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What is a tax loss, and how can it be turned to good use?

Posted by Team AVS on 24 Aug, 2017  0 Comments

You generally make a tax loss when the total deductions that can be claimed for a financial year exceed the total of assessable and net exempt income for the year.

If you operate a business that makes a loss you can generally carry forward that loss and claim a deduction for it in a future year. If you’re a sole trader or in a partnership, you may be able to claim business losses by offsetting them against your other personal income (such as investment income) in the same income year.


7 Things Businesses Can’t Claim as a Tax Deduction: Part 2– by Intuit Quickbooks

Posted by Team AVS on 31 May, 2016  0 Comments

Businesses can incur many expenses, but not all of them are tax deductible. Aside from things like entertainment expenses, phone use and certain business travel, we highlight additional expenses you should think twice about before claiming. While we’ve previously run through some of the popular mistaken tax deductions, you should be aware of a few more to avoid questioning and potential prosecution from the Australian Tax Office.


Growing Your Business Sucessfully – by Intuit Quickbooks

Posted by Team AVS on 6 Apr, 2016  0 Comments

Growth in a small business is a great sign, but it’s important to know how it changes operations.

It’s an exciting time when your small business begins to grow – from gaining new clients to increasing your range of services, there are a number of areas your company can expand on. Growing your business can be challenging. Learn how to make it a smooth process.
Getting advice from a range of people is a smart way to see how the growth of your small business will affect the way you work and the operation as a whole. Speak with a financial consultant or accountant on cash flow planning,


Starting a new Business? – Choose the right structure

Posted by Team AVS on 2 Feb, 2016  0 Comments

Choosing the right structure for your business is an important decision when setting up a new business. There is no ‘one size fits all’ solution and often, choosing the right structure would depend upon number of factors, for example;
– the type of business you have,
– the number of owners/people involved in business,
– whether you plan to hire employees,
– how much income you expect business to bring,
– how you plan to grow your business in the longer run.


Disclaimer : All the content (including Blogs, newsletters, Fact sheets, calculators etc.) provided on this website is general information only and is neither intended to nor be considered personal financial or taxation advice. The content has been prepared without taking into account your personal circumstances, financial situation or objectives. In making any financial, investment or taxation decision, information provided on this website should not be relied upon and you should seek personal advice. AVS Business Services Pty Ltd disclaims any responsibility for any decision that you make, based on the information provided on this website.All the information provided on this website is prepared in good faith and based on AVS’s knowledge and understanding of superannuation, taxation and other relevant laws and is believed to be correct at the time of writing the information. However as the laws, being dynamic by nature, keeps on changing, you should not rely on the information provided on this website without first obtaining advice from qualified professional.