Professional tax advice is needed to improve the mental health outcomes for small businesses in financial distress, says a UNSW Business School expert.
Australia has always been unwilling to consider changes to the Goods and Services Tax, but now, in the middle of a pandemic, we could celebrate the GST’s 20th birthday with changes – or even a GST holiday.
Claiming for working for home is fraught. It's safest to claim the running expenses the tax office allows. 'Occupancy expenses' are harder to justify and could cost you your capital gains tax discount.
UNSW Business School academic Kathrin Bain suggests that as an alternative, the government could make franking credits non-refundable for public companies but refundable for private companies.