Salary sacrifice is a method of lowering the amount of tax you pay. It entails utilising pre-tax earnings to purchase items or services that one would typically purchase with after-tax earnings. BluCity Tax is a vibrant, well-established Tax and Accounting firm that specialises in accounting and taxes advice for affluent Australians. Because earning less in…
Month: December 2022
What Is Better Real Estate or Stocks
Real estate investing Traditional real estate investments are divided into two categories: residential properties (house, rental properties, or flipping homes to buy and resell for a profit) and commercial assets (apartment blocks, complexes, shops and office buildings). The benefits Real estate investing is simple to grasp. While the home-buying process might be confusing, the fundamentals…
Setting up a family Trust
Are you considering establishing a family trust in Australia but are unsure of where to begin? Believe us when we say that we are aware of how challenging it can be, which is why we have compiled all the information you require to guide you through the procedure. Before making any decisions about creating a…
Capital Gains Tax on share sales
Many investors incur the inescapable expense of capital gains tax during their investment journey. You must pay capital gains tax (CGT) to the Australian Taxation Office if you sell investments for a capital gain, whether you own shares or real estate (ATO). The amount of tax you must pay in a given year can be…
HOW TO MAXIMISE YOUR TAX REFUND
Every Australian Resident pays tax, but to maximise your tax refund or to reduce any tax payable it is something tax requires tax experts assistance. It is the ticket to a well-oiled and better-functioning democratic country. When taxes are paid, the government can use the funds to start new schools, colleges, hospitals, or complete infrastructural…
INSTANT TAX WRITE OFF
Businesses operating in Australia must pay tax every year. Do you know your business can become eligible for tax breaks that can reduce the total amount you must pay to the government? Instant tax write-off refers to the tax break a business is eligible to claim for the asset purchased. Businesses can claim an immediate…