehicle through a salary sacrifice arrangement is a popular option offered to employees (see more on novated leases here). However the ATO has issued a ruling on another particular set of wheels that opens up both a tax and health incentive. 

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Novated leases and the deductibility of after-tax running costs
 

Including a car in a salary package is a popular remuneration arrangement, and doing so as part of a salary sacrifice package will often give rise the a “novated lease”.  Costs in operating the vehicle can also be salary sacrificed.  This is typically referred to a fully novated lease.

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When is refinancing loan interest deductible to a partnership?
 

About general law and tax law partnerships

A general law partnership is formed when two or more people (and up to, but no more than, 20 people) go into business together. Partnerships are generally set up so that all partners are equally responsible for the management of the business, but each also has liability for the debts that business may incur.

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Borrowed money to pay a business tax debt? Is the interest deductible?
 

It’s a question that the ATO has been asked very infrequently, but after the third such request it decided to issue a ruling — which still stands.

It was about 1990 when the ATO was asked about the tax deductibility of interest on a loan a business may have taken out to repay a tax debt.

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Setting up an SMSF: What you need to know
 

Setting up an SMSF - What you need to know

There are tempting tax incentives for Australians to save for their retirement via the superannuation system, with an array of choice between superannuation funds that can manage your savings for you, but also the do-it-yourself option of a self-managed superannuation fund (SMSF).

 

 

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Setting up an SMSF: What you need to know
 

There are tempting tax incentives for Australians to save for their retirement via the superannuation system, with an array of choice between superannuation funds that can manage your savings for you, but also the do-it-yourself option of a self-managed superannuation fund (SMSF).

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What types of legal expenses are allowable as tax deductions?
 

When a legal expense is incurred in relation to the operation of a business for the purpose of producing assessable income, it is generally allowable as a deduction. Exceptions are when the legal fee is capital, domestic or private in nature, if it is specifically excluded by another section of income tax legislation, or is incurred in earning exempt and non-assessable non- exempt income.

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