Blogs & Resources
23 January 2021
Home Office Tax Deductions.
There are three methods for claiming home office deductions in your 2020 income tax return:- Shortcut method (80 cents per work hour) – available 1 …
Learn more
28 December 2020
New year’s resolutions. Improve my business.
Most businesses would like to improve in the following areas:Revenue GrowthProfit ImprovementCash flow ImprovementIt is then a matter of identifying Key Perform…
Learn more
21 December 2020
Accounting and Tax at Christmas time.
Giving Employees Gifts at Christmas Time.Can I claim my Christmas party as a tax deduction and what are the fringe benefit tax implications?Are gifts to clients…
Learn more
12 December 2020
Giving Employees Gifts at Christmas Time.
Generally, the most tax effective outcome when providing Employees with gifts is to ensure that the following is adhered to:1. The gift is less than $300, Goods…
Learn more
11 December 2020
Can I claim my Christmas party as a tax deduction and what are the fringe benefit tax implications?
Generally speaking, if a party / function is held off the employer's premises and the cost per head is less than $300 the cost will be exempt from Fringe Be…
Learn more
9 December 2020
Are gifts to clients / customers tax deductible?
Generally speaking yes. If the gift is designed to:1. Promote and / or advertise your business;2. Generate goodwill between your busin…
Learn more
8 December 2020
Taxation Update - December 2020
Please subscribe to our newsletter for our latest taxation updat…
Learn more
21 November 2020
Do you know your current ratio?
This measures the short term liquidity of your business. Which also indicates the ability of your business to pay its bills. Most businesses aim for a rati…
Learn more
19 November 2020
How healthy is your business?
Please complete the following short survey to we will be able to assist you.http://www.mcnamaraandco.com/business-health-checkIf you would like to discuss furth…
Learn more
12 November 2020
Break Even Point
The Break Even Point is a crucial measurement for business and is often over looked.Your Break Even Point is essentially: 1. The point of zero…
Learn more
11 November 2020
Taxation Update - November 2020
Please subscribe to our newsletter for our latest taxation update, our most recent newsletter covers:- Tax cuts pass Parliament- Employers need to apply recent …
Learn more
28 October 2020
Advantages and Disadvantages of a Discretionary (Family) Trust.
What are the advantages and disadvantages of operating a business / investment using a Discretionary Trust? &nbs…
Learn more
24 October 2020
What is a Discretionary (Family) Trust?
Also known as a Discretionary Trust, it is essentially a relationship that is set out by a trust deed between a trustee and a beneficiary or beneficiaries. The …
Learn more
16 October 2020
The uncapped immediate write-off for depreciable assets.
Businesses that turnover less that $5 billion dollars will be able to claim an immediate write off for the full cost of eligible depreciable assets where:The as…
Learn more
7 October 2020
2020/21 Federal Budget
Please subscribe to our newsletter for our 2020 / 2021 budget update, where amongst others the following topics are discussed: 1. Personal inc…
Learn more
5 October 2020
Loss Carry Back Tax Offset Reintroduction?
The Federal Government is considering reintroducing the Loss Carry Back Tax Offset originally introduced the Labor Government during the Global Financial Crisis…
Learn more
