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Self-education: when is it deductible?

Posted by Team AVS on 26 Sep, 2023  0 Comments

If the subject of self-education leads to, or is likely to lead to, an increase in the taxpayer’s income from current (but not new) income-earning activities, a deduction for self-education expenses incurred will be allowable.

There is no specific provision in the income tax legislation that allows a deduction for self- education expenses. Rather the expenditure falls for consideration under the general deductibility provision of the Tax Act

Discounting your capital gain

Posted by Team AVS on 19 Sep, 2023  0 Comments

The capital gains tax (CGT) discount can reduce by 50% a capital gain that you make when you dispose of (sell) a CGT asset that you have owned for 12 months or more. However, the discount is only available to:

individuals (but not foreign or temporary residents)
complying superannuation funds (33% discount applies, not 50%)
trusts, and
life insurance companies in respect of a discount capital gain from a CGT event in respect of a CGT as

Thought of registering a trademark for your new business?

Posted by Team AVS on 11 Sep, 2023  0 Comments

The ATO has issued a reminder around trademarks!

For background, a trademark legally protects your brand and helps customers distinguish your products or services in the market from others. Trademarks can be used to protect a logo, phrase, word, letter, color, sound, smell, picture, movement, aspect of packaging or any combination of these. In short, they protect your brand, products and services.

Trademarks are different from a business na

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