Resources

When you operate a business, you need to ensure you meet all your tax obligations and file the necessary returns.

At Ainger Tomlin, we make sure our clients have all the relevant information, so that they can pay the correct amount of tax, as well as claim the business expenses and deductions they are entitled to. When you operate a business, you need to ensure you meet all your tax obligations and file the necessary returns. At Ainger Tomlin, we make sure our clients have all the relevant information, so that they can pay the correct amount of tax, as well as claim the business expenses and deductions they are entitled to.

How do you send your financial records to Ainger Tomlin? Download instructions (PDF)

Facts on Tax

Click the links below to download a PDF with more information on the following topics.

Fringe Benefit Tax

Fringe benefit tax (FBT) is a tax imposed on employers who provide fringe benefits to employees. FBT is intended to tax fringe benefits that had previously been received free of tax and encourage a switch from remuneration paid in the form of non-taxable. Download PDF

Income Tax – Allowable Deductions

Net income (or net loss) is calculated by deducting annual allowable deductions from the total amount of gross income for an income year. Annual allowable deductions are the sum of all amounts of allowable deductions incurred in an income year. Only business expenditure will be an allowable deduction. Download PDF

Income Tax – Entertainment

As entertainment expenditure can give significant private benefits, there are specific limitations on deductions for this when making a claim for tax purposes. These limitations restrict deductibility to 50% on a wide range of entertainment expenditure. Download PDF

Companies

The risks that company directors face include potential personal liability and prosecution (including fine or imprisonment) under a wide variety of legislative provisions. The list of laws gives you an overview and is by no means exhaustive. Download PDF

Goods & Services Tax

GST is charged by GST registered persons on the supply of goods and services in the course of a taxable activity. Download PDF

Income Tax – Depreciation

Depreciation is allowed as a deductible expense for tax because assets decline in value and wear out as they are used. Download PDF

Trusts

People commonly refer to trusts as if they are separate legal entities, just like companies are separate legal entities. Although this is convenient, it causes confusion because it is incorrect and misleading. A trust is simply a set of legally enforceable obligations. An essential feature of a trust is that a person, being the trustee, must use their legal entitlement to the trust property for the benefit of another person – the beneficiary. Download PDF

GST – End of Month Procedures