Our tax experts can help with your Australian income tax
Butcher Paull & Calder offers a range of tax services for individuals and small and medium-sized businesses. When it comes to tax most people stress, often enduring sleepless nights worrying about their tax obligations. Avoid the stress and hire tax lawyers who will ensure your personal and business finances are fully compliant with the tax laws. Contact Perth’s tax specialists today.
We advise on liability and tax assessment disputes, and will help you plan all your State and Federal taxes. We can assist with the following:
- Tax-effective structures
- Tax ruling and objections
- Rollovers and capital gains tax relief
- Tax residency advice
- Voluntary disclosures
- GST advice
- Capital gains tax advice on relief
- Turning minor children into adults for tax purposes upon a parents’ death or divorce
Turning children into adults for tax purposes
Did you know that your minor child or grandchild could become an adult for tax purposes (a “prescribed person”) upon your death or legal separation and attract a tax free threshold of $18,200 per annum?
It’s important that you fully understand your tax obligations and rights. Australian residents enjoy a tax-free threshold on the first $18,200 earned. Make sure this is noted, especially when starting a new job. Just answer yes to the question, “Do you want to claim the tax-free threshold from this payer?” If you do not answer ‘yes,’ then you may pay tax on every dollar earned between $0 and $18,200. Contact us if you have any questions on this issue.
Australian income tax rates
Find out what income tax bracket you fit into. This will help you determine how much tax you will pay, and allow you to plan your financial year accordingly. Whether you are an Australian citizen or a foreign resident, talk to us about your tax rates.
Personal services income
If you are a freelancer, solo operator or in a situation whereby more than 50% of your income is derived mainly from your personal skills, you are then classified as a Personal Services Income Taxpayer (PSI). Contact us to find out if you qualify, and what your obligations are.
We will help you structure your tax to legally minimise the amount that you or your business pays. This includes finding out if you qualify for the ‘Entrepreneur’s Tax Offset.’
Small Business Concessions
Businesses up to a certain size qualify for a small business entity tax concession. Contact us to find out if your business is eligible or not. This may be particularly important if you are contemplating a sale or purchase of a business or shares in a company. The process is simple and quick, and could save you a fair bit of money in the upcoming year. Your eligibility will need to be reviewed on an annual basis.
Contact Perth’s local tax lawyers and let us remove the stress of taxes, allowing you to focus on your business.