Rands Financial Services

How to Get the Best Tax Claim for your Mobile Phone

Tax return

Recent research shows 9 out of 10 Australians own a smartphone. In 2017, the ABS reported that more than half of businesses regard mobile internet as important “to a major extent” for their activities. As such, it’s becoming more difficult for employees to draw the line between work and play. Our ‘always on’ culture sets […]

Tax time Myths You Should Know

“Every year we see people tripped up by tax time myths. Unfortunately, this often results in slowing their return down when either they or we realise their mistake as the return is processed,” assistant ATO commissioner Karen Foat said. “Where it doesn’t delay the initial return, it can result in a surprise tax bill later […]

Common tax claims that businesses may miss

Completion of the business tax return is a long and tedious task that can cause errors and compliance violations. Rands Tax Solutions Line (Registered Tax Agent of Rands Financial Services) could assist you here and also we could ensure our clients do not miss the basics and overlook the latest business deductions, while we make […]

Negative Gearing and CGT Proposal

Labor confirms 1st January 2020 – start date for negative gearing and CGT proposal. Labor has announced that it will implement its plan to restrict negative gearing to new investment properties and halve the capital gains tax discount from 1st January 2020. The fact is, the benefits of both negative gearing and the capital gains […]

Budgeting Tips

Budgeting tips to ensure your finances are more efficient   Half of working Australians are failing to save anything each month and 43 per cent are living pay check to pay check, according to a recent study. Those who do spend more than they earn are overspending by an average of $613 each month. With 74 […]

Benefits and Risks of SMSF

  Self-Managed Super Fund-(SMSF) is becoming popular amidst Australians. The aim of this Video to give a snap shot about what are the benefits and risks of SMSFs. If correctly evaluated one’s financial circumstances and objectives, SMSF can act as a great Retirement Plan. Through SMSF, you could invest directly in property and accumulates wealth […]

Tips and Cautions when buying a property with an SMSF

SMSF

     You heard that property is a great investment for an SMSF and you are looking at establishing an SMSF to buy an investment property. Before your next step, you have to evaluate other factors that must be complied with. If your acquisition is not in line with the rules stipulated by ATO, the ATO […]

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